MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, January 10, 2002 Merrill to Cut 9,000 Merrill Lynch is taking a $1.7 billion charge as it plans to eliminate up to 9,000 positions. That amount includes $500 million in office space costs related to the World Trade Center. The cuts come along with speculation that new president Stanley O'Neal is gussying up the firm for a possible sale. O'Neal said that the cuts mark a change in focus from winning market share to building profitability. Share in Merrill Lynch have appreciated more than 50 percent since O'Neal started his housecleaning last Fall. Printed from: MFWire.com/story.asp?s=1578 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |