Europe’s fiscal tsunami is set to wash up on US shores in the form of a fresh round of Wall Street layoffs, the New York Post says.
As embattled banks across Europe scramble to cut costs and meet tougher capital requirements, sources said financial firms with a sizable presence here will have to follow in the footsteps of their US counterparts by slashing thousands of workers.
Sources believe that Europe’s banking giants, including Deutsche Bank, UBS and Credit Suisse, along with Societe Generale and Dexia, are preparing to wield the ax in a way not witnessed since the depths of the financial crisis in 2008.
“People will be fired everywhere,” said Dick Bove, an outspoken bank analyst at Rochdale Securities...
Find out more at http://www.nypost.com/p/news/business/european_import_g5eYXrJULCeSXkb0g3xdaL
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