02 April 2008

Analysts see 200,000 banking industry layoffs

Losses driven by housing, economy could take place within next 18 months...

"The banking industry over the past 40 years has never seen a downturn in its revenue growth. In 2008, it looks like it will decrease for the first time in living memory. They're going to have to respond with severe cost cutting. It's not an environment they're entirely used to."

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