Waves of layoffs in the financial world

“The crisis of subprimes“ agitated for several weeks financial markets has forced many banks to massive layoffs. No n’iniore that since early August, financial companies have announced nearly 21,000 job cuts, including 11,040 since last Friday. It is the balance that compiles a study carried out by the Challenger, Gray and Christmas released Tuesday. The study noted that these cuts are directly linked to the crisis of mortgages. Facts in record time in three banking companies, a bit less than 8700 jobs have been eliminated. An effect that becomes systemic. Areas close as financial environment have also been hit with last week for 240 layoffs in the division negotiation backed with mortgages. According to experts who drafted the report, about 88000 job cuts in the financial sector, which is twice dismissals recorded during the first seven months of 2006, 41% were caused by the crisis of “subprime” , many companies have gone bankrupt or ceased their activity in this field. The finance sector remains a global carrier, with 8.5 million jobs in the United States in July from 8.4 million a year earlier. That figures includes the period before the crisis of course. Particular situation for HRD consernés who can not wait for the end suspitions. The only positive point, the grounds for dismissal in this type of field is not disputable. Arnaud Chapu