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11/4/11

Banking Industry: International banks announce close to 110,000 job cuts

Banks are shedding jobs worldwide as stricter regulations and a tough six months for trading income take their toll on investment banking units.
Switzerland's Credit Suisse said this week it was cutting another 1,500 jobs on top of an earlier round of 2,000 layoffs.

Dutch financial services group ING added to the tally with 2,700 jobs, most of those permanent positions.

Japan's Nomura is also looking to slash over 1,000 jobs, a source with knowledge of the matter said.


For more: International banks announce close to 110,000 job cuts - The Economic Times

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