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City hiring plummets to four-year low as firms grapple with economic uncertainty

Banks, fund managers and wealth firms among those cutting jobs

Hiring in the City has been falling since  2022 Jason Alden/Bloomberg via Getty Images
Hiring in the City has been falling since 2022 Jason Alden/Bloomberg via Getty Images

City job vacancies plummeted to a four-year low in 2024 as firms looked to rein in costs amid uncertainty over the UK’s economic outlook.

The number of job openings in London’s financial services sector dropped 28% last year compared to 2023, according to data from recruiter Morgan McKinley.

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