Financial Firms Slash Jobs

As the mortgage crisis evolves, banks are cutting jobs:

• Citi cuts 50,000
• JP Morgan mulls layoffs
• Fidelity lays of 3000

Whether you love the financial institutions or you hate them, it is sad to see people finding themselves without a job in a difficult economy. For some people, a layoff may bring some good change into their lives. Others will just have a harder time paying the bills.

Have you ever been affected by a layoff, and was it a good or a bad thing for you? Tell us about it in the comments.

Further reading:

• Mortgage Crisis Causes
• What to Do When You're Downsized