Search
 

High Tech Job Killing

Where will our next generation of jobs come from? The banking sector clearly is not a major growth industry—company staffing counts go sideways, average Wall Street bonuses slide, and retail operations shrink thanks to cash machines and smart phones. And who needs trading floors and as many day traders when transactions are programmed by computer algorithms?

By Jonathan D. Miller | Updated on November 10, 2015

Where will our next generation of jobs come from?

The banking sector clearly is not a major growth industry—company staffing counts go sideways, average Wall Street bonuses slide, and retail operations shrink thanks to cash machines and smart phones. And who needs trading floors and as many day traders when transactions are programmed by computer algorithms. Consolidation has been occurring for years as most major cities have lost their money center banks to the global finance centers—New York, London, Tokyo, Hong Kong, and a few others. Last week’s Wall Street Journal article about Bank of America highlighted how its Charlotte headquarters is just a fiction—most senior executives operate out of the New York area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.