Friday, April 11, 2008

Top investment banker sees Wall St banks cutting 35% jobs

(NEW YORK) Kenneth Moelis, the former president of UBS AG's investment bank, said Wall Street firms may have to eliminate as much as 35 per cent of employees as leveraged lending dwindles and the pace of mergers and acquisitions (M&As) slows.

Source: http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/news/story/0,4574,274725,00.html?

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