February 14, 2008
Heads still Rolling at Bear Stearns
Bear Stearns announced an extra 800 cut in its mortgage employees. The overall number of redundancies has risen to 1,400 – 10% of previous year’s head count.
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February 15th, 2008 at 3:14 pm
Wouldn’t be so intriguing to find out where all these thousands of unemployed from banking and financial institutions are going to work at? Unfortunately, the property market is going through its own turmoil. Such a bad timing for them poor brokers, the poor poor poor traders… they can’t even become estate agents
February 15th, 2008 at 6:02 pm
With so many recruitment agencies in London, I am sure that we will very soon find out if there is a shift in career choices.
However, keep in mind that London has about 1.3 million financial workers for whom the average salary, which excludes the bonus, rose 5% from a year earlier.
So, regardless the huge amounts of investors money lost … the average salary for someone working in the finance industry currently stands at £53,246!
Do you still feel sorry for them?
February 15th, 2008 at 7:33 pm
Well, I always thought numbers should be doing the talking in many occassions. On this one I am certain!! I guess if you can’t beat them, join them. Do you know of any vacancies?
February 15th, 2008 at 7:47 pm
February 16th, 2008 at 12:19 am
God, you have announced so many people being fired I have lost count.
What happens when unemployment rate goes up?