New York to Retrain Laid-Off Wall Streeters
Just as Michigan is scrambling to retrain laid-off auto workers, New York City officials have come up with a plan to find new work for the unemployed from one of its core industries: financial services.
Under a program unveiled on Wednesday by Mayor Michael R. Bloomberg, the city wants to invest $45 million in government money to retrain investment bankers, traders and others who have lost jobs on Wall Street, as well as provide seed capital and office space for new businesses those laid-off bankers might create.
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