Bank of America announced that 2000 investment bankers, commercial bankers, and non-US wealth managers will be getting the ax. Those jobs aren't coming back in that if they ever do the game will have changed too much for the old guard to return.
At one time, those displaced from these lucrative positions could consider going to law school and getting back on track to making the big bucks. Now that path isn't as open. First they would have to get into a top school. Then they would have to get summer internships at prestigious firms. They they would have to get an offer of a job from a brandname. Then they would have to hold onto that job - in a downsizing industry.
Likely they will have to recover from job loss the old fashioned way: sweat and search for something, anything they can do to pay their bills.