Wall Street Could Cut 10,000 Jobs Next Year

Over 4,000 people lost their well-compensated securities job between April and August, according to Dealbook. A report by New York State Comptroller Thomas DiNapoli says that “an additional 10,000 jobs could be cut by the end of the next year, bringing the total losses on Wall Street to 32,000 since 2008.” Napoli released a statement on Tuesday saying, “It now seems likely that profits will fall sharply, job losses will continue, and bonuses will be smaller than last year.” Banks like Goldman Sachs and Bank of America, are scheduled to report third quarter earnings in the coming days, and Dealbook reports that they “have announced major job cuts in anticipation of weaker profits.” Businessweek reports that Bank of America’s CEO announced in September that the company planned “around 30,000 [job cuts] in the next few years.”

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   Over 4,000 people lost their well-compensated securities job between April and August, according to Dealbook. A report...

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   # Negocio Over 4,000 people lost their well-compensated securities job between April and August, according to Dealbook....

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