EMCC European Monitoring Centre on Change

Merrill Lynch

Company/Organisation:
Merrill Lynch

Geographic Location

Country: World

Company

Sector: Financial services
Financial and insurance activities
66 - Activities auxiliary to financial services and insurance activities
Number Employed: 63100

Employment Effects

Announcement Date: 18-04-2008
Planned Job Reductions min: 4000
Planned Job Reductions max: 4000
Type of Restructuring: Internal restructuring
Direct Dismissals: 4000

Additional Information

Merrill Lynch, one of the world´s leading wealth management companies, has announced its intention to cut 4,000 jobs worldwide. The decision is attributed to a net loss from continuing operations for the first quarter of 2008 of USD 1.97 billion, compared to net earnings of USD 2.16 billion for the year-ago quarter. At present, the company employs 63,100 people.

Sources:

18-04-2008Hospodárske noviny

Sources Links:

http://news.bbc.co.uk/1/hi/business/7352402.stm