An article relating to this blog post on Finextra:
Credit crunch to cost 20,000 City jobs
As many as 20,000 City jobs will be culled over the next two years as a result of the global credit crunch, according to a report from the centre for economics and business research (CEBR) which warns...
See article
The CEBR forecast for 20,000 credit crunched job losses in the City of London has been trumped by a new analysis from JPMorgan property analysts which puts the total number of redundancies at something closer to 40,000.
To be fair, JPMorgan's figures embrace a wider definition of the 'City', taking in Canary Wharf and some parts of the West End, and include non-finance-related employment. But even on a like-for-like basis, the doomsters at the US bank are forecasting a
cull of some 28,000 jobs in the Square Mile.
I see the CEBR is also predicting that trading volumes on the London Stock Exchange will fall 36% over the next two years. Bad news for the LSE and equally troubling for the legions of new exchange operators waiting in the wings. Executives at Thomson/Reuters
- currently putting the finishing touches to their livery in time for launch later this month - must also be fearful of the consequences for recurring revenue streams from market data terminal sales.