Unemployment has overflowed banks

Bank america Lehman Brothers declared dismissal of every tenth employee in the investment division and about preparation for new writing off of bad debts.

So, according to television channel CNBC, bank Lehman Brothers declared dismissal of 200 persons from 2000 working in investment division in expectation of new writing off of the overdued indebtedness.

Lehman Brothers has rather easily transferred hypothecary crisis, having written off all 1,5 billion dollars while losses of other banks reached 10 billion dollars.

The American financial institutions which have lost because of crisis more of 150 billion of dollars, in every way try to minimise the further losses, in particular at the expense of expenditure cut on the wage. So, for example, in banks, costs for workers constitute 50-60 percent of expenses of the company, and in investment companies this indicator still above.

Financial analysts and necessity of reduction by banks of cost of advances portfolioes in sectors of the commercial real estate and private investments mark. By some estimations, writing off in Goldman Sachs will constitute 2,7 billion dollars, and in Lehman Brothers - 500 million.

Are prepared to conduct lay-offs Citigroup, Merrill Lynch, Societe Generale and other banks which have suffered from a conjuncture and own errors. Has not carried to employees Citigroup most. Last year the group has left from 17 000 persons, and in the first months of a current year a door will indicate to 4200 more workers.

In Russia the situation as a whole is easier, though examples of scale reductions are and in our banks.

So, in one of the largest banks in the field of buyer's credits dismiss almost on one thousand workers a month. Off-schedule certification for this purpose appears. There are divisions where for the last three months has taken place already four certifications.

The bank has been forced to change credit conditions and closely to attend to optimisation of costs. There are no issued credits for a point - there are no also the bonuses constituting the lion's share of the wage of the adviser, the employee of the lowest link, whose base salary - only 45-80 dollars a month. Many have left at own will. The general staff, by estimations of employees, was reduced already approximately to 5000-6000 persons, some more thousand wait for the turn. Last year in bank was more than 20 000 employees.

In the Russian branches of some western banks the silent panic already reigns: people are afraid even to say aloud a word "dismissal".

As a result of universal reductions by the end of 2008 in the work world market occurrence of an order of 150 000 unemployed bankers is expected.