The "job hemorrhaging" in financial-services IT is expected to end during the third quarter of 2003, according to a survey by NationStaff, a New York City-based executive-search firm. More than 75 percent of the survey respondents believed that layoffs in financial services would end in 2003. The survey also found that the business groups held the hiring responsibility, rather than the IT managers.
Areas where jobs may be found more quickly include: IT fixed-income and trading positions, more so than equity, research marketing or derivatives.
In addition, fixed income as a business line will get more capital to build advanced platforms to the detriment of equity, risk and derivative products, notes the poll analysis.
The poll canvassed IT managers, business managers and senior human-resources managers at brokerage firms and investment.