文章基本信息

标题：Pershing adds to the City job losses tally
作者：PAUL ARMSTRONG
期刊名称：London Evening Standard
印刷版ISSN：2041-4404
出版年度：2001
卷号：Jul 16, 2001
出版社：Associated Newspaper Ltd.

Pershing adds to the City job losses tally

PAUL ARMSTRONG

JOB losses are continuing to mount in the City with Pershing Securities today telling 45 of its 700 employees that they will lose their jobs.

Pershing, which has dealing and settlement operations, blamed lower market turnover for the need to cut costs.

A spokesman said there was no sign at this stage that any further job losses would be needed.

He said the cuts were being made in the areas of dealing administration and settlement, with no traders expected to lose their jobs.

Pershing, which is owned by CSFB, carries out backroom functions for several broking houses as well as operating its own trading facilities.

The cuts came as fresh figures from Thomson Financial revealed that trading volumes of British book-builders had fallen by 25% in the first half of this year compared with the same time last year.

Thomson Financial found that only UBS Warburg had increased the amount of capital it raised.