Skip to Main Content
by Derek Loosvelt | March 25, 2008

Share

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

Share

Filed Under: Finance

Want to be found by top employers? Upload Your Resume

Join Gold to Unlock Company Reviews

Newsletter
Subscribe to the Vault
Newsletter

Be the first to read new articles and get updates from the Vault team.