UPDATE 1-Marsh &amp; McLennan to cut 3,000 jobs as profit sinks
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , which has been at the center of a bid-rigging scandal rocking the insurance industry, on Tuesday said it will cut 3,000
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Marsh & McLennan Cos. , the insurance broker at the center of a bid-rigging scandal, on Tuesday said it will lay off 3,000 employees, or 5 percent of its work force.
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Putnam Investments will pay $40 million to settle yet another regulatory probe, while corporate parent Marsh &amp; McLennan Cos. yesterday said it would cut 3,000 jobs in the fallout from the price-fixing and bid-rigging scandal enveloping its insurance brokerage unit.
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Staggered by accusations that it cheated its customers, Marsh & McLennan will lay off 3,000 employees, or 5 percent of its work force.
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Alcatel-Lucent  on Friday said it would cut about 12,500 jobs over three years, more than previously announced, as it reported a fourth-quarter net loss and forecast a drop in first-quarter revenues.
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Marsh & McLennan Cos. MMC.N, the  insurance broker at the center of a bid-rigging probe, on  Tuesday said it will lay off 3,000 employees, or 5 percent of  its work force, and reported third-quarter profit tumbled 94  percent.
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NEW YORK -- Marsh &amp; McLennan Companies Inc. announced Friday that it was suspending its practice of using &quot;market services agreements&quot; with insurance carriers.
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Marsh &amp; McLennan  posted a bigger-than-expected drop in quarterly profit as it digested higher costs and hefty restructuring charges.
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NEW YORK -- Marsh &amp; McLennan Cos. Inc., the world's biggest insurance brokerage, said yesterday it will cut 750 jobs, consolidate some locations, and revamp its information technology structure to cut costs.
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BOSTON (CBS.MW) -- The other shoe dropped Tuesday for about 3,000 workers at embattled Marsh &amp; McLennan. Free! Sign up here to receive our Internet Daily e-Newsletter!
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Deutsche Bank AG posted a sharp drop in fourth-quarter profits Thursday citing restructuring charges, and announced another 3,280 job cuts.
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State Street Corp. said it will eliminate 425 jobs as a cost-cutting move after the financial firm yesterday reported a weak third quarter in which earnings fell 13 percent because of a sharp drop-off in lending and trading activities in securities markets.
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Putnam Investments said Monday it will cut about 100 jobs, an announcement that came a week after parent company Marsh &amp; McLennan Cos.
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Printer maker Lexmark International Inc  on Tuesday said third-quarter profit fell sharply, and it would take restructuring steps that will affect about 1,650 jobs.
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Morgan Stanley  is cutting about  1,000 jobs in the coming week, part of efforts to trim costs  ahead of what it expects will be a tougher business  environment, a person briefed on the moves said on Thursday.
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Coca-Cola Enterprises Inc. , the world's largest soft-drink distributor, will cut 3,500 jobs after posting its worst loss in at least 10 years on a $2.9 billion reduction in the value of its North American unit.
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Midland Co. on Thursday said third-quarter profits fell by almost half as the specialty insurer sustained heavy claims losses from the hurricanes that swept through the Southeast during the summer.