Carlyle issues pink slips (1)
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George White (0)
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6 days, 22 hours
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Private equity firms are no strangers to layoffs when it comes to cutting costs, but those job cuts are usually restricted to the firm's portfolio companies. But as a measure of just how hard the credit crisis is hitting buyout shops, the Carlyle Group reportedly is cutting back and closing offices in Eastern Europe and Asia....
The latest layoff roundup: Citigroup, J.P. Morgan, Nomura, Fidelity, HSBC and more (1)
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Maria Woehr (0)
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1 week, 6 days
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There are more pink slips and layoff announcements amid the National Association of Business Economists report that the unemployment rate was likely to peak at 7.5% by the third quarter of 2009. Last month the unemployment rate rose to 6.5%. That's the highest it's been in 14 years. No doubt all of the layoffs in the financial industry are adding to that number....
GM blames everyone but itself (1)
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Lou Whiteman (0)
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2 weeks, 4 days
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As General Motors Corp. and its Detroit brethren scramble for government bailout cash, the companies and their advocates have spread the blame for their troubles widely. Foreign competition, uncompetitive union contracts, tight credit markets and falling employment are just some of the many reasons given for the automakers' troubles....
Amex to become a bank (1)
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Thomas Groppe (0)
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2 weeks, 6 days
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The credit crisis is forcing yet another financial institution to change its structure. The Federal Reserve Board announced late Monday that it has approved an application by credit card giant American Express Co. to become a bank holding company....
Circuit City buckles and files for Chapter 11 (1)
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Goldman Sachs may lay off up to 10% of work force (1)
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