Quote:
Originally Posted by Unregistered
Fact is you can get retrenched in any job, even civil service and stat boards. Some taxi drivers are also asked (forced) to quit driving!
The risk is about the same, just that finance is a bigger target for people to talk about.
Given this risk of getting the sack, it's always better to be in finance cos it pays well.
When the semicon industry fired people by the thousands, no one bat an eyelid.
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Agree, there are indeed some retrenchments ongoing in some european banks, but nothing massive.
This world may not need funky structured CDOs, but it still need financial services from basic depo/loan, capital market access, trade financing, custodial services, to sophisticated risk management hedging, investment advisory, M&A/Corp finance advisory.
Other industries are going through tough times, a few headlines like below can also be seen
Nokia Siemens to Cut Work Force by 17,000
Amd Slashes 10% Of Workforce