Santander To Cut 3,000 Jobs
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Spain&#39;s Banco Santander Central Hispano is expected to announce today that it will cut up to 3,000 jobs at Abbey National if it succeeds with its agreed bid for the UK bank, the Financial Times reported.
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Santander Central Hispano is expected to announce that headcount at Abbey National will not drop by more than 4,500 in the three years after its takeover, a source familiar with the situation says.
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A German official said his country would lose about 3,500 jobs and that about 4,500 would be trimmed in France in a cost-cutting effort.
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Embattled insurance brokerage Marsh & McLennan Companies Inc. said Tuesday that it will lay off 3,000 employees, or about 5 percent of its work force, as it struggles to deal with the fallout from a bid-rigging probe by New York Attorney General Eliot Spitzer.
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Abbey National staff were today expected to discover how many jobs will go in the bankâs planned takeover by Spanish group Santander Central Hispano.
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Deutsche Bank plans to eliminate 300 jobs from its investment banking unit amid market volatility.
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Banco Santander will today tell Abbey National&#39;s union that about 2,500 jobs will go if the Spanish bank is successful in its takeover bid.
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Marsh & McLennan Cos. MMC.N, 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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Nortel plans to cut about 3,500 jobs, most of them affecting middle managers, in a move to save $450 million to $500 million per year.
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ABN Amro Holding NV, the largest Dutch bank, plans to cut 2,850 jobs, or about 3 percent of its workforce, to stem a decline in operating profit as revenue growth stalls.
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The company announced the firings on Thursday along with a restructuring plan that included layoffs of about 3,500 employees.
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Santander Central Hispano SA said Wednesday that net profit for the third quarter nearly doubled to 1.17 billion euros (&#36;1.49 billion), with much of the gain coming from the sale of its stake in the Royal Bank of Scotland.
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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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Around 3,000 jobs will be lost at Abbey National if the UK bankâs takeover by Spainâs Santander Central Hispano (SCH) goes ahead, it emerged today.
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Spain&#39;s SCH plans to cut around 3,000 jobs at takeover target Abbey National to meet its goal of reducing costs by 450 million euros (302 million pounds) at the bank within three years.
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Troubled subprime mortgage lender Countrywide Financial Corp. plans to slash as many as 12,000 jobs over the next three months, according to company statement released late Friday.
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NEW YORK -- Eastman Kodak Co. said Thursday it is cutting as many as 3,000 more jobs as it completes a historic, four-year transformation this fall into a digital-imaging company focused on consumer photography and commercial printing.