Marsh May Have to Cut Jobs as Earnings Decline, Investors Say
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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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Nortel Networks Corp. investors predicted Tuesday the telecom equipment giant will again slash jobs when it reports long-overdue results this week, and shrugged off news of another criminal probe into its high-profile accounting woes.
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NEW YORK - The general counsel for broker Marsh &amp; McLennan Cos. will step down next week as the embattled firm seeks to clean house and reform its business practices, the Wall Street Journal reported on Friday.
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U.S. stock investors looking to recoup from the worst week in almost three months will have to keep one eye out for signs of weakness in the tidal wave of earnings due next week and the other on the threat surging oil prices pose to the economy and profits.
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Marsh &amp; McLennan is set to announce thousands of job cuts at its troubled insurance brokerage arm. The move follows the decision to scrap incentive commissions
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Marsh & McLennan Cos. , 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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Investors reacted to a disappointing fourth-quarter earnings report that raised worries about the software makerâs ability to cope with tougher competition and a slowing U.S. economy.
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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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Friday&#39;s news of a buckling job market  sent stock investors running for the exits, and next week  promises to be no less stressful as investors grapple with the  increasing possibility of an economic recession.
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Friday's news of a buckling U.S. job market sent stock investors running for the exits, and this week promises to be no less stressful as investors grapple with the increasing possibility of an economic recession.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) Chief Executive Michael Cherkasky on Tuesday said 90 percent of the 3,000 employees the company plans to lay off will be notified on Wednesday.
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Wall Street was set to open slightly lower on Wednesday as investors eye the damage to corporate earnings from stubbornly high oil prices with scorecards from key companies rolling in.
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Wall Street was hit hard by a disappointing jobs report.
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Friday&#39;s news of a buckling U.S. job  market sent stock investors running for the exits, and this  week promises to be no less stressful as investors grapple with  the increasing possibility of an economic recession.
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A fall in ad revenue leads reporters and editors at the Wall Street Journal worry that their jobs may be in jeopardy if Dow Jones stays independent.
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U.S. stocks fell on Thursday as investors locked in profits ahead of Friday's jobs data that could show further weakening in the economy and possibly send equity markets lower.
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NEW YORK - Disappointing earnings from Morgan Stanley and a new spike in oil prices sent stocks lower in early trading Wednesday as investors' worries over third-quarter earnings increased.    In the first hour of trading, the Dow Jones industrial average fell 87.31, or 0.8 percent, to 10,157.62...