Global securities firms, facing slowing revenue growth, will cut about 80,000 jobs, or 10% of...

|By:, SA News Editor

Global securities firms, facing slowing revenue growth, will cut about 80,000 jobs, or 10% of current head count, over the next 18 months, Meredith Whitney says. A “deeper secular change” brought about by declining revenues is behind the shift, she says, although regulatory reforms and requirements for higher capital levels will play a role.