As many as 200,000 US banking jobs are expected to be cut within the next 18 months, according to new research. Boston firm Celent LLC have released a report suggesting as many as 10 per cent of workers in the American commercial banking industry could lose their jobs.
Of the cuts expected to be made, more than half are predicted to be cut in the mortgage lending sector – hardly surprising following the sub-prime crisis. The first two months of 2008 saw 22,000 job cuts made, whilst JPMorgan’s acquisition of Bear Stearns is expected to see further job losses.
Research Predicts Job Losses in US Banking Sector
Research Predicts Job Losses in US Banking Sector
Tue, 08 Apr 2008
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