(1) BBC, 1.8k jobs cut
- To integrate its TV, radio & internet news operations
(2) GMAC Financial Services, 3k jobs cut
- Abt 25% cut of its mortgage unit, Residential Capital (ResCap), due to "severe weakness in the housing market and mortgage industry".
- In 1H2007, already 2k jobs were cut
(2) Morgan Stanley, 300 jobs cut
- Hit by recent mkt turmoil, most are fr its institutional securities division in mortgages, fixed-income trading and other biz.
- Abt 2wks ago, it announced restructuring of its mortgage biz that would result in 600 jobs cut.
(3) Boston Scientific, 2.3k jobs cut
- To restructure or sale of biz units and to reduce operating expenses.
* BBC-Jobs , GMAC-Jobs , Reuters-Morgan Stanley , BostonSci-Jobs *
Thursday, October 18, 2007
Worldwide Jobs Cut
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1 comment:
Bank of America announced 3k jobs cut
due to poor results brought on by the unrest in global credit markets.
This will affect <2% of the company's staff. Most of them will be from its Global Corporate & Investment Banking unit.
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