Economic

Wall Street’s big banks are gearing up for more layoffs

“Citigroup started the ball rolling in early December, when newly installed CEO Michael Corbat said the bank would cut 11,000 jobs, or 4% of its staff. Citi has already trimmed its staff by 25% since the financial crisis hit.
And last week, Morgan Stanley announced plans to cut 1,600 employees, or 3% of its staff, in the coming weeks.”

Source:Wall Street’s big banks are gearing up for more layoffs – Jan. 15, 2013

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