More Job Cuts Seen at European Investment Banks
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Job cuts at European investment banks are set to accelerate, suggesting the sector is not too optimistic on revenues and is feeling the pressure to boost returns by clamping down on costs.
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Morgan Stanley  will slash more than 1,000 jobs in the coming week, trimming 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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Music company EMI, home to Robbie Williams and Coldplay, will cut up to 2,000 jobs as part of a restructuring being planned by its private equity boss Guy Hands, Sunday newspapers reported.
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British music giant EMI Group PLC is preparing to cut up to 2,000 jobs, or about one-third of its work force, as part of a contentious restructuring plan being prepared by the group's new owner, Terra Firma Capital Partners, reports said Sunday.
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Germany's leading bank, Deutsche Bank, is to tell its employees next week of plans to cut some 2,000 jobs to increase profitability, according to a report.
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U.S. and European banks including  Citigroup Inc  and HSBC Holdings PLC  are  considering selling off parts of their businesses as they  prepare for tough times ahead, the Wall Street Journal  reported.
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Citigroup announced another big investment by foreign investors after taking a $18.1 billion write-down and a $9.83 billion fourth-quarter loss, while its C.E.O. said it would cut 4,200 jobs.
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Music company EMI, home to Robbie  Williams and Coldplay, will cut up to 2,000 jobs as part of a  restructuring being planned by its private equity boss Guy  Hands, Sunday newspapers reported.
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Bank of America says it is to cut about 3,000 jobs as it restructures its loss-hit investment bank division.
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LONDON (CBS.MW) - Commerzbank AG, Germany&#39;s third largest bank by market value, unveiled plans on Tuesday to cut jobs and scale back its unprofitable investment banking division.
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The bank was hurt by a spike in consumer credit costs and the poor performance of an investment banking unit.
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Higher interest rates in Europe  and growing uncertainty over the cost of borrowing in the  United States could slow down parts of the global mergers and  acquisitions boom, experts say.
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ABN Amro, the Netherlands&#39; largest bank, is to cut 2,850 jobs as a result of falling profits. The cuts - amounting to 3% of the bank&#39;s workforce - will result in a one-off charge of 790m euros ($1.1bn).
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Deutsche Bank says it will cut 3,280 jobs outside Germany and reports a sharp rise in profits.
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Citigroup is expected to announce on Tuesday 4,000 additional job cuts, a steep cut in its stock dividend, and another boost from foreign investors.
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AMSTERDAM: The Netherlandsâ biggest bank ABN AMRO announced it was cutting more than 4,000 back office and information technology staff on Thursday as it aims to bring its cost base in line with its competitors.
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ABN Amro, the Netherlands' largest bank, is cutting 2,850 jobs as a result of falling profits.