The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
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
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: Hospodárske 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.
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