Hatchet Job

IT is hit hard by the latest round of layoffs. By Kirk Kjeldsen

The numbers are in. Bear Stearns is chopping 400 positions, half of which are coming from the bank’s IT department. ABN Amro is laying off 600 IT staff, with more layoffs likely to follow. Deutsche Bank is trimming staff by 2,600 positions globally over the next three years, with cuts coming in IT and operations, and Credit Suisse First Boston and Citigroup have also announced IT job cuts.

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