BUSINESS
01/21/2011 12:53 pm ET Updated May 25, 2011

Banking Industry Wracked By Layoffs

The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs--increasingly at the expense of jobs.

Wells Fargo & Co. and American Express Co. said Wednesday that they would take action to reduce expenses and lay off employees to become leaner. PNC Financial Services Group Inc. and Fifth Third Bancorp said Thursday they too want to become more efficient.

Read more on The Wall Street Journal