Before the attacks, the mood in London's financial centre was grim. Many investment banks had already begun shedding staff in response to falling share prices. Across the world, almost 30,000 jobs have been axed.
About 10% of these have been lost in London. Credit Suisse First Boston has announced it is cutting 2,000 in the city. Morgan Stanley, UBS Warburg, Deutsche Bank, ING Barings, Lazard, ABN Amro and Societe Generale account for the rest. Back office staff have borne the brunt of the cull but bosses have also been weeding out under-performing bankers.