Employment in UK financial services falls again

U.K. financial-services employment fell for the second consecutive quarter as banks cut costs amid restrictions on capital and tougher regulation, according to a Confederation of British Industry survey.

Bloomberg News reports that 39% of firms questioned said they expect employment to decline, more than the 26% that plan to increase headcount next quarter, according to a study released on Monday by Britain’s largest lobby group and PricewaterhouseCoopers LLP.

Transactions were unchanged in banking and building societies for the quarter ended in March, with the latter 'stabilizing' after a sharp fall last quarter, the survey found.

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