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JP Morgan Cut 3000 jobs, Freeze Salaries of Employees
JPMorgan Chase, the largest U.S. bank, plans to fire about 10 percent of its investment banking staff, or about 3,000 people, as the global economy slides into reces sion. Geoff Boisi, co-chief executive of JPMorgan Chase’s investment banking division, delivered the news to his staff by leaving them a detailed recorded voicemail message.The job cuts, [...]
Citigroup Cuts Banking Jobs, Layoff 50,000 Employees
New York City-based bank unveils massive layoff plan — the latest step by the embattled firm to slim down in response to the economic slowdown.Citigroup Inc revealed plans to cut 52,000 jobs by early next year in Chief Executive Vikram Pandit’s most dramatic move yet to restore profitability and bolster a sagging share price.The new [...]
Do ICICI Bank Really Bankrupt News ?
The stories are going on that ICICI Bank may go Bankrupt. No one knows the sources of these stories, but there have been serious losses reported by ICICI Bank .
Total reported losses of around 4 billion Rupees loss by Indian Banks collectively, 75% of those losses have been taken by ICICI Bank i.e. 3 billion [...]
