Smaller U.S. banks which have held back on broad cost-cutting are now slashing jobs as they try...

|By:, SA News Editor

Smaller U.S. banks which have held back on broad cost-cutting are now slashing jobs as they try to adapt to tougher competition, profit-squeezing regulations and poor loan volume. More than 2,500 banks cut their staff in Q3, with the cuts more likely to be part of a "new normal" than a temporary downsizing.