BlackRock, scheduled to complete its takeover of Barclay’s investment unit today, has said it will eliminate 89 jobs in San Francisco. This represents 1% of the combined workforce of 9000 employees. According to a report filed with the California Employment Development Department the cuts will be made by January 8. No word [...]
Continue reading...Friday, June 5, 2009
Los Angeles’ Capital Group, owner of asset manager America Funds, will cut 820 jobs, nearly 10% of its workforce. The layoffs are taking place this week and next week. The company employs about 9,000 people worldwide. America Funds and other asset managers have seen investors yank record amounts of money from mutual funds due to the financial [...]
Continue reading...Friday, May 1, 2009
Hartford, Connecticut’s Hartford Financial Services is shutting down most of its operations in the United Kingdom, Ireland and Germany. The firm has not announced any specific numbers. It has 380 employees in Europe. The European subsidiary, Hartford Life Limited, has more than 18,000 policies and £1.2 billion ($1.8 billion) of assets under management. Founbded in 1810, The Hartford [...]
Continue reading...Wednesday, January 14, 2009
Dutch financial-services group ING Groep NV will cut 750 jobs in the US, or about 8% of the firm’s American headcount. The broad-based cuts will be complete by the end of Q1. The ING Group employs about 11,000 workers domestically. ING posted its first quarterly net loss in November, hammered by the economic meltdown. As home foreclosures [...]
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Tuesday, December 1, 2009
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