Layoffs expected to slam Wall Street

The Wall Street itself is expecting the recent slashing off of thousands of jobs to slam the stock market, particularly in US.


Those layoffs will drain New York and other cities of vital tax dollars while swelling the fast-growing ranks of the nation's unemployed. U.S. employers cut 533,000 jobs in November — the most in 34 years — including 32,000 in the financial-services sector, the government said Friday.

more...