Trend > Featured > Breakingviews – Wall Street job cuts will be shallow and painful
Breakingviews – Wall Street job cuts will be shallow and painful
Sometimes, Wall Street needs a cull. One such moment arrived seven years ago, when firms like Morgan Stanley and Goldman Sachs faced up to the realization that trading fixed-income securities was not the money-spinner it had been in the past. Heads rolled. Now big banks are bracing for another big adjustment, as the surge in revenue created by two years of wonky markets and exuberant dealmaking comes to an end. This time the cuts are likely to be shallower, but still traumatic.

Breakingviews – Wall Street job cuts will be shallow and painful

Sometimes, Wall Street needs a cull. One such moment arrived seven years ago, when firms like Morgan Stanley and Goldman Sachs faced up to the realization that trading fixed-income securities was not the money-spinner it had been in the past. Heads rolled. Now big banks are bracing for another big adjustment, as the surge in revenue created by two years of wonky markets and exuberant dealmaking comes to an end. This time the cuts are likely to be shallower, but still traumatic.