Layoffs Looming at Wall Street’s Big Banks

by Alyssa Oursler | August 16, 2012 12:17 pm

Layoffs Looming at Wall Street’s Big Banks

JPMorgan Chase (NYSE:JPM[1]) is an anomaly on Wall Street these days — it’s job force is growing.

Overall, though, big banks trimmed their numbers big time last year, cutting around 75,000 people.

And this year, the cuts keep on coming. By the start of 2013, Wall Street banks are expected to have anywhere from 10% to 15% fewer employees than they did at the start of this year, CNNMoney.com reports[2].

Check out the many banks slashing their workforces:

Endnotes:
  1. JPM: http://studio-5.financialcontent.com/investplace/quote?Symbol=JPM
  2. CNNMoney.com reports: http://money.cnn.com/2012/08/15/investing/wall-street-layoffs/index.html
  3. DB: http://studio-5.financialcontent.com/investplace/quote?Symbol=DB
  4. cut 1,900 people: http://investorplace.com/2012/07/deutsche-bank-to-cut-jobs-after-q2-profit-plunge/
  5. GS: http://studio-5.financialcontent.com/investplace/quote?Symbol=GS
  6. CS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CS
  7. UBS: http://studio-5.financialcontent.com/investplace/quote?Symbol=UBS
  8. an attempt to cut: http://investorplace.com/2012/06/credit-suisse-considering-heavy-job-cuts/
  9. BAC: http://studio-5.financialcontent.com/investplace/quote?Symbol=BAC
  10. Real America Index: http://investorplace.com/real-america-index/north-carolina-bank-of-america-the-name-says-it-all-bac/
  11. MS: http://studio-5.financialcontent.com/investplace/quote?Symbol=MS
  12. announced last year: http://investorplace.com/2012/01/more-bad-news-at-morgan-stanley/
  13. C: http://studio-5.financialcontent.com/investplace/quote?Symbol=C

Source URL: http://investorplace.com/2012/08/layoffs-looming-at-wall-streets-big-banks/
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