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-0.000502512562814149 -0.00150753768844227 -0.00351758793969851 -0.00100502512562812 0.0155778894472361 0.0123115577889446 0.0140703517587938 -0.00150753768844227
Stock impact report

U.S. banks say cost cuts mostly out of sight during coronavirus [Reuters]

Citizens Financial Group, Inc. (CFG) 
Last citizens financial group, inc. earnings: 4/17 06:37 am Check Earnings Report
Company Research Source: Reuters
U.S. banks say cost cuts mostly out of sight during coronavirus NEW YORK, April 17 (Reuters) - During recessions, big U.S. banks usually turn to cost-cuts to boost results. But during the coronavirus pandemic, they are spending more by necessity and mostly say they have no plans to dramatically alter staff levels or budgets through the rest of 2020. Executives reiterated prior commitments to support staff and customers when discussing earnings results this week, and at least one offered some heartfelt commentary in what is usually a jargon-filled discussion about financial metrics. “We are in a 100-year crisis right now – a health crisis first and foremost,” said Morgan Stanley Chief Executive James Gorman, who was infected by the disease himself and has since recovered. “The worst possible thing you can show in a crisis is a lack of leadership and support for the people upon whom you depend to get the job done.” Morgan Stanley’s operating committee unanimously ruled out staff cuts in Show less Read more
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