May 10 2024 19 mins
In recent news, big banks have made major layoffs, with Citi laying off a total of 2,000 employees in the first three months of 2024, with other banks such as PNC Financial and Wells Fargo following suit. But this news presents a challenge, how do banks maintain a good customer experience with reduced staff? Should banks be cutting headcount or training employees more efficiently?
Bradley Cooper, editor of ATM Marketplace discussed bank layoffs in light of CX with Mack Turner, a 30 year veteran of the financial services industry and managing director of Mack Turner Marketing Consulting and Insight LLC during this episode of the Bank Customer Experience Summit Podcast.
Turner discussed a number of key topics during the interview including:
- How do layoffs impact employee morale and customer service?
- How does this news impact smaller regional banks?
- How should banks be looking at branch strategy?
- What role does digital play in smaller banks' strategy?
- How should banks be training employees to deliver impactful CX?