Women in financial services 'harder hit' by recession

The economic downturn has presented a bigger challenge for women working in financial services, it has been suggested.

Recently, the Confederation of British Industry released a survey carried out with PricewaterhouseCoopers which revealed firms expect staff numbers to rise over the next quarter.

If this increase in staff occurs, it will be the first time since December 2007.

According to India Gary-Martin, president of the City Women's Network (CWN), the difficulty of juggling a full-time job with childcare means a recession can "be very challenging for women with families".

"When the economic environment requires companies to tighten their belts, longer hours and less flexibility often ensue."

She added that during the economic downturn, efforts to put more women in senior roles were not prioritised.

"Initiatives to increase the number of women on boards are less attractive to companies whilst fighting through in a recession. The immediacy of commercial issues are often cited as the reasons for reduced focus."

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