Financial firms in the US: Back to financial crisis losses?

After finally recovering from the 2008 financial crisis and adding jobs again in 2011 and 2012 it seems that financial firms are again in disarray in the US. As mortgage refinancing fell and Wall Street activity slowed financial firms were cutting tens of thousands of jobs.

The slowdown in the mortgage business, the sluggish economy, the growth of online banking and new regulations were mainly cited as the reasons for the renewed downturn by US media.

Altogether the finance sector announced 49,000 layoffs in the first nine months of 2013, the highest number amongst all industries, outplacement firm Challenger Gray & Christmas said in a report. According to Bureau of Labor Statistics data, financial companies shed 7,200 jobs in September after losing a further 5,900 jobs in August.

http://www.usatoday.com/story/money/business/2013/11/02/financial-services-firms-job-cuts/3283105/