Merrill to cut 500 trading jobs: report

Nambe

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Mon Oct-20-08 09:05 PM
Original message

Merrill to cut 500 trading jobs: report

Source: NEW YORK (Reuters)

Merrill Lynch & Co Inc, which last month accepted a takeover offer from Bank of America Corp, is set to cut about 500 jobs in its trading divisions, Bloomberg News reported on Monday, citing unidentified sources.

The news agency said some workers may be notified as soon as this week, and the cuts will include sales staff as well as traders in the bank's fixed-income and equity divisions.

Merrill Lynch Chief Executive John Thain said in a television interview with the news service earlier in the day that the bank needs to cut thousands of jobs because he expects a global recession next year. ,,,

Read more: http://www.reuters.com/article/topNews/idUSTRE49J8BP20081020?feedType=RSS&feedName=topNews&rpc=22&sp=true

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Phred42

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Mon Oct-20-08 09:08 PM
Response to Original message

1. A job is a job - but ya know what? I don't give a rats ass about these gamblers

Edited on Mon Oct-20-08 09:08 PM by Phred42

phuck 'em

Get an honest job

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Double T

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Mon Oct-20-08 09:12 PM
Response to Original message

2. Wouldn't want the criminal corrupt corporate executives to have to give up their overbloated...........

executive compensation packages, would we? The scum at the top creates the disaster while the 'lowly' employees take the hit. I have had it with wall street welfare!!

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craiga86

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Mon Oct-20-08 09:16 PM
Response to Original message

3. Traders

It's not the traders who caused what has happened on wall-street. Atleast not the ones that will lose their jobs.

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