Many Jobs on Wall Street May Never Come Back
Friday January 9, 2009
finance.yahoo.com
snip
The financial sector has lost a whopping 413,000 jobs in the past two years, and more than 260,000 in 2008 alone, according to figures compiled by outplacement firm Challenger, Gray & Christmas. Last year's total represented about four times the typical amount.
Gone are some of the Street's most esteemed companies-Lehman, Bear Stearns, Merrill Lynch and Washington Mutual among them.
Layoffs have been stunning both in number and location: More than 50,000 at Citigroup 35,000 at Bank of America, which swallowed Merrill; 18,000 at JPMorgan Chase ;16,000 at Lehman, more than 11,000 at Wachovia. |
