City jobs go in ABN Amro cuts
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ABN AMRO is to cut 2,850 jobs in its IT, investment banking and corporate banking divisions as part of a plan to cut a total of â¬770 million in costs from 2007.
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LONDON/AMSTERDAM  - The takeover battle for ABN AMRO  heated up on Monday with the Royal Bank of Scotland  consortium boosting the cash element of its 71.1 billion-euro ($98 billion) offer.
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ABN Amro, the Netherlands&#39; largest bank, is to cut 2,850 jobs as a result of falling profits. The cuts - amounting to 3% of the bank&#39;s workforce - will result in a one-off charge of 790m euros ($1.1bn).
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ABN Amro Holding NV, the largest Dutch bank, plans to cut 2,850 jobs, or about 3 percent of the total workforce, as earnings decline.
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Employers cut 4,000 jobs in August, the first time in four years that monthly hiring contracted, the government said on Friday in a report certain to boost pressure on Federal Reserve policy makers to cut interest rates.
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Business & money: Royal Bank of Scotland launches new bid for ABN Amro, in an attempt to wrest it away from rival bidder Barclays.
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The Netherlands&#39; biggest bank ABN AMRO says it is cutting more than 4,000 back office and information technology staff as it aims to bring its cost base in line with its competitors.
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ABN AMRO&#39;s  supervisory board  is getting more involved in the Dutch bank&#39;s takeover battle  after a consortium led by Royal Bank of Scotland   launched a bid, ABN said on Wednesday.
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Employers cut jobs for the first time in four years last month, the government reported yesterday, driving stock prices down in the United States and Europe and raising fears the slowdown in the housing and credit markets brought on by the crisis in subprime mortgages is spreading across the economy.
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Shares in Dutch investment bank ABN Amro surged on the Amsterdam stock exchange on Wednesday as investors reacted to a proposal to break up the group.
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Bank of America says it is to cut about 3,000 jobs as it restructures its loss-hit investment bank division.
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Bank of America Corp. BAC.N will cut  an additional 4,500 jobs from its ranks, increasing the number  of jobs lost since its FleetBoston Financial acquisition by 36  percent to 17,000.
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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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ABN Amro, the Netherlands' largest bank, is cutting 2,850 jobs as a result of falling profits.
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Electrical systems maker American   Power Conversion Corp. APCC.O said on Friday it will cut 4   percent of its global work force, or about 330 jobs, as part of   an ongoing cost-cutting bid.
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ABB Inc. has reversed a decision to close its transformer plant in Guelph, Ont., saving 300 jobs, the union representing the workers said today.
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American Express Co said it will cut 2,000 jobs, or 2.5 per cent of its work force, in a restructuring designed to save more than USD 75 million a year before taxes.