Merril Layoffs--> IB safe....hopefully
http://news.yahoo.com/s/nm/20071227/bs_nm/merrill…
Merrill Lynch & Co (MER.N) plans to announce about 1,600 layoffs after disclosing fourth-quarter write-downs, CNBC reported on Thursday. ADVERTISEMENT
The layoffs are likely to be in trading positions and related areas, and will not likely include the investment banking or private client groups, CNBC's Charlie Gasparino reported
Definitely not good news.
I remember Don Komansky and Stan O'Neal saying the same thing in February of 2001.
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