April 3, 2008

Job cuts in Finance sector

With news coming across from the states saying that around 20,000 jobs could be at risk in the financial services sector, it is only natural that we in the UK should be concerned as what happens there normally drifts across the water and affects here.

Unfortunately in this case the trend has remained true, and according to the employers organisation the CBI there could be at least 10,000 jobs cuts in the UK financial service sector within the next three months alone.

This crisis in the financial sector is set to have a few more twists and turn before things settle down, but with so many jobs loses in such a short time there are doubts whether or not the industry in the UK could survive the long term or if this is the way forward. Whatever happens in the next few months is going to affect a lot of people.

Source [BBC News]