Wednesday, September 26, 2007

Job losses in the City..?

Job worries escalate

Experts are now predicting that up to 10,000 City jobs may be at risk as a result of the credit turmoil in the financial markets. Lehman Brothers have already got rid of 800 employees and some investment banks are believed to be thinking of cutting up to 15% of their workforce.

Posted by dohousescrashinthewoods @ 09:30 AM (848 views)
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4 thoughts on “Job losses in the City..?

  • Who are these unnamed experts? The first sentence is pure speculation, the second sentence contains 1 fact and more idle speculation. Does this qualify as news these days?

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  • Good point Cyril. “Are believed to be thinking” is pretty vague.

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  • dohousescrashinthewoods says:

    Apparently, according to the BBC definition 😉

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  • If these figures are genuine, it says a lot about the fragility of the so-called ‘powerhouse of the UK economy’. I’ve no idea about the number employed in the City, but if 15% cuts are on the horizon now, what would the result of a recession be?

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