Grim News: Thousands more investment bank job cuts expected

Investment banks are set to shed another 40,000 jobs in the next few years on top of cuts that have already been announced – and at least a third of them are going to give up their global ambitions, a sector report told the Financial Times.

Sluggish trading and higher capital requirements have dented returns in recent years and brought the investment banking sector under shareholder pressure to reduce costs…..

Read more at http://www.ft.com/intl/cms/s/0/f60b173e-3021-11e2-a040-00144feabdc0.html#axzz2CeNTRLJw