About 150,000 jobs have been cut at major financial institutions, and more
layoffs may be on the way. Some firms may shed an additional 5 percent of jobs this
year if the market doesn’t turn around, said bank analyst Dick Bove at
Ladenburg Thalmann. Citibank has cut 22,000 jobs over the past four quarters,
and just last week, UBS fired 700 employees, the first phase of a plan to trim
2,000 jobs at the bank.
More Wall Street layoffs to come
November 05, 2008 10:55AM
