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US Bancorp to cut thousands of jobs

US bank US Bancorp is cutting thousands of branch workers after the bank has decided to adjust to changing customer preferences. According to a spokesperson of the bank, the cuts will be in the ‘low thousands’. The bank’s CEO Andy Cecere in a memo said the bank made the difficult decision to eliminate their jobs because customer behaviors have changed. The cuts represent less than 2% of the bank’s workforce, according to a spokeswoman. The bank had 74,000 workers. Some of the positions that will go are teller coordinators and assistant branch managers. However, the bank does not intend to close any of its 3700 branches. The bank also intends to create some new customer-focused positions and launch a training program so existing employees can widen their skill sets. It will also be hiring new client-relationship consultants and business-banking development consultants to work in the branches.

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