Wall Street Job Cuts Loom as Market Turmoil Stalls Deals

U.S. investment banks are poised to cut more jobs if economic uncertainty continues to weigh on dealmaking in the months ahead, according to analysts and recruiters.

Larger banks are quicker to reduce headcount, while boutiques could follow later, said Chris Connors, principal of Johnson Associates, a compensation consultant.

“If the pipeline does not materialize quickly, then they’ll make moves to reduce staffing levels,” he said.

Reuters / March 26, 2025