Remember Xerox…

In the 70s Xerox decided that they could give away the low-end printer business because they could keep the high-end to themselves. That worked so well that the company almost died.

Now the financial analysts that thought it was a good plan have decided to do the same thing to themselves!

“The jobs most affected so far are those with grueling hours, traditionally done by fresh-faced business school graduates — research associates and junior bankers on deal-making teams — paid in the low to mid six figures.”John Robb’s Weblog: Outsourcing Wall Street