Bank Workers Who Survive Robot Uprising Stand to Make More Money
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If you’re lucky enough to survive banks’ coming robot apocalypse, you can expect a raise.
While the headcount for front-office workers -- the bankers and traders historically seen as among the companies’ most valuable assets -- could drop by almost a third amid an automation push, remaining employees will be more highly rewarded, according to a McKinsey & Co. report released Thursday. Compensation costs could drop by as much as 20 percent, with savings potentially reaching $600 million a year, the consulting company said.