Wall Street Job Cut Tally: 34k So Far; Another 20k Projected
By BankersBall on Mar 25, 2008 in Layoffs
The cuts have been tallied.
Bloomberg has done the math on all of the job cuts since July of 2007. Here are the numbers:
| Company | Positions Cut |
| Citigroup | 6,200 |
| Lehman Brothers | 4,990 |
| Bank of America | 3,650 |
| Morgan Stanley | 2,940 |
| Washington Mutual | 2,600 |
| Merrill Lynch | 2,220 |
| HSBC | 1,650 |
| Bear Stearns | 1,550 |
| WestLB | 1,530 |
| UBS | 1,500 |
| Goldman Sachs | 1,500 (performance based) |
| National City | 900 |
| Credit Suisse | 820 |
| Royal Bank of Canada | 500 |
| Fortis | 500 |
| Wells Fargo | 500 |
| Wachovia | 443 |
| Deutsche Bank | 370 |
| JPMorgan | 100 |
| Total | 34,463 |
NYC’s Independent Budget Office is predicting that between 2008 and 2009, we’ll lose another 20,000 Wall Street jobs: 12,600 this year and 7,600 next year, according to Reuters.
There’s more detail to be found in our Wall Street job cuts running tally here.
On Mar 28, 2008, an said:
hey - can you give us these figures as a % of total work force
On Apr 1, 2008, bps said:
http://www.cnbc.com/id/23901262
I guess this is the tip of the iceberg
On Apr 2, 2008, Mr. Bigs said:
MER and LEH going to cut off the dying limb soon…I also love the site poll. Most people are going to get another job? You should start a poll that tracks how long it takes all of this “talent” to get another job. Thanks for playing…