London Firings Seen Surging as Finance Firms Add NY Jobs
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Financial firms in London, besieged by Europe’s sovereign-debt crisis, probably will shrink their workforce this year, snapping a hiring rebound from 2008’s credit crisis as New York’s industry ekes out job growth.
Banks, insurers and other financial-services firms may eliminate about 3,000 jobs across greater London as companies in the New York region add 9,000, according to U.K.-based researcher Oxford Economics Ltd.