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Merrill Lynch plans to lay off 1,600: report: Financial News - Yahoo! Finance
Merrill Lynch plans to lay off 1,600: report
Thursday December 27, 12:21 pm ET NEW YORK (Reuters) - Merrill Lynch & Co (NYSE:MER - News) plans to announce about 1,600 layoffs after disclosing fourth-quarter write-downs, CNBC reported on Thursday. The layoffs are likely to be in trading positions and related areas, and will not likely include the investment banking or private client groups, CNBC's Charlie Gasparino reported.
Merrill Lynch had about 64,000 employees as of the end of September, so 1,600 layoffs would represent less than 3 percent of its work force.
A spokeswoman for Merrill Lynch was not immediately available for comment.
Merrill Lynch plans to lay off 1,600: report
Thursday December 27, 12:21 pm ET NEW YORK (Reuters) - Merrill Lynch & Co (NYSE:MER - News) plans to announce about 1,600 layoffs after disclosing fourth-quarter write-downs, CNBC reported on Thursday. The layoffs are likely to be in trading positions and related areas, and will not likely include the investment banking or private client groups, CNBC's Charlie Gasparino reported.
Merrill Lynch had about 64,000 employees as of the end of September, so 1,600 layoffs would represent less than 3 percent of its work force.
A spokeswoman for Merrill Lynch was not immediately available for comment.
