More Jobs Go As Firms Tighten Their Belts
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Bloomberg has also now reported that Goldman Sachs is 'eliminating posts in its mortgage and investment banking units as the credit contraction saps demand'. Lucas Van Praag, the firm's communications head, refused to reveal the number of cuts or their geographical locations, but said: 'As you'd expect given market conditions, we have been looking at a number of areas of the firm where we believe we have too many people. We have transfered some to other areas and other regions, but unfortunately others have been asked to leave the firm'.
The news agency also reports that Deutsche Bank is thought to have has laid off 80 staff in its corporate finance unit in recent days. 550 jobs are now thought to have gone from the investment banking unit globally since the back end of last year, and more are likely to go before the markets recover.
Finally, The Financial Times reports that up to 170 jobs are likely to go at Fidelity International in the next few weeks, affecting around 100 London-based staff. The job losses are thought likely to come in the main from support functions and marketing.
