Posted on: March 21, 2025 06:18 PM

Share : Facebook Twitter Email Whatsapp

Next comes banks facing location closures

The biggest news came to many shocking is the Macy's 7 floor location in Philadelphia closing this month wondering when the Herald Square in Manhattan will be affected.

After retail stores announced closing and layoffs, the next industry facing the same scanerio is banks.

Now TD Bank, Bank of America and score of others are closing locations.

This is due to online services with automated facilities resulting smaller branches in selected locations where in-person transactions are in demand.

A 2024 study conducted by Self Financial reveals that, since 2018, around 1,650 bank branches are closing per year, a trend that, if it continues, could lead to physical banking disappearing completely by 2041. And that’s because now it’s much more convenient to do any transaction without leaving home.

Meanwhile, fast food remains competitive nationwide based on the ethnicity target.