In the News

US / Mortgage business has announced 49,000 layoffs the first nine months of 2013

Financial firms are cutting tens of thousands of jobs because of a slowdown in the mortgage business, the sluggish economy, the growth of online banking and new regulations.

The sector announced 49,000 layoffs the first nine months of 2013, most among all industries, outplacement firm Challenger Gray & Christmas said in a report. Challenger expects to report Wednesday the sector was the top job-cutter in October.

Bureau of Labor Statistics data, which tally net job gains or losses after figuring in both layoffs and hiring, also show a downsizing industry. In September, financial companies lost 7,200 jobs after shedding 5,900 the previous month.

The cutbacks represent a reversal from 2011 and 2012 when financial firms had begun contributing to overall U.S. job growth after recovering more slowly than other sectors from the 2008 financial crisis.

Chosen excerpts by Job Market Monitor. Read the whole story at 

USA Today

via Financial firms cutting thousands of jobs.

Discussion

Trackbacks/Pingbacks

  1. Pingback: Wells Fargo / To cut 700 jobs in mortgage | Job Market Monitor - February 27, 2014

  2. Pingback: HSBC – To cut 50,000 jobs | Job Market Monitor - June 10, 2015

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: