8000 financial services position to be shed: is this is an accurate picture of the whole sector?

Recent reports that the UK financial services sector is to shed 8000 jobs over the next quarter will, no doubt, send shudders down the spine of candidates throughout the City. But is this an accurate picture of the whole sector, or simply another example of one report providing misinformation about recruitment levels?

The survey, conducted by the CBI’s employers’ group claims that “with business volumes predicted to slow further and little growth in income expected, firms are planning to reduce their headcount in the next quarter”.  If these claims are true, the financial services sector is on course to lose a substantial number of the estimated 1.1 million people it employs.

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