Wall Street Bank Job Cuts Set to Surpass 11,000 as CEOs Unwind Hiring Binge

Financial Times, Stephen Gandel, June 16, 2023

June, 2023

In the Media

FINANCIAL TIMES: Wall Street is dealing with the most challenging recruitment market since the financial crisis. DHR Global’s Jeanne E. Branthover explains what is happening after record-high hiring in the aftermath of the pandemic, as reported in Financial Times by Stephen Gandel:

“Last year, hiring was crazy. I was told by many firms we are not just hiring because we are busy, we are hiring the best talent and retaining them to stay competitive. It used to be one-out, one-in, but now managers are being told there has got to be a very specific reason to make a hire. Now even though one is out, it does not mean they are getting approval to hire a replacement.”

Read the article here.

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