Goldman Sachs Group is adding around 1,000 positions in its Singapore office. The company did not explicitly say that this would mean an equivalent number of job losses in America.

Pasadena, CA -- (SBWIRE) -- 07/04/2011 -- Jobs are being cut again in Wall Street, and this time even high paying jobs in prestigious firms are being cut.

Goldman Sachs Group is adding around 1,000 positions in its Singapore office. The company did not explicitly say that this would mean an equivalent number of job losses in America. But it is concerned about critics in Congress and has been alerting aides of lawmakers about its hiring plans. The firm also plans on cutting $1 billion in costs this year, which many fear will mean more layoffs.

The employees that Goldman Sachs will be hiring in Singapore are going to be high-paying and skilled professionals. They will be working in its sales and investment banking departments. Goldman Sachs will also be expanding its operations in Brazil and India.

Credit Suisse Group will also be cutting 400 to 600 employees, while Barclays PLC has so far cut over 700 jobs. The Wall Street Journal says that the main reason for these changes is the changed environment after the passage of the Dodd-Frank Act. With new regulations in place, companies like Goldman need fewer people working for them.

The financial industry may be going through mergers and acquisitions, but jobs do exist across the country for well qualified people as well as for new graduates looking for entry level financial services jobs. FinancialServicesCrossing, a job aggregator website for finance professionals, has found over 22,000 jobs in the last seven days.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Pasadena, CA -- (SBWIRE) -- 06/27/2011 -- Financial firms are still cutting jobs and are expected to continue to do so, says a report from Challenger, Gray & Christmas.

There were mass layoffs in the sector in 2008 as well, but this time the layoffs are said to be permanent. The report from Challenger, Gray & Christmas has said that the financial sector is going to be cutting 21 percent more jobs this year than in 2010. Over 11,000 jobs are expected to be cut by banks, brokers, and insurance companies.

As of now, most of the layoffs have been in the retail banking sector and more recently in the smaller regional banks. Challenger's report predicts that the next big round of layoffs will be in the large investment firms and commercial banks. The reason given is that there are now fundamental changes in the way financial firms are doing business.

The good news for those interested in working in the financial sector is that major Wall Street firms are now recruiting veterans. At a recent job fair hosted by the U.S. Chamber of Commerce, Citigroup, Goldman Sachs, Credit Suisse, and Bank Of America among others showed up to interview veterans of Iraq and Afghanistan wars.

There were over 100 firms at the job fair which was held aboard the USS Intrepid. FinancialServicesCrossing, a job aggregator site for the finance professionals has found over 20,000 jobs in the sector in the past seven days.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

CEO A. Harrison Barnes of FinancialServicesCrossing. FinancialServicesCrossing is a job aggregator site that focuses only on jobs in the financial sector.

Pasadena, California -- (SBWIRE) -- 09/24/2010 -- New York State lost about 4,400 jobs in the financial sector in August. But the number of people employed by financial firms went up in New York City.

The biggest job losses in the financial sector happened in the investment banking and brokerages services. These two sectors lost 7,800 jobs in the state during the past 12 months. Overall, employment in the financial sector was down from 678,100 in August 2009 to 673,700 in August 2010. The data is taken from the New York State Department of Labor.

In New York City, the financial services sector reported a modest job increase of 500 jobs in the past 12 months. The city now employs 433,200 people in financial services. The city seems to be showing signs of recovery at least in the financial sector.

"There may not be many jobs for entry-level professionals; but there are still thousands of jobs for more experienced professionals" says CEO A. Harrison Barnes of FinancialServicesCrossing. FinancialServicesCrossing is a job aggregator site that focuses only on jobs in the financial sector. The site has been able to find over 6,000 jobs in New York, with over 4,000 of them in New York City.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

A. Harrison Barnes, CEO of FinancialServicesCrossing. The niche job site has financial services jobs in all major cities including New York City, Chicago, Atlanta and Los Angeles.The states with most jobs in this sector are: New York (2,431), Texas (1,367), California (2,651), and Illinois (934).

Pasadena, CA -- (SBWIRE) -- 07/14/2010 -- Well Fargo & Co. has announced layoffs of 3,800 employees nationwide as it is closing 638 independent consumer-finance branches and stop making nonprime home loans. Last month Citigroup Inc. announced that it will cut around 720 jobs and close 376 branches at its CitiFinancial consumer-lending businesses in the US and Canada.

Reports from local media about unemployed people suggest that layoffs in the financial sector seem to affect the lower-level staff more than middle management and higher-ups. Most of the laid-off workers also happen to be in their fifties and have a harder time finding a new job, especially one with comparable pay and benefits.

However, FinancialServicesCrossing.com, a niche job site focusing on just jobs in the financial services sector has been able to list almost 70,000. "New York is not the only place for jobs in this field. There are financial executives needed all over the country even in this economy. For entry level positions to other experienced executives, there is a demand everywhere from California to Texas." says A. Harrison Barnes, CEO of FinancialServicesCrossing. The niche job site has financial services jobs in all major cities including New York City, Chicago, Atlanta and Los Angeles.

The states with most jobs in this sector are: New York (2,431), Texas (1,367), California (2,651), and Illinois (934).

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm