August 23, 2007

Job cuts in the finance sector?

According to the Centre for Economics and Business Research, there is the possibility that thousand of jobs could be at risk, along with the reduction of annual bonuses within the UK’s financial sector.

There are figures being mentioned, which are around 5,000 job cuts, this has come about due to the companies trying to cut back on their huge expenses, which goes up against the massive loses that some firms have been having to endure.

Last week was an indication of how fragile the financial sector is, when news of defaulting mortgage owners sent a ripple that went out covering virtually the entire world stock markets. Fortunately the markets recovered fairly quickly, but this is a warning and the financial sector is very good at reading between the lines.

Maybe they know something that the rest of us do not!

Source [SMH]

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