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Brexit will cost 10,500 City jobs

London financial services firms plan to move 10,500 jobs out of the UK on "day one" of Brexit, with Dublin and Frankfurt the financial centres most likely to benefit from the UK's departure from the EU, according to hawkish professional services group EY.

The EY job tracker, which counts job announcements to the end of November, found that the number of roles likely to be affected had fallen from estimates of 12,500 a year ago — but the jobs lost by Brexit will be not just the "back office" ones initially forecast, but "front office" staff who deal directly with clients, reports The Guardian.

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