Bad news as bankers return back to work Monday. It looks like some employers passed out pink slips prior to the holiday weekend, and more rumors of layoffs in the finance world are emerging. The latest rumors and reports of layoffs are at Wells Fargo & Co. (NYSE:WFC), Western Corporate Federal Credit Union and Stanford International Bank.
- Wells Fargo announced layoffs in three credit card divisions located in Sioux Falls, S.D., last Wednesday, but the bank did not reveal how many employees would be laid off, according to ArgusLeader.com
- Western Corporate Federal Credit Union eliminated 30 employees and will also let go of 60 branch processing employees over the next 12 months, according to CuTimes.
- R. Allen Stanford's companies are doing some massive restructuring due to the alleged $7 billion offshore Ponzi scheme he is accused of. The layoffs will affect the businesses in Antigua including Stanford International Bank, according to Chron Business News. Layoffs will also occur at other businesses owned by Stanford, including the Athletic Club, Stanford Aviation, Stanford
Development Co., Sticky Wicket and Pavilion Restaurant, and Sun
Printing & Publishing, according to Dominica news online.
It's a tough employment market for
financial professionals, but there are
jobs as companies are
hiring. In fact, Royal Bank of Canada (NYSE:RY) is hiring in Europe, according to
Hedgeweek. Jefferies Group has also been
aggressively hiring. Here's our
pick of the day from The Deal's Career Channel:
Negotiator / M&A Deal Leader in New York
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 or hiring rumors you are hearing. - Maria Woehr
follow me on twitter @newsgirlmw
Also see:
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Finance Layoffs: MassMutual, ING and more
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Finance Layoffs: BearingPoint and more
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Finance Layoffs: Stanford Financial and more
Finance Layoffs: Stanford Financial, BofA and more
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