Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Business performanceLatest NewsEconomics, government & businessJob creation and lossesLabour market

Financial services expect 15,000 more jobs to go in next quarter

by Louisa Peacock 30 Mar 2009
by Louisa Peacock 30 Mar 2009

Another 15,000 jobs are expected to be shed from financial services companies in the next three months, on top of 15,000 already axed in the first quarter of 2009, a survey has revealed.

The CBI/PricewaterhouseCoopers (PwC) Financial Services Survey, out today, has shown that the financial services sector has been hit by record drops in income levels, while business volumes have continued to fall sharply. The industry has cut jobs at the fastest rate since 1993 to try and trim costs and alleviate steep falls in profitability. Investment plans have also been heavily scaled back.

Asked how their business volumes fared in the three months to early March, 9% of firms said that volumes rose, while 56% said they fell.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Ian McCafferty, CBI chief economic adviser, said: “Conditions remain exceptionally tough in the financial services sector, and have not been helped by equity markets having fallen further since our last survey in December.

“Sharp drops in revenues and profitability are causing continued suffering, while business volumes remain very weak. Firms are making heavy cuts to staff numbers and investment plans to make savings and reflect weak demand.”

Louisa Peacock

previous post
Brawn GP F1 racing team wins dream race then cuts 270 UK jobs
next post
NHS trust HR assistant director officially warned over booze cruise

You may also like

Company director wins £15k after being told to...

4 Jul 2025

Skills shortfall in construction threatens housing target

4 Jul 2025

MPs demand Home Office tightens visas to protect...

4 Jul 2025

It’s all about the Monet: how art transforms...

3 Jul 2025

Stop chasing quick fixes: return to the office...

3 Jul 2025

Asda hails major upgrade in employees’ benefits

3 Jul 2025

100% success for latest large-scale four-day week trial

3 Jul 2025

NHS 10-year Health Plan sets out vision for...

3 Jul 2025

Microsoft to cut 9,000 jobs globally as role...

3 Jul 2025

Decline in workplace deaths: falls from height remain...

3 Jul 2025

  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+