Friday 25 April 2014
 
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job cuts

JPMorgan Chase to cut 5,000 jobs

US banking giant JPMorgan Chase said it would eliminate 5,000 jobs from its global workforce this year. JPMorgan forecast its total headcount in 2014 at 260,000, down from 265,000 in 2013 and 280,000 in 2011, according to a presen

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RBS announces massive job cuts

Royal Bank of Scotland is to shrink its investment banking and international operations as part of a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources said yesterday. The part-nationalised bank

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Baclays cuts 400 jobs in corporate banking

Barclays is cutting 400 jobs from its corporate banking division, adding to the similar number of people axed by its investment bank this week as Chief Executive Antony Jenkins wields a cost-cutting knife. The bank cut 3,700 jobs

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Gulf Air ‘puts job cut plans on hold’

Gulf Air, the national carrier of Bahrain, is not planning any further redundancies this year, according to trade unionists. The airline refused to confirm it had put its redundancy scheme on hold, but the Gulf Air Trade Union (GA

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Siemens CEO plans job cuts, office closures

Germany's Siemens may outline job cuts and office closures to stop profits sliding as customers put off ordering engineering equipment because of Europe's economic crisis. Chief Executive Peter Loescher's strategy of b

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BlackBerry maker to cut 2,000 jobs

BlackBerry maker Research In Motion (RIM) is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported yesterday. The Canadian newspaper,

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Abu Dhabi TNI plans big job cuts

Abu Dhabi-based investment firm, The National Investor (TNI), has shed more than half of its workforce and is planning more job cuts in a bid to reduce costs in response to tough financial markets, said sources. Like a number of rival Midd

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SocGen to cut 700 jobs in US, Asia

French bank Societe Generale is to cut 700 jobs at its American and Asian operations as it pulls back on U.S. dollar lending to cut debt and strengthen its balance sheet, two trade-union sources said. The latest sign of retrenchment at Fre

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HSBC lays off ME bankers; energy head leaves

HSBC Holdings laid off several investment bankers in the Middle East earlier this month, including the head of its regional energy group, as part of a wider round of global jobs cuts, two sources said on Tuesday. Darren Davis, HSBC's h

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RBS to cut jobs as profit plunges 63pc

Royal Bank of Scotland is to further shrink its investment bank arm and cut more jobs after the euro zone debt crisis sliced into third-quarter profit, hampering its turnaround. RBS, 83 per cent owned by the UK government after it was bail

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