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.