Layoffs -- so far, and what's next

**Credit Suisse announced yesterday plans to remove 500 jobs in securities and support. How many in ny?http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFj1YxfayMII
**UBS to cut 2000 per news reports
**rumored that Barclays cut Lehman staff yesterday.

what are you looking to get out of the news LP1?...in other words what is your motive for wanting to know? Looking for a new job? Considering relocating? what's up?

Good question steve, I don't have any one answer for you though. It's a combination of 1)speculating what life/employment in nyc will be like in the next year or more, 2) determining how hard employment is to come by locally if you do lose your job 3) predicting it's impact on housing, sales and rentals.

As an example of how we take on board these news stories:
I was speaking with another broker at an open house last week. She said, "a few years ago, my buyers were all investment bankers. Now they're mostly Verizon technicians."
For a moment, I thought she was suggesting that those former investment bankers had been re-trained to work for utilities companies! And it made sense to me...

700 at Time in 2 weeks, not sure what % is NYC. Publishing is taking a beating - Nielsen, Time, McGraw all having layoffs, Inc/Fast company had one a couple weeks ago, Radar went out of business last week - list goes on...

If consumer spending is really as bad as it seems, you are going to see a lot more layoffs everywhere. It might take a while to trickle through. And with consumer confidence numbers yesterday, it doesn't seem like consumers are interested in buying.

This morning Roubini said he expects unemployment to peak at 8-9%. Hopefully that is a good worst case prediction from Mr doom and gloom.