www.ft.com — The financial industry is bracing for a fresh round of job cuts as Wall Street banks slash costs to cushion the blow of further market turbulence and deepening economic woes in 2009. Executives and analysts say the redundancies – to be finalised this month as banks prepare next year’s budgets – ...
Comments
5 Blogs Link to this Story
Financial industry braces for 70,000 job cuts
FT Alphaville —
The financial industry is bracing for a fresh round of job cuts as Wall Street banks slash costs amid fears of further market turbulence and deepening economic woes in 2009, reports the FT. Executives and analysts say the redundancies, to be finalised this month as banks prepare next year’s budgets, could top 70,000 among US groups alone, adding to the estimated 150,000 financial sector jobs already lost this year worldwide. The cuts are expected to focus on the investment banking and trading businesses. Goldman Sachs last week began a 10% reduction in its 32,500-strong global ...
THE FINTAG NEWSLETTER @ 10 November 2008
FiNTAG - Hedge Fund News, Views, Opinions and Gossip —
... Fintag says A campaign I fully endorse. Will BB be setting up a facebook group? I am currently banned from Facebook so cannot check to see if there is one already. bloomberg says " AIG, U.S. May Expand Bailout to $150 Billion, Cut Interest Rate " WALL ST JOBS AXE THREATENS 70,000 financial times ...
Quoth Of Noth: Meredith Whitney
Trader Daily Combined Feed —
... as New York, London and Hong Kong by reducing tax revenues and putting pressure on the local housing market.
“The fourth quarter is going to be very disruptive,” Meredith Whitney, analyst at Oppenheimer, said in a video interview with the Financial Times. “For many of the capital markets intensive players, you’re going to have resizing of anywhere from 25 to 30 per cent of their workforce. But if you think about it, from the peak, revenues are down more than that.”
Continue reading on FT.com
Wall Street.: Another 70,000 layoffs
BloggingStocks —
... materials for high-rises, luxury goods from major retailers, and infrastructure supplies for the region's massive transportation and road systems.
What is bad for NYC is, to a very large extent, bad for the country.
Douglas A. McIntyre is an editor at 247wallst.com. Wall Street.: Another 70,000 layoffs originally appeared on BloggingStocks on Mon, 10 Nov 2008 08:51:00 EST. Please see our terms for use of feeds.Read | Permalink | Email this | Comments
How Many More Must Go?
BankersBall —
... Yeech. 70,000 more jobs in US banks could be cut by the end of this year (that’s on top of the 150,000 already cut globally), reports the FT. ...
Related Content
FT.com / In depth - Wall Street ‘made rod for own back’
www.ft.com 10/31/2008 — Wall Street unwittingly created one of the catalysts for the collapse of Bear Stearns, Lehman Brothers and American International Group by backing new bankruptcy rules that were aimed at insulating banks from the failure of a big client, lawyers and ...
Wall Street unwittingly created one of the catalysts for the collapse of Bear Stearns, Lehman Brothers and American International Group by backing new bankruptcy rules that were aimed at insulating banks from the failure of a big client, lawyers and ...
Why Bailout Wall Street?
www.canadiancapitalist.com 10/4/2008 — There is a lot of public anger on the $700 billion dollar bailout that is being proposed by the Bush Administration. The typical reaction is why bail out well-paid fat cats on Wall Street, who are responsible for the current mess anyway. While it is ...
There is a lot of public anger on the $700 billion dollar bailout that is being proposed by the Bush Administration. The typical reaction is why bail out well-paid fat cats on Wall Street, who are responsible for the current mess anyway. While it is ...
Main Street > Wall Street
macro-man.blogspot.com 9/29/2008 — Clearly there are more voters on Main Street than Wall Street, and we all know that the first job of a Congressman in October is to make sure that he is a Congressman in January. Regardless of whether "the package" was a good idea or not, it doesn't ...
Clearly there are more voters on Main Street than Wall Street, and we all know that the first job of a Congressman in October is to make sure that he is a Congressman in January. Regardless of whether "the package" was a good idea or not, it doesn't ...
It’s as Bad on Main Street as Wall Street
jeffmatthewsisnotmakingthisup.blogspot.com 10/3/2008 — A long-standing observation of ours is this: the further you get away from Wall Street, the more optimistic you get. On Wall Street, stocks go up and down—sometimes violently—every hour, minute and second of the trading day. Wall Street’s ...
A long-standing observation of ours is this: the further you get away from Wall Street, the more optimistic you get. On Wall Street, stocks go up and down—sometimes violently—every hour, minute and second of the trading day. Wall Street’s ...
Wall Street News & Articles on washingtonpost.com
www.washingtonpost.com 9/15/2008 — Wall Street Articles After America's fury, Wall Street has changed forever (Independent, Ireland) 10/1/2008 12:03:35 AM Taipei shares open higher on Wall St bounce, local ban on short-selling (Forbes) 9/30/2008 11:53:00 PM Slow Rise for a New Era ...
Wall Street Articles After America's fury, Wall Street has changed forever (Independent, Ireland) 10/1/2008 12:03:35 AM Taipei shares open higher on Wall St bounce, local ban on short-selling (Forbes) 9/30/2008 11:53:00 PM Slow Rise for a New Era ...
FT.com / In depth - Wall Street in biggest fall since 1987 crash
www.ft.com 10/9/2008 — Global financial crisis Wall Street in biggest fall since 1987 crash By Krishna Guha in Washington, Bertrand Benoit in Berlin, Ben Hall in Paris and David Oakley in London Published: October 9 2008 21:39 | Last updated: October 10 2008 03:28 The US ...
Global financial crisis Wall Street in biggest fall since 1987 crash By Krishna Guha in Washington, Bertrand Benoit in Berlin, Ben Hall in Paris and David Oakley in London Published: October 9 2008 21:39 | Last updated: October 10 2008 03:28 The US ...
Blog Archive » Wanted: $1,000,000,000,000 to bailout the financial system
ftalphaville.ft.com 11/20/2008 — Yes, that’s 1 trillion, on top of, or taken from, the $700bn already contained in the Tarp. FBR Capital Markets has written a 15-page note arguing that the US financial system needs at least that in tangible common equity to restore confidence and ...
Yes, that’s 1 trillion, on top of, or taken from, the $700bn already contained in the Tarp. FBR Capital Markets has written a 15-page note arguing that the US financial system needs at least that in tangible common equity to restore confidence and ...
Wall Street Really Needs Relief
gothamist.com 10/9/2008 — It has not been a good time on Wall Street , and now it's gotten even lower. Reader Adalis writes, " Someone spray painted the Wall St. Bulls balls blue. It was gone in a few hours, but I snapped some quick pics."
It has not been a good time on Wall Street , and now it's gotten even lower. Reader Adalis writes, " Someone spray painted the Wall St. Bulls balls blue. It was gone in a few hours, but I snapped some quick pics."
From Wall Street to Main Street... Credit Frozen
econompicdata.blogspot.com 10/9/2008 — The Federal Reserve just released Consumer Credit data for August and it isn't pretty. For the first time since early 1998, seasonally adjusted month over month consumer credit outstanding turned negative AND this was BEFORE markets completely froze ...
The Federal Reserve just released Consumer Credit data for August and it isn't pretty. For the first time since early 1998, seasonally adjusted month over month consumer credit outstanding turned negative AND this was BEFORE markets completely froze ...
World Equity Market Declines: -$26,000,000,000,000
bespokeinvest.typepad.com 10/9/2008 — Here's one to take home with you tonight, although it might make it tough to keep your dinner down. Since last October, the value of stocks worldwide has fallen 41%, or $25.9 trillion. As shown in the chart below, Bloomberg's World Market Cap index ...
Here's one to take home with you tonight, although it might make it tough to keep your dinner down. Since last October, the value of stocks worldwide has fallen 41%, or $25.9 trillion. As shown in the chart below, Bloomberg's World Market Cap index ...
Follow WallStreetBlips on Twitter
