February 11, 2009

RBS announces up to 2,300 UK job losses

As former chiefs of Royal Bank of Scotland (RBS) made public apologies before the Treasury Select Committee yesterday, the group announced that it could cut up to 2,300 jobs in the UK.

The bank, which will shortly be majority state-owned, was brought to the brink of collapse last year under the leadership of its chief executive, Sir Fred Goodwin, and chairman, Sir Tom McKillop.

Source: Banking Times

January 30, 2009

Dexia faces $3 billion loss, plans 900 job cuts

Filed under: banking,finance,worldwide — 7macaw @ 7:32 am
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French-Belgian bank Dexia (BE: DEXB) on Friday said it lost around 2.3 billion euros ($3 billion) in the fourth-quarter and plans to cut 900 jobs in 2009 as part of a major reorganization.

Source: MarketWatch

December 15, 2008

Northern Trust to cut about 450 jobs

Filed under: banking,Investment,US — DF @ 11:34 am
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According to Reuters: “Northern Trust Corp will cut about 450 jobs, or 3.7 percent of its work force, the U.S. trust bank and asset manager said on Monday, joining its rivals in shrinking staff due to tough market and economic conditions.”

December 1, 2008

JPMorgan Chase to cut 9,200 WaMu jobs

According to CNN: “JPMorgan Chase said Monday it plans to lay off 9,200 employees at Washington Mutual, the failed savings and loan that the New York City-based banking giant bought in September.

Once the largest savings and loan in the country, Seattle-based WaMu collapsed due to bad bets on mortgages, resulting in the largest bank failure in U.S. history.”

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