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DOWNSIZING Wall Street Could Ax 10,000 Jobs Jin Lee / AP Photo

Wall Street Could Ax 10,000 Jobs

Never mind the protesters. New York’s securities sector could lose 10,000 jobs by the end of next year, according to a new report from the state’s comptroller. Bonuses are likely to be downgraded as well due to lower profits. If the prediction bears out, it would be a 17 percent reduction in Wall Street’s job force and blow to the state’s economy. The comptroller estimates that one in 13 jobs throughout New York—and one in 8 within New York City—depends on Wall Street.

October 11, 2011 9:46 AM