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Latest News

Investment banking job losses reach 25,000

by Personnel Today 13 Aug 2001
by Personnel Today 13 Aug 2001

More
than 25,000 investment banking jobs have been cut in the UK and America so far
this year, research has revealed.

A
survey by the Financial Times shows that the number of jobs lost in the sector
on both sides of the Atlantic is at least 25,430.

The
number of redundancies could be significantly higher because many banks have
been making job cuts gradually and behind the scenes rather than announcing
seeping reductions.

The
biggest cuts have come at banks such as JP Morgan Chase and Credit Suisse First
Boston, which have been integrating acquisitions.

In
spite of a modest recovery last month in mergers and acquisition activity on
both sides of the Atlantic, July volumes remained 34 per cent below the average
monthly average for last year in Europe and 54 per cent lower in the US.

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www.ft.com/financialservices

By Ben Willmott

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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