Blood on the street
Article Abstract:
Investment banks are likely to shed jobs, especially on Wall Street. The stock prices of investment banks have fallen, and job shedding is one way to remedy this, which will help executives with stock options. Credit Suisse First Boston has made large losses from emerging market operations, and Bankers Trust looks set to report a loss. Elsehwere, job losses are reportedly planned at Chase Manhattan, Merrill Lynch, J.P. Morgan and Morgan Stanley. Star performers are likely to be retained, and proprietary trading arms are likely to be especially affected.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Red braces, pink slips: Wall Street
Article Abstract:
Wall Street's investment banks have long been notorious for hiring excessive amounts of people during boom times only to fire them when cost cutting is required. This is again the case now, as people hired during the record business volumes of the early 90's are now facing layoffs.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1995
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