Deutsche Bank to axe almost 2,000 jobs in Germany to cut costs
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Deutsche Bank, Germany's biggest bank, said it planned to eliminate 1,920 jobs in Germany in the next two years, or seven percent of its German workforce, to cut costs.
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Bank of America Corp., which operates 25 branches in San Antonio, plans to cut about 2.5 percent, or 4,500 jobs, from its work force.
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Swiss Re  will cut 2,000 jobs  by 2007, or 17.5 percent of its global workforce, through  layoffs and attrition in the wake of its &#36;7.4-billion takeover  of U.S.-based GE Insurance Solutions, the company said on  Tuesday.
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Bank of America Corp., which operates 25 branches in the Houston area, plans to cut about 2.5 percent, or 4,500 jobs, from its work force.
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Germany, the largest eurozone economy, lowered its 2008 growth forecast Thursday to 2.0 percent from 2.4 percent and its economy minister warned that fallout from a banking crisis could do more damage still.
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German chemicals and pharmaceutcials giant Bayer said Wednesday that it planned to axe 950 jobs in Berlin following its acquisition of drug-maker Schering, which is based in the German capital.
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General Motors today announced that it is to axe up to 12,000 jobs in Europe over the next two years in a bid to reduce its annual costs by â¬500m (Â£340m).
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Bombardier Aerospace said on Thursday it will cut about 2,000 jobs at its Montreal-area and Belfast operations and the severance costs linked to the layoffs will affect current year results.
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Ford Motor Credit, the financial arm of  Ford Motor Co.  said on Thursday it would cut 2,000 jobs  -- almost a quarter of its staff in North America -- and close  branch offices in order to cut costs.
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ABN Amro Holding NV, the largest Dutch bank, plans to cut 2,850 jobs, or about 3 percent of the total workforce, as earnings decline.
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Credit card company Capital One Financial plans to eliminate 2,000 jobs, or about 6 percent of its workforce, as part of a $700 million restructuring, the company said yesterday.
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InfoWorld - Mobile phone maker Nokia will lay off 2,300 employees at a German plant and move production to lower-cost European sites, the company announced Tuesday.
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The announcement came almost two months after its parent company, Hertz Global Holdings, said it would eliminate 200 jobs to increase competitiveness.
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Boston Scientific Corp  said on Wednesday it would cut about 2,300 jobs, or about 9 percent of its workforce, and restructure or sell several business units as part of its efforts to reduce operating expenses.
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Bank of America Corp  said it will lay off about 2,500 workers in Illinois and 1,500 in Michigan over the next two years in connection with its $21 billion purchase of LaSalle Bank Corp from Dutch bank ABN AMRO Holding NV .
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Volkswagen AG is threatening to eliminate 30,000 jobs ahead of next week&#39;s wage talks with unions as Europe&#39;s biggest carmaker seeks cost cuts similar to agreements reached by other German companies, including DaimlerChrysler AG.
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T-Mobile, Germany's leading mobile phone operator, said it was planning to axe up to 2,200 jobs as part of a  one-billion-euro (1.3-billion-dollar) cost-cutting drive to boost profitability in face of current difficult market conditions.