Goldman, Credit Suisse to cut about 2,000 jobs
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Goldman Sachs Group Inc  and Credit Suisse Group  on Friday said they will cut about 2,000 job worldwide as a credit crisis puts a damper on fixed-income trading and corporate dealmaking.
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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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U.S. investment bank Goldman Sachs plans to sack about 5 percent of its global workforce in coming months after its annual staff evaluation, a company spokesman said on Friday.
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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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Switzerland's Novartis AG will slash 2.5 percent of its global workforce, aiming for annual savings of $1.6 billion in 2010 and becoming the latest major drugmaker to undertake a severe restructuring.
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Credit Suisse First Boston, the securities arm of Switzerland&#39;s second-biggest bank, plans to cut costs by combining some units and eliminating jobs, people familiar with the matter said.
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New York (Dow Jones) -- American Express Co. said Friday it will cut 2,000 jobs, or 2.5 percent of its work force, in a restructuring designed to save more than $75 million a year before taxes.
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Ford Motor Credit, the financial arm of   Ford Motor Co. F.N on Thursday said it would cut 2,000 jobs   -- almost a quarter of its staff in North America -- and close   59 U.S. branch offices over the next year in order to cut   costs.
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Nokia Siemens Networks, the Finnish-German telecom networks manufacturer, said Friday it would cut 2,290 jobs in Germany as part of a restructuring plan.
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The company said it would eliminate 275 jobs and slash direct mortgage lending to preserve cash after it was forced to cancel a $101.2 million rights offering.
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American Express Co said it will cut 2,000 jobs, or 2.5 per cent of its work force, in a restructuring designed to save more than USD 75 million a year before taxes.
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Swiss drugs firm Novartis says it is cutting about 2,500 global jobs in a bid to cut costs.
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ZURICH -- Credit Suisse Group , Switzerland's second-largest bank, said yesterday it will combine its US-based Credit Suisse First Boston investment unit and its retail and private banking business within two years.
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US retailer Macy's said Wednesday it was cutting 2,300 jobs as it vies to overhaul its operations and cut costs amid a slowing economy.
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Ford Motor Credit, the financial arm of   Ford Motor Co. F.N 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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Bank of Montreal  said on Wednesday it will cut about 1,000 jobs and take a C$135 million ($115 million) charge in the first quarter as it tries to rein in costs to help meet its 2007 financial targets, a move that took analysts by surprise.
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Dutch Bank ABN Amro NV said Thursday it will cut 2,850 jobs in dozens of countries in an effort to save euro770 million (around US$1 billion) annually from 2007.