The American Empire in a Changing World


Tuesday, August 2, 2011

'Financial Sector Layoffs could top 80,000'

from investorplace........

"In July, as financial sector layoffs mounted, a top executive search firm estimated as many as 80,000 jobs might go in this coming round of financial layoffs.
“This is kind of like the beginning of a tsunami,” said Richard Stein of Caldwell Partners. “You don’t get it in one go — it comes in sort of short shock waves.”
Well, those shock waves have kept coming — with today’s brutal announcement from HSBC (NYSE:HBC) that by 2013 it will cut an additional 25,000 jobs on top of 5,000 posts already being eliminated.
Financial sector layoffs have reached a fever pitch as bank earnings have rolled out. Just a few of the announcements include:

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