Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Financial Services
Activities Auxiliary To Financial Services And Insurance Activities
Activities Auxiliary To Financial Services And Insurance Activities
66 - Activities auxiliary to financial services and insurance activities

4,000 jobs
Number of planned job losses
Job loss
Announcement Date
18 April 2008
Employment effect (start)
Foreseen end date

Description

Merrill Lynch, one of the world┬┤s leading wealth management companies, has announced its intention to cut 4,000 jobs worldwide. The decision is attributed to a net loss from continuing operations for the first quarter of 2008 of USD 1.97 billion, compared to net earnings of USD 2.16 billion for the year-ago quarter. At present, the company employs 63,100 people.


Sources

  • 18 April 2008: Hospod├írske noviny

Citation

Eurofound (2008), Merrill Lynch, Internal restructuring in World, factsheet number 66518, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66518.