Wall Street job-trimming touches former untouchables

04/24/2012 | Wall Street Journal, The

New regulation, shrinking profits, and a slump in mergers and acquisitions have led several banks to trim their investment banking units. Wall Street's layoffs have mainly hit trading desks, shedding thousands of positions. But the cost-cutting has spread to deal-makers and corporate advisers, roles that traditionally have been among the Street's most high-profile even as their effect on the bottom line has been eclipsed by traders.

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