Thanks for visiting InnerSelf.com, where there are 20,000+ life-altering articles promoting "New Attitudes and New Possibilities." All articles are translated into 30+ languages. Subscribe to InnerSelf Magazine, published weekly, and Marie T Russell's Daily Inspiration. InnerSelf Magazine has been published since 1985.
Are investment bankers and traders facing near-extinction very soon? Yes, according to analyst Meredith Whitney.
“We are on the precipice of a seismic downsizing on Wall Street, the likes of which have never occurred before,” said Whitney in a recent research note to clients, acquired by the New York Post.
Whitney says the financial sector is set to see layoffs of up to 100,000 or as much as 15% of the work force in the next 18 months, as banks contract and muddle through a sluggish economy.
Several banks have already announced layoffs in the last several months, including J.P. Morgan Chase & Co.jpm JPM , Bank of America Corp. BAC , Citigroup Inc. C and HSBC Holdings Plc HBC . Many of the announcements affect operations globally. J.P. Morgan announced plans in February to cut 17,000 jobs, including about 4,000 this year. Bank of America announced 16,000 layoffs in September.
HSBC announced 14,000 layoffs in May. Citigroup announced 11,000 layoffs in December.
Continue Reading This Article
Fabio Silva, Bournemouth University et al
Every midsummer’s night tens of thousands of people gather at Stonehenge to celebrate and witness the rising Sun in alignment with the Heel…
InnerSelf Staff
Energy is in everything and it is everything. Energy is in our homes, not just in the form of electricity, but in the form of colors,…
Raymond A. Patterson, University of Calgary et al
Websites sometimes hide how widely they share our personal information, and can go to great lengths to pull the wool over our eyes.
Yrjo Koskinen, University of Calgary et al
Stock markets signal a growing gap between Canadian and American clean tech firms.
Rob Newton, Edith Cowan University
Good news: midlife health is about more than a waist measurement. Here’s why...
Thanks for visiting InnerSelf.com, where there are 20,000+ life-altering articles promoting "New Attitudes and New Possibilities." All articles are translated into 30+ languages. Subscribe to InnerSelf Magazine, published weekly, and Marie T Russell's Daily Inspiration. InnerSelf Magazine has been published since 1985.
