Merrill To Cut 10 to 15 Percent of Investment Banking Divisi

by Derek Loosvelt | March 25, 2008

Today, Dealbreaker reported that Merrill Lynch will soon announce plans to cut between 10 to 15 percent of its investment banking division (that is, about 300 of its 2,100 bankers).

"The layoffs are expected to be wide-ranging, taking aim at various industry and product categories at all levels of Merrill’s investment banking division," according to Dealbreaker. "The cuts will likely be the heaviest among its senior officers, namely, directors and MDs, according to one person familiar with the plan."

Sources also tell Dealmaker that Merrill will soon be announcing another huge write-down, in the $8 billion range

Filed Under: Finance


34,000 Cuts and Growing "A great day for Ohio"

Vault welcomes your views. Please stay on topic and be respectful of other readers. Review our User Guidelines.

blog comments powered by Disqus

Featured Companies

Career Update Newsletter

Tips and tools to help you manage your ideal career.

SALARY FINDER

SALARY FINDER

Health Service Administrator

  • $0
  • 25
  • 50
  • 75
  • 100
  • 100+
Yearly Salary Range (US$ Thousands)