[lbo-talk] Challenger, Gray, & Christmas: 200, 000 banking jobs might be lost

B. docile_body at yahoo.com
Tue Apr 1 19:28:10 PDT 2008


Analyst Sees 200,000 US Banking Jobs at Risk From Subprime Crisis

NEW YORK (AP) -- The U.S. financial industry has been shedding jobs at a record clip, and some analysts predict the pace will only accelerate over the next year-and-a-half as banks cut costs in the face of the housing market slump and the weak economy.

In 2007, the entire financial services sector -- which consists of mostly commercial banks -- announced job cuts that totaled a record 153,000, according to the job placement consultancy Challenger, Gray & Christmas, Inc. More than half of those cuts were in the mortgage-lending business, and occurred all over the country, particularly in New York and California.



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