22-01-2015, 02:08 PM
An interesting survey result to share, on banking sector, globally...
More job cuts at banks seen in 2015
NEW YORK (Jan 22): The bloodletting at banks that started during the 2008 financial crisis isn’t letting up.
That’s the view of 83 percent of respondents to a quarterly Bloomberg Global Poll who said the banking industry will continue cutting jobs this year.
The reductions will affect firms around the world, 61 percent said, while 21 percent said most cuts will be in Europe and 1 percent said they’d be concentrated in the US.
Only 8 percent expected banks to add jobs this year.
In a separate question, 78 percent of respondents said they didn’t expect the largest banks to break up as a result of tougher regulations penalizing them for size and complexity.
“Sharp market moves, slow economic recovery, the regulatory burden -- all these are restricting banks’ operations,” said Daniel Baker, a London-based analyst at Informa Global Markets and a poll respondent.
“We’ll see more job cuts in the sector until things stabilize.”
Financial firms are struggling to regain their footing years after a US housing-market collapse was followed by a European sovereign-debt crisis.
Four of the biggest US and UK banks have reduced total employment by almost 350,000 since the beginning of 2008, according to data compiled by Bloomberg.
A weak global recovery and regulations designed to prevent another crisis have dented profitability at the largest firms.
...
http://www.theedgemarkets.com/sg/article...-seen-2015
More job cuts at banks seen in 2015
NEW YORK (Jan 22): The bloodletting at banks that started during the 2008 financial crisis isn’t letting up.
That’s the view of 83 percent of respondents to a quarterly Bloomberg Global Poll who said the banking industry will continue cutting jobs this year.
The reductions will affect firms around the world, 61 percent said, while 21 percent said most cuts will be in Europe and 1 percent said they’d be concentrated in the US.
Only 8 percent expected banks to add jobs this year.
In a separate question, 78 percent of respondents said they didn’t expect the largest banks to break up as a result of tougher regulations penalizing them for size and complexity.
“Sharp market moves, slow economic recovery, the regulatory burden -- all these are restricting banks’ operations,” said Daniel Baker, a London-based analyst at Informa Global Markets and a poll respondent.
“We’ll see more job cuts in the sector until things stabilize.”
Financial firms are struggling to regain their footing years after a US housing-market collapse was followed by a European sovereign-debt crisis.
Four of the biggest US and UK banks have reduced total employment by almost 350,000 since the beginning of 2008, according to data compiled by Bloomberg.
A weak global recovery and regulations designed to prevent another crisis have dented profitability at the largest firms.
...
http://www.theedgemarkets.com/sg/article...-seen-2015