Posted on 11/16/2012 9:39:51 AM PST by Free ThinkerNY
(Reuters) - Major banks have announced some 160,000 job cuts since early last year and with more layoffs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one.
A Reuters analysis of job cuts announced by 29 major banks showed the layoffs were much bigger in Europe than in Asia or the United States. That is a particular blow to Britain where the finance industry makes up roughly 10 percent of the economy.
The tally of nearly 160,000 job cut plans, meanwhile, is likely to be a conservative estimate as smaller banks and brokers are also cutting staff or shutting up shop, and bigger banks have not always disclosed target numbers of layoffs.
(Excerpt) Read more at reuters.com ...
Weeeeeeeeeeeee!!!!!!
W has ALWAYS been Emmanuel Goldstein, just as the US has ALWAYS been at war with Israel.
Most small banks will close, I think thats part of the plan
And America's workforce IS shrinking
This article is about the banking article in Europe.
In the US, I think the plan is to consolidate the industry to a handful of big banks through the Dodd-Frank financial regulation.
Ding, winner!!!
Which I consider quasi-nationalizing
Please elaborate on this.
FRmail welcome
Please elaborate on this.
In response to tagline for #2: George W. Bush is the Emmanuel Goldsten of the modern era
Orwellian reference: In novel 1984 Emmanuel Goldstein was the enemy of the state. Anything bad was blamed on Emmanuel Goldstein. Current US despots blame all evil on W.
just as the US has ALWAYS been at war with Israel.
Orwellian reference: Winston Smith worked for Ministry of Truth, his vocation was to rewrite history to conform to current party line. Therefore, when party started war with Eurasia, official party line was that 'we had always been at war with Eurasia'.
BHO will never shed Islamic blood to save Jews, so he will side against Israel during coming conflict. But this will not be a change of policy according to Administration; rather this will reflect historic US position on Israel - a typical Obamaian exercise in Newspeak.
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