Lehman to cut 1,300 mortgage jobs
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Investment bank Lehman Brothers Holdings Inc  on Thursday said it would stop U.S. wholesale mortgage lending because of a continued slump in credit and housing markets, a move that will cut 1,300 jobs and result in a $40 million charge.
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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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A paper mill is to be built creating 300 permanent jobs and employing 1,000 workers in its construction.
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Bank of America plans to cut about 150 city jobs as it trims its overall staff by 4,500, people familiar with the situation said. The cuts at the bank, which already said it would slash 12,500
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About 1,000 jobs will go at Morgan Stanley as the US bank cuts back its home lending business.
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LOS ANGELES -- Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry.
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Motorola said yesterday it would cut 1,000 jobs, as the company continues to refocus on its core mobile phone business. It said some positions being cut were related to the Freescale Semiconductor division that Motorola is in the process of spinning off.
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Countrywide Financial Corp, the largest U.S. mortgage lender, said on Friday it plans to cut 10,000 to 12,000 jobs to cope with weak housing demand, rising foreclosures and tightening credit markets.
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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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Bank of America Corp. said yesterday it will bring 300 more jobs to Boston as part of its wealth management unit. The decision comes after the bank agreed
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BOSTON A published report reveals that Bank of America plans to lay off hundreds of tellers and other branch employees at Fleet banks today.
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Rental-car operator Hertz Global Holding Inc.  said on Wednesday it plans to cut 1,350 jobs resulting in annual savings of about $125 million as it seeks to improve competitiveness.
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US retailer Macy's said Wednesday it was cutting 2,300 jobs as it vies to overhaul its operations and cut costs amid a slowing economy.
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IndyMac Bancorp Inc , one of the largest independent U.S. mortgage lenders, plans to cut 1,000 jobs and halve its dividend, and may report its first quarterly loss in more than eight years, as defaults climb and loan volumes decline.
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Retailer Home Depot Inc.  on  Wednesday said it would cut 300 jobs at its Atlanta  headquarters, or about 5.6 percent of the location's total  staff, as it shifts resources to invest in store improvements.
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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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CHARLOTTE - Bank of America Corp. , the second-biggest US bank, plans to stop making loans to mortgage brokers by year-end, a move that will cut 700 jobs, the bank said yesterday.