Financial industry victim of excessive boom-bust cycle: analysts
(NEWSER) - Wall Street's typical boom-bust excess means that the current round of cuts sweeping the banks and financial companies is even rougher than in other industries, trashing morale and harming client relationships just when those financial institutions can least afford it, reports Reuters . So far this year, Wall Street has cut more than 18,000 jobs, 6% more than last year, and industry analysts say a lot more cuts are coming. HSBC alone plans to ax 25,000 workers by the end of 2012. More»
