All those hair transplants, personal trainers and executive facelifts can't cut the mustard any more. One (arguably) positive outcome of all of the Wall Street layoffs and cost cutting is that it's given a younger generation of financiers a chance to rise up the corporate ladder, according to BusinessInsider.
Banks are in the process of laying off both the bottom performers and their most expensive employees right now as fears of a recession loom and the Euro crisis remains unresolved and exposes Euro banks to losses. The easiest targets for layoffs are high level (and high cost) personnel. And as they are forced to leave their offices, younger workers are taking their places.
The young are more appealing for a number of reasons: they're cheap, they're eager, and they're willing to work longer hours because fewer of them have families. Translation: corner office!
More? Check out http://www.businessinsider.com/now-wall-streets-new-young-generation-is-moving-into-the-corner-office-2011-8
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