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Mass. Predicted To Lose 7,200 Financial Jobs

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Oct 30, 2008 6:49 am US/Eastern

Mass. Predicted To Lose 7,200 Financial Jobs

View: WBZ Economic Resource Guide
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BOSTON (WBZ) ― Massachusetts could lose up to 7,200 jobs in financial services over the next year thanks to the global financial crisis. The job loss predicted by Moody's is equal to about four percent of the state's financial services employees.

The Moody's report notes that banks and mutual fund firms are already cutting jobs. 900 were cut in September alone.

Earlier this week it was reported that Boston-based Fidelity Investments may cut up to 4,000 jobs, though not all in Massachusetts.

Financial services jobs currently make up about fiver percent of the Massachusetts workforce.

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