In the last 24 hours, these layoffs were announced:
Royal Bank of Scotland: 2,800
Credit Suisse: 5,300
NBC Universal: 500
These don’t include massive recent cuts at Citigroup, Bank of America/Merrill Lynch, Goldman Sachs, Morgan Stanley, and dozens of other smaller banks, hedge funds, and private equity groups.
Plus, another 509,000 new jobless claims last week. Highest level in 26 years.