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To: Rangle who wrote (38873)1/9/2009 1:48:10 PM
From: joseffy  Read Replies (1) | Respond to of 48461
 
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.