More bad news for bankers as banks such as UBS (NYSE:UBS) have announced massive cuts.
Thankfully the number of layoffs seems to be slowing down,
according to the Labor Department. The number of U.S. workers filing new claims for unemployment benefits unexpectedly declined to 631,000 in the week ended April 25 from a revised 645,000 the prior week.
Here are the latest rumors and reports of finance layoffs:
- UBS has cut 2,000 U.S. jobs including 600 U.S. financial advisers and 1,400 back-office staff, all in wealth
management.
- Bank of Montreal (NYSE:BMO) is laying off 90 to 100 investment advisers at its retail brokerage unit, according to The Wall Street Journal.
- Allen & Overy LLP, a law firm that works on business transactions, has cut 247 employees globally. The firm laid off 47 partners, 100 fee-earners and 100 members of support staff, according to The Lawyer.
- Kuwaiti investment bank cut 10% of its workforce, according to eFinancial Careers.
It's rough out there, but there are jobs to be found. The New York Fed is seeking a financial analyst/corporate bond analyst, according to Zero Hedge, and Bank of New York Mellon Corp. (NYSE:BK) is hiring staff for its China fund management joint venture, according to Reuters.
For a roundup of all the announced layoffs to date, check out The Deal's Pink Slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff tips or rumors you are hearing. - Maria Woehr
(Follow me on twitter or send me tips: @newsgirlmw)
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