China's four biggest banks are cutting costs and trying to adjust to their vast networks, which shrank for the first time in 2016 for the first time in six years, according to the Bank of china.Bloomberg published in April 6th entitled "Chinese bank teller army downsizing" reported that by the end of 2016, the number of ICBC, China Construction Bank, Agricultural Bank of Chinese China and China bank employees a total reduction of 17824 people, at least it is this phenomenon for the first time since 2011. Part of the reason for this is that Chinese banks are trying to cut down on some of its 3 million employees.
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Taiwan securities analyst in Shanghai Jeky said in a telephone interview Wednesday: "bank outlets are no longer need so many employees, online banking is now so advanced, customers no longer use so much cash transactions. People now expect banks to offer different services."
China Banking Association said, the world's largest banks, more than 16 thousand outlets of the ICBC last year cut 14090 teller, some of them are direct teller cut, while the other part is transfer to other department personnel. China Construction Bank Teller number decreased by 30007, while the Agricultural Bank of China has reduced the number of teller 10842. Bank of communications analyst in the report also said that the continued job adjustment will help to make the number of Chinese banking teller in the next ten years to reduce the number of the number of the next 20%.