Global Financial Sector Lost 400,000 Jobs Since 2007

According to Reuters, banks, insurers and asset managers worldwide have announced 373,760 job cuts since August 2007.

The five firms that top the list for layoffs are Citigroup with 75,000 jobs cut; Bank of America with 45,500; JP Morgan with 23,700; UBS with 19,700; and HSBC with 16,250.

Collapsed Lehman Brothers made about 6,000 job cuts made before the bank collapsed in September; an estimated 10,500 were left jobless after the bank collapsed.