Goldman, Credit Suisse to cut about 2,000 jobs
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Goldman Sachs Group  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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Credit Suisse  said it marked down the value of asset-backed investments by $2.85 billion, wiping $1 billion from its net income and sending its shares plummeting.
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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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ABN Amro, the Netherlands' largest bank, is cutting 2,850 jobs as a result of falling profits.
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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 employs about 700 people in the Nashville area, plans to cut about 2.5 percent, or 4,500 jobs, from its work force nationally.
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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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Swiss drugmaker Novartis said Thursday it plans to cut 2,500 jobs in a restructuring programme aimed at generating yearly cost savings of 1.6 billion dollars (1.1 billion euros).
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Novartis AG will cut 2,500 jobs worldwide by 2010 in an attempt to save $1.6 billion, the drug maker said Thursday.
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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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ABN AMRO is to cut 2,850 jobs in its IT, investment banking and corporate banking divisions as part of a plan to cut a total of â¬770 million in costs from 2007.
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The record label EMI is planning to cut as many as 2,000 jobs as part of a restructuring plan.
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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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BERN, Switzerland - Telecommunications company Swisscom AG reported Wednesday that third-quarter net income fell 10 percent and said it would cut about 390 jobs, or 2.5 percent of its fulltime work force, next year.
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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   branch offices in order to cut costs.
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The Swiss banking group Credit Suisse said Wednesday it was shedding 150 jobs due to the impact of the recent subprime lending crisis in the United States.
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Credit Suisse suspended a number of traders in connection with a $2.85 billion overvaluation of assets.