Wall Streets cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over.
Citigroup Inc.s announcement yesterday of plans to eliminate 11,000 positions in units spanning equities trading to consumer banking is the latest sign of strain from a market slowdown, stiffer capital rules and weak economic growth. Lenders around the globe are likely to trim more jobs if revenue doesnt rebound sharply next year, analysts and recruiters said.
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