City job cuts coming to an end

Massive
job cuts in the City of London may be coming to an end as companies start to
take on more staff, according to recruitment company Robert Walters.

Thousands
of jobs were lost over the past three years as the stock market slumped, with
IT, lawyers, accountants and investment banks being the worst hit.

The
recruitment company said there is a shortage of accountants and IT specialists
in particular, and companies are more willing to hire temporary workers as
business improves.

Robert
Walters, chief executive of the recruitment company, said there was more
optimism now than there had been in several years.

"In
the past couple of years, everyone has wanted to stay put as moving elsewhere
was a leap in the dark," he said. "People are starting to become more
confident about switching jobs."

By Michael Millar

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