Two of the banking and financial world’s big names have begun laying off workers, says Bloomberg .com. Word is that 12,000 workers, possibly more, will be axed over the next year. Wednesday, Goldman Sachs Group Inc. began informing some 3,200 employees – 10 percent of its workforce – that they will soon lose their jobs. Citigroup Inc., started issuing notices earlier this week to the first of the 9,100 workers – 2.6 percent – it plans to let go.
Meanwhile, Monster’s Employment Index was down 10 points in October. That’s a 20 percent decline over where the index stood a year ago. The index is a monthly gauge of U.S. online job demand based on a count of online job listings from thousands of corporate and commercial job boards, including Monster (profile; site).
No surprise that hiring has slowed. Outplacement firm Challenger, Gray & Christmas says employers announced another 112,884 job cuts in October.
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Friday, the Bureau of Labor Statistics releases its employment counts for October.