Uncategorized
Staff Cuts at Investment Banks May Affect Jobs for C.U. Seniors
|
Wearing their ties, high heels and power-suits, Cornell students interested in finance careers or investment banking are heading to recruiting activities in Barnes Hall and various other locations throughout campus, yet many will find the competition fiercer than they might have expected. According to Reuters.com, the financial industry has already made 75 percent more job cuts this year than in all of 2006 combined — an indication that large employers of Cornell undergrads, like Lehman Brothers and Goldman Sachs, may be cutting back on their number of hires this year.
“The impact for Cornell is going to be severe and widespread. A lot of companies are going through the motions. While they show up, they have no intention of employing,” said Prof. Charles Chang, finance.