Banking sector sees massive employment cuts

Story link: Banking sector sees massive employment cuts

The investment banking sector has been a victim of the crisis for quite a while now, probably a lot before most industries such as the auto industry crisis that is currently going on in the US.

That being said the Auto Industry meltdown overseas, does still have massive implications worldwide and not just in the US, with literally tens of thousands of jobs on the line.

Banking sector sees massive employment cuts

Banks and City law firms are preparing an unprecedented jobs purge as the recession gathers alarming momentum.

In a bleak quarterly survey, the Confederation of British Industry warned that business and professional services firms will shed staff at a record rate in the New Year in a bid to survive the slowdown.