Financial sector layoffs rise

U.S. financial firms cut staff dramatically, causing widespread layoffs from Wall Street. 21% more job cuts have been made this year, as banks, firms, and brokers eliminate 11,413 positions. Most cuts are made in retail banking operations. Layoffs are expected to increase throughout 2011 because of the continually falling stocks on Wall Street.

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Financial sector layoffs rise, more cuts ahead

Financial sector layoffs rise by Harrison Barnes