China's top four banks slim down

Popularity of digital players leads to branch trimming, job cuts

BEIJING - For the first time in six years, China's four largest banks saw their collective headcount drop in 2016. Lenders also cut costs.

Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd and Bank of China Ltd cut as many as 17,824 jobs in 2016, the first such drop since at least 2011, an analysis of their earnings filings last week showed.