Downsizing binge will rival that of financial crisis
(NEWSER) - Wall Street's job creators aren't exactly living up to that billing. The market is soaring, and so are bank profits, but financial firms are preparing for a massive round of layoffs, analysts tell Fortune , estimating that the banks will cut nearly 21,000 jobs. That would be a bloodbath on par with the one that occurred during the financial crisis; 28,000 were eliminated in that purge, but that number included jobs lost in the collapse of Bear Stearns and Lehman Brothers, and at the time firms were failing, not prospering. More»
