On Wall Street the hatchet man cometh. The NY Post says that dDeep-pocketed bankers and traders are bracing for what could be a fresh round of job cuts on the Street, concentrated in equities trading and investment banking, where firms are considering eliminating thousands of jobs in the coming weeks, The Post has learned.
Barclays Cap, Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley currently are among those financial institutions either weighing staff cuts or actually paring payroll as they struggle to rein in costs and eke out profits in a choppy market, sources told The Post.
The exact size of the layoffs across the industry could not be learned, but it's possible total jobs cuts could run into the thousands as firms assess the impact on their bottom lines of sweeping regulatory reform and a balky economic recovery.
Find out more at:
http://www.nypost.com/p/news/business/slasher_street_3N2eDrojp9DGzQcAlzGPhN
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