Results tagged “redundancies”

Bank of America plans to reduce its workforce by more than ten per cent over the next three years.

The corporation - which employs around 1,700 people at its European HQ in Canada Square - cited the merger with Merrill Lynch and "the weak economic environment" as reasons for the move.

Morgan Stanley looks set to be the next Wharf bank to make major job cuts as the economic gloom sinks lower over London.

Up to 1,100 jobs are expected to be culled at the American bank's Canary Wharf headquarters, despite recent moves taken to avoid meltdown along the lines of Lehman Brothers. A decision is expected to be made in the next few days.

People hit by job losses around Canary Wharf are being targeted by the organisers of a self-help show.

Scott Solder and Mark Palmer will be hosting the event for those recently made redundant or those fearing the worst.

ADMINISTRATORS sorting through the wreckage of Lehman Brothers have laid off 750 employees with immediate effect.

Sources from within the stricken bank's Wharf headquarters report that representatives from PricewaterhouseCoopers informed staff this afternoon that their security clearance was revoked and they were to leave by 5pm. The cuts will mainly hit the fixed income arm, with other losses coming in the personal investment management team.