Lehman to cut 1,300 mortgage jobs
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US investment bank Lehman Brothers says it will cut 1,300 jobs as its scales back its US home loan business.
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Lehman Brothers Holdings and the National City Corporation said yesterday that they would lay off more than 2,000 workers as the banks scale back their struggling mortgage businesses.
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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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H&R Block Inc , the largest U.S. tax preparer, said on Tuesday it will fire 575 workers at its Option One Mortgage Corp subprime lending unit, on top of 615 job losses announced on May 15.
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Lehman Brothers Holdings will cease wholesale mortgage lending in the United States, a move that includes 1,300 job cuts.
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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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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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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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Telecommunications equipment maker Motorola Inc.  said on Tuesday that it would cut 1,000 jobs and take charges of about &#36;50 million for severance benefits as it tries to increase productivity.
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HSBC Holdings Plc , Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking $945 million in charges and write-downs, because the business is no longer sustainable.
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Hershey co.  on Thursday said it  would cut about 1,500 jobs and reduce the number of production  lines it operates by more than a third as it tries to  streamline manufacturing to improve profits.
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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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Credit Suisse today announced that up to 300 jobs will be lost in an overhaul of its troubled investment banking business. The company said its investment arm - Credit Suisse First Boston (CSFB) - would be
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Merrill Lynch & Co Inc  said on Monday that its subprime lender, First Franklin Financial, would cut an unspecified number of jobs, in another setback to the brokerage's $1.3 billion acquisition.
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Credit Suisse Group announced plans to merge its Credit Suisse First Boston Securities unit with the rest of the company&#39;s operations and cut as many as 300 jobs.
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Sovereign Bancorp. said yesterday it will cut 800 jobs, 77 of them locally, from its workforce of almost 9,000 and close most of its wholesale mortgage operation in an effort to slash costs by $100 million annually.
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Morgan Stanley  will slash more than 1,000 jobs in the coming week, trimming costs ahead of what it expects will be a tougher business environment, a person briefed on the moves said on Thursday.