Layoffs! .Layoffs! .Wall Street, "Brokeback to survive".

<P> The past 9 months, Wall Street banks over 34,000 employees because of the subprime mortgage crisis, lost their jobs. .Catching up with large-scale layoffs in the beginning of this century crisis of the technology bubble burst. .</ P> <P> outbreak of the subprime crisis last year, the credit market crunch, the world's largest financial institutions in more than 200 billion U.S. dollars of direct loss, the fifth-largest U.S. investment bank Bear Stearns, or even become a symbol of the wave of Wall Street panic. .As customers and lenders rushed to withdraw funds from Bear Stearns, the company was forced to accept the Fed to support the emergency merger and acquisition program. .Meanwhile, analysts expect more banks will suffer losses. .</ P> <P> It http://finance. Hearing, pursuant to the Securities Industry and Financial Markets Association (Securities Industry and Financial Markets Association) data, during the technology bubble burst, Wall Street firms laid off the first 9 months 3.98 .million two years later they laid off 9 people. .</ P> <P> "The crisis that field than in 2001 even worse, we do not know how long it will last." Managers New York research firm Battalia Winston International's partner Joe Bennett (Jo Bennett .) that the scale of job cuts "may in a few years more than 10 million people." .</ P> <P> because of the subprime mortgage default rates gradually increased and led to the relevant bond prices. .Starting from last July, the company began to streamline the mortgage securities business jobs. .According to data compiled by Bloomberg last year, July to December, a total of 17,000 jobs were cut. .</ P> <P> department of Lehman Brothers Mortgage BNC Mortgage LLC. In August last year, closed before the number of employees to 1,600. .Merrill Lynch in the January 2007 acquisition of mortgage lender First Franklin Financial, the company has 2,300 employees, Merrill Lynch this month closed its mortgage business. .</ P> <P> Overall, since the beginning of 2007, and at least 100 mortgage companies stopped operations, closed or been sold. .</ P> <P> this year, including Lehman Brothers, Citigroup and Morgan Stanley, including banks, are fixed-income trading, securitization, self management and investment banking staff, some administrative and .technology sector employees were laid off. .Goldman Sachs said in January that they may lay off 1,500 people to remove poorly performing employees. .Citigroup has laid off the current 1.7%, 18% Lehman Brothers layoffs, Morgan Stanley laid off 6.2%, 4.5% Merrill Lynch. .</ P> <P> Wall Street's senior management can not "survive", 6, CEO, president or other senior executives 8, and at least 19 department heads in the sub-prime crisis "off." .This includes Citigroup's Charles Springs, Bear Stearns and UBS CEO James Caan, CEO 彼得伍夫利. .</ P> <P>.