Results tagged “jobs”

LEHMAN Brothers staff are “upbeat” after a deal which could save up to 2,000 jobs in Canary Wharf.

Japanese investment bank Nomura snapped up the company’s investment banking and equities divisions on Tuesday for a nominal fee believed to be $2.

AROUND 700 jobs at the European branch of Lehman Brothers last night as banks tabled their final offers for the firm's assets.

INTERNATIONAL news agency Thomson Reuters is set to shave 1,500 staff from its worldwide workforce.

The newly-merged financial data and news provider will reportedly cut around three per cent of its 50,000 employees in the next year, including 650 content and technology jobs and 140 of the company’s 2,600 journalists.

Union members are considering strike action after news broke of the move this week.

CITIGROUP may be about to axe up to 2,000 jobs in Canary Wharf as it tries to off-set its credit crunch losses.

The banking giant has announced worldwide cuts of 9,000 jobs after revealing a first quarter loss of £2.7billion ($5.11bn) last week. Commentators predict a number will come from the bank’s UK headquarters in Canada Square.

Citigroup is the biggest bank in the US, but only Swiss firm UBS has been forced to announce more write-downs and credit losses since America’s sub-prime mortgage market collapsed last year. Worldwide job losses of 4,200 were scheduled by the bank in mid-January after it was forced to write off £11.3billion in sub-prime investments and losses in the fourth quarter last year.

GORDON Brown had reassuring words for Canary Wharf workers when he arrived at the financial centre.

The Prime Minister was at the East Wintergarden to promote Ken Livingstone’s mayoral election campaign.
His visit coincided with jobs uncertainty at Bear Stearns and the ongoing threat of global recession. But the Prime Minister told The Wharf that maintaining high employment in the area is at the top of his agenda.