Barclays unit EquiFirst to cut subprime jobs
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EquiFirst Corp., a subprime mortgage unit of British bank Barclays Plc , on Tuesday said it will cut an unspecified of number of jobs to cope with the U.S. housing slump.
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First Horizon National Corp , the largest bank in Tennessee, said on Wednesday that it plans to eliminate at least 1,500 jobs by the middle of next year as it slashes its mortgage sales force and closes branches.
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HSBC Holdings Plc's  U.S. subprime unit scheduled a management conference call with its staff on Friday amid concern about layoffs and even a winding down of operations, two employees at the unit said.
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Morgan Stanley  on Wednesday  said it will eliminate 1,000 jobs as it scales back its U.S.  residential mortgage operations and closes its British  residential mortgage lending business, Advantage Home Loans.
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Business & money: Lenders move swiftly to cut home loan rates after the Bank of England cut the price of borrowing
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Standard Chartered, the British-based emerging markets bank, said it will lay off 200 employees from its consumer banking operations in Hong Kong or five percent of its total workforce in the territory.
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Banking giant HSBC is to close part of its US sub-prime mortgage business, cutting 750 jobs in the process.
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Merrill Lynch & Co. Inc.'s  $1.3 billion bet on subprime lending hit a sour note on Monday, when the world's largest brokerage confirmed job cuts at its First Franklin Financial Corp. unit.
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HSBC Holdings Plc&#39;s  U.S.  subprime unit scheduled a management conference call with its  staff on Friday amid concern about layoffs and even a winding  down of operations, two employees at the unit said.
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Financial companies slashed 52,500 jobs from July to December 2007, revealing how badly the subprime debacle has hurt these employers, but such companies based in New York City hired 1,900 people during that period, a new report said on Wednesday.
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The Bank of America Corporation said yesterday that it would cut an additional 4,500 jobs from its ranks, beginning this month, as it simplifies operations.
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Bank of America said Thursday it will layoff 4,500 employees as part of the companyâs ongoing integration of FleetBoston Financial.
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BOSTON -- Bank of America, which was sharply criticized after it cut jobs at former Fleet branches here, said Friday it plans to move an additional 300 jobs from its Wealth &amp; Investment Management businesses to Boston.
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CHARLOTTE, NC - Bank of America said Thursday it will cut about 4,500 jobs beginning this month as a result of its merger with FleetBoston Financial Corp.
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The Co-op is set to make 1,000 staff redundant from its financial services arm, a report says.
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UBS plans to shrink its investment bank arm after huge losses linked to the US sub-prime loans crisis.
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The banking giant said it was scaling back its investment banking operations and shedding an additional 650 jobs.