Job cuts predicted by CBI
31 March 2008 17:51
The UK's financial services sector could be facing a number of forthcoming job cuts, it has been claimed.
According to the results of a study by the Confederation of British Industry (CBI), in partnership with PricewaterhouseCoopers, with the job losses potentially occurring over the next three months there is a possibility that at least 10,000 positions could be lost.
Moreover, according to the findings of the CBI's quarterly survey for the financial services sector, most of the businesses questioned confirmed the belief that, over the next two quarters, the current credit crisis could worsen.
"This is a very serious crisis. Some have suggested it's the worst financial crisis since the second world war," said Ian McCafferty, chief economist at the CBI, in a report by the BBC.
"I think one of the key characteristics is that it will go on for quite some time to come."
The CBI lobbies on behalf of the UK's business sector.
According to the results of a study by the Confederation of British Industry (CBI), in partnership with PricewaterhouseCoopers, with the job losses potentially occurring over the next three months there is a possibility that at least 10,000 positions could be lost.
Moreover, according to the findings of the CBI's quarterly survey for the financial services sector, most of the businesses questioned confirmed the belief that, over the next two quarters, the current credit crisis could worsen.
"This is a very serious crisis. Some have suggested it's the worst financial crisis since the second world war," said Ian McCafferty, chief economist at the CBI, in a report by the BBC.
"I think one of the key characteristics is that it will go on for quite some time to come."
The CBI lobbies on behalf of the UK's business sector.
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