Under-fire Marsh cuts 3,000 jobs
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Marsh & McLennan, the US insurance broker being sued for alleged price fixing, is to cut 3,000 jobs as it faces an expected decline in its revenues.
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Marsh &amp; McLennan will start handing out 3,000 pink slips today - most at its Sixth Avenue headquarters. They&#39;re victims of a bid-rigging scandal that has punished profits
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NEW YORK -- Eastman Kodak Co. is cutting 3,000 more jobs this year as the picture-taking pioneer wraps up its wrenching transformation into a digital imaging company focused on consumer photography and commercial printing.
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Oracle will eliminate about 5,000 jobs following its $10.3 billion acquisition of PeopleSoft, the company said Friday.
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Goodyear Tire &amp; Rubber Co. (GT.N: Quote, Profile, Research) said on Friday it will cut 340 jobs in its engineered products and chemical units as part of its cost-reduction efforts, resulting in a third-quarter charge.
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The AA is cutting 1,300 jobs, 10% of its workforce, only three months after it was bought for Â£1.75bn by venture capital firms.
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Bank of America Corp. said yesterday it will slash 3,000 jobs from its workforce of nearly 200,000 and move its top Boston executive to New York to take over the company's troubled investment banking unit.
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Marsh &amp; McLennan, the parent company of Hub funds firm Putnam Investments, announced 3,000 job cuts yesterday as it battles a scandal and a collapse in earnings.
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Marsh &amp; McLennan Cos., the US insurance broker accused of rigging bids and taking ``payoffs,&#39;&#39; may cut jobs to help mitigate a drop in earnings, investors said.
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Struggling clothing retailer Wet Seal Inc. (WTSLA.O: Quote, Profile, Research) on Tuesday said it will close about 150 underperforming stores as part of a major restructuring plan and layoff about 2,000 employees.
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Nortel Networks Ltd. (NYSE/Toronto: NT - message board) today fleshed out its staff reduction plans by announcing that 3,250 posts will be cut, down from the expected 3,500 (see Nortel Cuts 3,500 Jobs ). North
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Marsh &amp; McLennan, the broker at the centre of America&#39;s insurance scandal, yesterday said it was cutting 3,000 jobs worldwide, including about 280 in the UK, as it reported a 94pc slump in third-quarter profits.
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British energy giant BP said Wednesday that it will cut more than 350 jobs at its North Sea operations in the face of lower output and soaring costs.
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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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Bank of America Corp., the third- biggest US bank, will cut 4,500 jobs in addition to the 12,500 positions it will eliminate as part of the purchase of FleetBoston Financial Corp.
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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 &amp; McLennan has been cut in half in the last three days following allegations that it had rigged bids to convince its customers to overpay for insurance policies that it brokered on their behalf.