BUSINESS
09/08/2010 11:04 am ET | Updated May 25, 2011

Wall Street Will Cut 80,000 Jobs In 18 Months: Meredith Whitney

Securities firms around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, said Meredith Whitney, the former Oppenheimer & Co. analyst who now runs her own firm.

The reductions, about 10 percent of current levels, will come after 2010 compensation payments, Whitney, 40, said in a report dated Aug. 31 and obtained by Bloomberg News today.

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