Gasparino: Knight Capital Fires 8% Of Workforce

The Wall Street job massacre continues at Knight Capital, a capital markets firm in New Jersey.

Earlier this week we heard that 10% of DE Shaw was cut – 150 people at all levels, even portfolio manager.

And now Gasparino is reporting that Knight Capital is layingoff 8% of its workforce.

It’s happening at banks too. BOFA fired 5% of its employees, Morgan Stanley announced that they had instituted a hiring freeze, and Meredith Whitney predicts 80,000 job cuts in the US financial industry alone.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at