Last week we put up a post on HSBC’s plan to ax 30,000 employees this year. Now we hear that it’s not just HSBC: the fifty largest banks in the world are poised to cut almost 101,000 jobs between them, according to Bloomberg. These are the biggest cuts since the recession struck in 2008.The smartest of these firms are expanding in markets like China and Brazil, where they are hiring locally and exchanging bloated and lazy fat cats and entitled and expensive Ivy League grads for savvy locals. Watch out for jobless bankers on Wall Street; it happened to the steelworkers and it is happening to you.
Bankers Booted To The Streets?
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