Monday, October 08, 2007

Jobs Squeeze Hits London Financial Services Sector

“Double Whammy of Job Cuts and Lower Bonuses for 2007 est. total 7.4bn”

CEBR prediction for 2008 an estimated 6,500 job losses for 2008 following the recent stock market turmoil. Significantly in the Investment Banking sector (2,300), Fund Management (1,600), Securities (1,200), Derivatives / Foreign Exchange (700).

CEBR forecast "One job will be cut for every two new ones created" as we enter 2008, worst affected is the City.

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