BusinessInsider writes that ,”facing lower trading volumes, tough regulations, and lower profits, some of Wall Street's biggest companies have begun "RIF layoffs."
The upside is if the reason for breaking your contract as part of a "reduction in force" layoff, it's cheaper for the bank.
And for those affected, saying you got "riffed" sounds better than saying you got laid off. Plus there's the severance package and "garden leave" (aka free vacation).
So we've compiled how layoffs are affecting different Wall Street banks.
Read more: http://www.businessinsider.com/wall-street-rif-layoff-carnage-is-back-heres-the-proof-2011-6
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