Lehman to Cut 1,300 Mortgage Jobs
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In a move that will shed 1,300 jobs, Lehman Brothers said it would stop wholesale mortgage lending amid a continued slump in credit and housing.
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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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Bank of America Corp , the second-largest U.S. bank, on Wednesday said it plans to eliminate 3,000 jobs, and that the head of its corporate and investment banking unit will depart after a dismal quarter led to a 32 percent drop in quarterly profit.
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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.
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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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Motorola Inc., the world's No. 2 maker  of cell phones, on Tuesday said it would cut 1,000 jobs in  three of its units as it puts its effort behind wireless  communications in an increasingly competitive market.
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The $58-million merger between JP Morgan Chase and Bank One Corp. is costing the region more jobs. Chase is eliminating 400 positions at its card services division, which is located at its
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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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Citigroup plans to eliminate about 1,000 jobs at its corporate and investment bank, according to a person close to the company, the latest signal that the company is placing a renewed emphasis on cutting costs and bolstering shareholder returns.
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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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Troubled German regional bank WestLB plans to cut 1,700 jobs, or around 30 percent of its workforce, as part of a plan to save it from ruin, the German magazine Focus said Friday.
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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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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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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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Lehman Brothers Holdings Inc said on Thursday it will fire 850 workers in its mortgage operations, just two weeks after the fourth largest investment bank said it was closing its subprime mortgage lending business.
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Motorola, the world&#39;s second largest mobile phone maker, is cutting 1,000 jobs although its core cellphone business will be unaffected.
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Motorola Inc. plans to eliminate 1,000 jobs in the spinoff of its semiconductor unit, the company said Tuesday in a filing with government regulators.