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Financial sector has cut 220,000 jobs this year - 91,000 in November
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Citigroup's announcement of some 53,000 job cuts
last month was part of the second-worst month ever
for the financial sector.
The nation's financial sector was reeling after the September 2001 terrorist attacks, with record job losses across the industry in the days following Sept. 11.
This past November saw job cuts approaching those numbers.
Labor tracking firm Challenger Gray & Christmas said today that the financial sector cut 91,356 jobs in November, just behind the record 96,333 layoffs in September 2001.
Citigroup last month said it would cut some 53,000 jobs, making up the bulk of the layoffs this time around.
Obviously, the financial sector is still struggling." - John Challenger, CEO of Challenger Gray & Christmas
Chicago-based Challenger reported banks and other financial institutions have announced 220,506 job cuts this year through November, some 73,000 more than through the same period in 2007.
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