Financial services firms are expecting massive job losses in the sector before the end of 2008, according to research for the CBI.
The CBI’s latest survey of the financial services found firms were at their least optimistic since the survey began almost 20 years ago. The survey of trends in the sector, conducted by PricewaterhouseCoopers, indicates around 12,000 jobs are expected to be lost in the final quarter of 2008. Actual employment numbers in the financial services fell by a balance of -16% in the three months to September, but firms were even more pessimistic about the prospects for the remainder of the year, with the balance of firms expecting job increases over job losses at -44%. Comparison’s with previ...
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