Lunchtime Links: Profits plummeting, 10k more job cuts coming

30 June 2008

1 minute read

Lunchtime Links: Profits plummeting, 10k more job cuts coming

Perish the thought that the worst of the credit crunch might be over: profits are falling at their fastest rate for 19 years, thousands more redundancies are on the way. (Telegraph)

But banks may have cut headcount in the first half to avoid bonus-related lawsuits in the second. (Financial Times)

"We're in a nasty environment. There is an inflation shock under way." (Telegraph)

Merrill needs more money. (Reuters)

Paying for collaboration at Citigroup. (Reuters)

"Hello, my name is Vikram. Serial number 110110." (Felix Salmon)

HSBC looks within for private bankers. (Wealth Bulletin)

Forget banking, try leveraging the talents of lippy kids. (Independent)

...or becoming a "corporate humorist". (Wall Street Journal)

Credit crunch: the flow chart. (Alea)

Laying off first years. (Dealbreaker)

AUTHOReFinancialCareers UK

Insider Comment

pa
patto
1 July 2008
Efinancialcareers always runs the negatives, at least we get the worst case from them. That way the eventual outcome may be brighter than we had hoped.
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Jo
John
1 July 2008
'Journalists' are basically lazy, moving from one publication to the next in the hope of getting a bigger salary. Investigative work is a thing of the past thanks to the internet. Just look at the cliches used in the first paragraph of many articles, finance and non-finance.
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Bo
Bottle half full
30 June 2008
Hear, hear robby7712.
Why do you keep talking things down all the time; do you journos get some sort of perverse pleasure in doom mongering or what? All we get from you guys is this perpetual negative rubbish; how about being positive and it might help a few people not lose their jobs and for their families not to suffer as a result.
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ro
robby7712
30 June 2008
These stories are rehashes of the same theme regarding job cuts, cost cuts, profit falls - why do you feel you need to keep punching people in the guts with these bold headlines..?
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