An International Herald Tribue article yesterday discussed the continuing layoffs in the British financial firms.
The big players, including Credit Suisse and Deutsche Bank continue to trim staff by adding to the thousands of investment banking job cuts already completed. Credit crunch woes and less deal flow are the cause.
“The bulk of the job cuts in London’s financial sector are expected to be made in the last three months of this year and at the beginning of 2009.” Less than 20,000 job cuts have been completed so far; the article predicts the total layoff numbers could reach as high as 40,000 by 2010.
Although we definitely seen a slow down, thousands of investment banking jobs are waiting to be filled around the globe. For a complete database of ibanking openings, visit Investment Banking Jobs Digest.