Financial Services Industry
Industry: Email Alert RSS FeedMerrill plays down reports of more job cuts in Europe.
Financial News, July, 2002
Byline: Piers Townsend
Merrill Lynch has moved quickly to dampen speculation that it is to lay off a large number of its European investment banking professionals.In response to reports in the financial press on Wednesday, the firm said in a statement: "We continue actively to manage our resources, including expenses and headcount, in line with the business environment. This means that while we may reduce headcount in some areas, we are selectively hiring in others." The reports came days after data from Thomson Financial showed that Merrill Lynch was ranked first in European announced mergers and acquisitions in the first half of the year.In common with other large firms, Merrill has cut several thousand jobs in response to the market downturn. It offered...
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