Tuesday, April 15, 2008
The investment banks have so far avoided the ignominy of being the first to announce redundancies yet all have quietly leaked hundreds of staff. In the next few weeks, a big round of cuts are expected.
This weekend, new figures from the Centre of Economics and Business Research predict that nearly 30,000 jobs will be slashed over the next few months. Big banks including Goldman Sachs and Merrill Lynch are expecting to cut more next week. Some commentators are expecting far more, perhaps even the worst slump since the early 1990s