These Wall Street Companies Are Cutting Staff as They Prepare for a Downturn
A running list of where finance jobs are being eliminated as revenue tumbles and warnings intensify that the economy is headed for a slump
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With investment-banking revenue plummeting and a recession looming, Wall Street is in retrenchment mode. The job cuts and hiring freezes that struck the tech world have made their way to the finance industry, with banking executives preparing for what’s expected to be an austere year ahead.
Goldman Sachs Group Inc., Morgan Stanley, Credit Suisse Group AG and Barclays Plc have all either already fired staff or announced that they plan to do so in coming months. Some smaller firms have even completed multiple rounds of terminations.