These 7 Big Banks Will Be Firing Employees Soon

Wall St. banks are planning a fresh round of layoffs, highlighting both the economy and the uncertainty surrounding new financial regulation.  Banks mentioned as considering layoffs include:

  • Goldman Sachs (NYSE:GS): Quarterly revenue growth year over year is -6.9% and quarterly earning growth for the year over year period is -20.9%.  The company earned $5.32 billion on revenues of $38 for the trailing 12-month period.  4.8 million shares are sold short, an increase from last month’s total of 4.4 million.  The short position equals .9% of the company’s float.  The shares have traded in a 52-week range of $129.50 to %175.34, most recently trading at $136.09.
  • Bank of America (NYSE:BAC): Quarterly revenue growth year over year is 4.1% and quarterly earnings growth for the year over year period is -35.6%.  The company lost $4.46 billion on revenues of $82.68 billion for the trailing 12-month period.  100 million shares are sold short, compared to 87.7 million for the prior month, and which is equal to .9% of the company’s float.
  • Credit Suisse (NYSE:CS): Quarterly revenue growth year over year is -9.9% and quarterly earnings growth year over year is -44.6%.  The company earned $4.44 billion in $35.8 billion in revenues for the trailing 12 month period.  1.34 million shares are sold short, compared to 1.76 million for the prior month period.
  • Morgan Stanley (NYSE:MS):  Quarterly revenue growth year over year is -16% and quarterly earnings growth year over year is -45.5%.  The company earned $2.61 billion on revenues of $30.27 billion for the trailing 12 month period.   11.76 million shares are sold short, compared to 12.1 million in the prior month, which short position represents .9% of the company’s float.
  • Barclays (NYSE:BCS):  Quarterly revenue growth year over year is 34.1% and quarterly earnings growth year over year is -84.9%.  The company earned $5.7 billion on revenue of $41.82 billion over the trailing 12 months.  4.03 million shares are sold short, compared to 5.36 million sold short in the previous month.  The shares have traded in a 52-week range of $15.36 to $21.95 and most recently traded at $16.42.
  • JP Morgan Chase (NYSE:JPM): Quarterly revenue growth year over year is 16.4% and quarterly earnings growth year over year is 67%.  The company earned $17.9 billion on revenues of $89 billion.  35.2 million shares are sold short, which represents 0.7% of the company’s float, and which compares to 29.5 million shares sold short in the prior month.  The shares have traded in a 52-week range of $35.16 to $48.36 and most recently traded at $40.36.
  • Citigroup (NYSE:C): Quarterly revenue growth year over year is -1.3% and quarterly earnings growth year over year is -32.3%.  The company earned $9.3 billion on 61.1 billion for the trailing 12 month period.  48.39 million shares are sold short, which represents 1.4% of the company’s float, and is compared to 42 million shares sold short in the prior month.  The shares have traded in a 52-week range of $36.20 to $51.50 and most recently traded at $37.63.

(Note: Selected financial data is sourced from Yahoo! Finance.  All data are assumed to be accurate.)

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