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Bank of America Rumor: Plans for major job cuts

There has been more speculation regarding more job losses and Bank of America, Europe’s biggest credit card provider, is considering plans for major job cuts in card services, according to one well sourced rumor.

800 compulsory redundancies at Northern Rock

The nationalises bank, Northern Rock are to dispose of 1,300 members of staff 800 of which will be given compulsory redundancy, this is to reduce costs and improve the banks profitability.
Northern Rocks executive chairman Ron Sandler has said that the staff have been kept well informed, they know that its necessary for us to downsize [...]