Financial crisis in the U.S. can still generate 200 thousand layoffs, analysts say

The U.S. financial sector has cut jobs in rhythm 
record, and some analysts predict that the layoffs will be 
accelerate over the next 18 months due to reduction in costs after 
current crisis in high-risk real estate credit ( "subprime"). 

Analysts of financial-research firm Celent reported 
this Tuesday they expect that the U.S. banking industry 
cortarão 200 thousand jobs to 2 million during the current 
next 12 to 18 months. A cut of 200 thousand jobs would be 
record in the industry. 

In 2007, the Financial Services - made up of 
major commercial banks - already cut 153 thousand jobs, 
according to human resources consultancy Challenger, Gray & 
Christmas. More than half of those cuts were in the area of 
mortgages and hit the whole country, especially the states of New 
York and California. 

Octavio Marenzi, head of the unit's financial consultancy 
Celent, said that further layoffs are inevitable as the 
crisis in the subprime reach other parts of the business and financial 
Major mortgage interest, of related products and 
credit cards. 

"The banking industry over the past 40 years had never seen a decline in revenue, "he said." In 2008, this shows that will fall 
for the first time in the memory of many. They will have to 
respond with a severe cost-cutting. " 

"You can not see any horizon yet," said John Challenger, which controls the Challenger, Gray & Christmas. "New events will still ... suggesting that there is more to come. "