October 22, 2002

Unemployment at every level

Unemployment at every level


First Boston laid off its chief market strategist and at least 1749 other people. During the two years I was investment banking (and, I admit, I picked the worst time in history to give that a shot), about all people talked about was layoffs. They were stunned, because most had never lived through a downturn, certainly not like this. Robertson Stephens crashed and burned and almost every major bank let huge numbers of people go. This is a recession that is hitting every level of the economy.

Posted by Mitch Ratcliffe at October 22, 2002 11:04 PM | TrackBack
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