LayoffBlog.com

March 29, 2009

Citi to lay off 65 office cleaners, says report

Struggling financial services firm Citigroup would lay off even its office cleaners, with about 65 of them are expected to leave the
firm in the next few weeks, media report says.

“Citigroup can no longer afford to keep on the people who clean their offices, apparently,” the New York magazine said in its website.

Quoting Service Employees International Union spokesperson Kwame Patterson, the report said “we got notice about two weeks ago that 65 workers will be laid off within the coming weeks.”

Source: The Economic Times

December 2, 2008

HSBC, Credit Suisse to cut 1,150 jobs

Press Trust of India / UK, London: “Amid the ongoing economic crisis, the banking sector continues to be hit by mass layoffs with financial service major Credit Suisse and HSBC announcing additional 1,150 job cuts, a media report says.

According to the Financial Times, Credit Suisse will be trimming its workforce by 10 per cent leading to job loss for 650 employees, while HSBC said it was slashing 500 jobs.
Credit Suisse has been impacted by the loan writedowns, which has led to two quarters of losses for Switzerland’s second-largest bank this year, the report said.
A majority of the jobs at Credit Suisse would be cut in the investment banking and the support functions segment.”

“Earlier, HSBC said that it would cut 500 jobs in Asia as part of a shake-up of its global banking and markets division.

Besides, Citigroup had also announced it was shedding 52,000 staff worldwide, while Royal Bank of Scotland plans to cut about 3,000 jobs in its investment banking division.”

November 20, 2008

Bank of New York Mellon To Cut 1800 Jobs

According to CNN Money: ” The Bank of New York Mellon Corp. (BK) will cut 1,800 jobs, or about 4.2% of its worldwide work force.

Several banks have announced huge layoffs, including Citigroup Inc. (C), which plans to slash some 50,000 jobs; Goldman Sachs Group Inc. (GS), which is cutting 10% of its 32,500 global work force; and Deutsche Bank AG (DB), which plans to cut 900 jobs.”

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