2008 has got off to a slow start, with fixed income in the toilet, M&A having stalled and, despite recent volatility, some equities units are also struggling. So far, although there's been pockets of jobs losses in London, there's been no major blood on the streets. The biggest culls in the City are thought to have taken place at Citi, Merrill Lynch and UBS, where redundancies are thought to have been in the low hundreds, rather than in the thousands.
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10,000 City Jobs Likely To Go This Year
