Deutsche Bank to cut 2,000 management posts - report
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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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Deutsche Bank, Germany's biggest bank, said it planned to slash 3,280 additional jobs, or five percent of its workforce, even as its net profit soared 87 percent last year in its best annual performance in four years.
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The record label EMI is planning to cut as many as 2,000 jobs worldwide as part of a restructuring plan.
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BERLIN Facing a struggle to lower costs and lift its profit, Volkswagen said Friday that it would cut investment in its auto operations over the next two years and reshuffle its management board.
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Bank of America Corp. said yesterday it will slash 3,000 jobs from its workforce of nearly 200,000 and move its top Boston executive to New York to take over the company's troubled investment banking unit.
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Swiss Re is to cut 2,000 jobs at its Insurance Solutions unit, bought from GE last year, by the end of 2007.
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BERLIN - German automaker Volkswagen AG said Friday it will cut investment in auto operations by 6 percent over the next two years and reshuffle its management board as part of an overall reorganization process meant to trim costs.
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The new owners of EMI Group said Tuesday that they plan to cut up to 2,000 jobs in a restructuring of the recorded music division
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The British Broadcasting Corp. will cut about 2,900 jobs &#151; more than a tenth of its work force &#151; in a drive to reduce costs, the company's director-general told staff on Tuesday.
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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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Deutsche Telekom is changing its   management structure after poor quarterly results revealed that   Europe's biggest telecoms group by sales was no longer growing   in its German home market.
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Charlotte-based Bank of America Corp. will slash 4,500 positions from its work force, or about 2.5% of its payroll. The company expects to incur charges of $150 million over three quarters, beginning in the third quarter, from severance payments.
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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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Credit Suisse on Tuesday announced new write-downs of $2.8 billion that cut $1 billion from its profit, in a stunning reminder of the difficulty banks face in current market conditions.
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Deutsche Bank shuffled the ranks in its executive suite on Tuesday, putting more power into the hands of two prominent investment bankers based in London, but also naming
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DALLAS - Electronic Data Systems Corp. could cut 15,000 to 20,000 jobs - up to one-sixth of its work force - over about two years to help reduce costs by about $3 billion, chief executive Michael H...
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FRANKFURT : Deutsche Bank announced plans to reshuffle its management in order to meet its profit target for next year. Germany&#39;s leading bank, which is often accused of neglecting its domestic business in