Capital One Financial to Cut 750 Jobs
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Capital One Financial Corp., the holding company of Capital One Bank, plans to eliminate about 750 jobs as it shifts the majority of its production service operations to a U.S.-based supplier, the company reported Tuesday.
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Bank of America Corp. BAC.N on  Thursday said it would increase the number of jobs it will cut  by 36 percent to 17,000 after its acquisition of FleetBoston  Financial as it simplifies operations.
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Cardinal Health Inc., a medical products and services company, plans to cut 4,200 jobs, or about 7 percent of its work force, and close 25 offices as part of a three-year restructuring plan, the company said Monday.
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The banking giant said it was scaling back its investment banking operations and shedding an additional 650 jobs.
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DULLES, Va. -- Time Warner Inc.'s America Online division, the biggest US Internet service, said it cut 750 jobs, or about 4 percent of its workforce, amid subscriber losses.
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Company plans to cut up to 7000 jobs this year as it transitions to digital technologies.
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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 an $880 million writedown, because the business is no longer sustainable.
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Connecticut's attorney general, Richard Blumenthal, said yesterday that Bank of America Corp. told him it would cut 100 jobs in Connecticut but add about the same number, marking the first time the bank has given any state an account of how many employees would be affected by its merger with FleetBoston Financial Corp.
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Bank of America Corp  said on  Tuesday it would eliminate 650 corporate and investment banking  jobs and sell its equity prime brokerage business, as the  second-largest U.S. bank retrenches in the face of difficult  credit market conditions.
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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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The investment bank said BNC Mortgage will be combined with Aurora Loan Services into a single residential mortgage business, cutting 400 jobs.
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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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Hong Kong conglomerate Hutchison Whampoa said it will cut 750 jobs at its mobile telephone business in the city to maintain its competitiveness by trimming operating costs and generating savings.
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The company said it planned a major job shift to cut costs, saying the reorganization will affect 1,650 jobs, or nearly 12 percent of its work force.
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Bank of America said it will cut about 4,500 positions, or about 2.5 percent of its workforce, beginning this month. The layoffs will take place across the bank&#39;s geographic footprint and in all lines of business
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State Street Corp. said it will eliminate 425 jobs as a cost-cutting move after the financial firm yesterday reported a weak third quarter in which earnings fell 13 percent because of a sharp drop-off in lending and trading activities in securities markets.
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The mortgage lender IndyMac Bancorp said that it would cut its work force by 24 percent.