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A total of 87 businesses in the capital were polled by the Confederation of British Industry (CBI) and the accountancy firm PricewaterhouseCoopers, who say that the credit crunch has exacted an even greater toll on the financial services sector in the recent months, according to the Daily Mail.
Ian McCafferty, chief economic adviser at the CBI said: "Profitability in the sector is being badly hit, so firms are trying hard to trim costs by planning to cut back on training and marketing for the first time in a number of years."
The previous quarter report for the month of April correctly forecast that 10,000 workers would lost their jobs.
The Financial Times reports that business fraud is also on the rise amid the credit crunch.
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