By the Time You Read This Another Firm Will Have Made Hundre

by Derek Loosvelt | November 17, 2008

Today, in a sign that the job cuts across the financial industry are far from over, Citi said it’s cutting 50,000 jobs (mainly by divesting units), Putnam Investments says it’s cutting about 50 execs, BlackRock’s making layoffs, UBS is bringing out the axe again, and J.P. Morgan is on the verge of another round of cuts. And all this on a Monday, four days before the preferred job-cutting day of the week.

Other finance fun that’s been atop web pages today include top execs at Goldman Sachs foregoing bonuses this year, in what’s likely to be the first of many similar announcements (bye bye bonuses, indeed), and the insider trading case against Dallas Mavericks owner Mark Cuban which, according to Cuban, via his blog, is a “product of gross abuse of prosecutorial discretion.” In other words, the folks down at the SEC (like NBA officials) are freakin' blind!

 

Filed Under: Finance


Setting direction? More like taking direction. High Court provides pre-packaged Daily Show material

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