City Jobs Hit Eight-Year Low, Top Firm Says 7% of Investment Banking Staff Could Go This Year

London

The scale of the London’s demise has been laid bare by figures that show the number of frontline workers in the banking industry has fallen to an eight-year low.

The Daily Telegraph reports that the number of 'approved' staff working in the financial services industry has fallen to just under 152,000, the lowest level since the summer of 2004.

Analysis of the Financial Service Authority’s database by corporate finance boutique IMAS, shows that people employed in frontline jobs by banks have fallen by nearly 20,000 since the financial crisis from a peak of about 170,000 in mid-2007.

The collapse of City job numbers shows no signs of slowing and is likely to accelerate, according to separate research from Deutsche Bank, which Tuesday warned that investment banks could cull as much as 7% of their staff this year.

Hit the link below to access the complete Daily Telegraph article:

City jobs numbers hit eight-year low

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