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175,000 finance jobs to go worldwide

Staff Reporter 1 minute read

Up to 175,000 jobs with financial firms could be axed globally by this time next year as a result of write downs and reduced revenues at major banks.

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US-based Citigroup recently announced over 13,000 job cuts (around four per cent of their total workforce) and other banks are expected to follow suit.

Financial service employees in London are expected to be the hardest hit; estimates from the Centre for Economics and Business Research predicted a loss of 19,225 jobs in 2008 and 2009.

Published: 25-06-08

175,000 finance jobs to go worldwide
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