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The Masked Tulip

The Full Story On Layoff Plans At Goldman, Jp Morgan, Bofa

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The Full Story On Layoff Plans At Goldman, JP Morgan, BofA

It feels a little like 2008 all over again.

There are huge layoffs in the works across the banking sector, the New York Post reports.

"Barclays Capital, Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley currently are among those financial institutions either weighing staff cuts or actually paring payroll" according to the Post.

Sources at the banks said that the layoffs will be concentrated in equities trading and investment banking.

Morgan Stanley's CFO said yesterday they're going to be reducing headcount further in their brokerage unit, and yesterday Barclays began a heavy round of layoffs yesterday in equities.

"FYI: layoffs today at Barcap hitting Equities at all levels from MD and down. All areas hit, especially sales and trading. MD who’d been there 25 years got the boot, too," a source told Dealbreaker.

No exact numbers are out there by the NYP said "total jobs cuts could run into the thousands as firms assess the impact on their bottom lines of sweeping regulatory reform and a balky economic recovery."

Read more: http://www.businessinsider.com/total-jobs-cuts-could-run-into-the-thousands-with-goldman-jp-morgan-bofa-and-more-looking-at-layoffs-2011-6#ixzz1OimXgnJz

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Stories like these have been around since 2008 let we are also told that the city will require tens of thousands of new workers over the next five years, who knows what to believe.

If the banking sector in the UK goes into decline what’s left?

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Stories like these have been around since 2008 let we are also told that the city will require tens of thousands of new workers over the next five years, who knows what to believe.

If the banking sector in the UK goes into decline what’s left?

Re-start of manufacturing/inovation...a new gilded age?

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I have been saying that this would happen for ages now.

QE is not free money for banks, contrary to popular opinion.

And HAM makes an excellent pictorial point. Outsourcing and automation applies as much to bankers as anyone else.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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