Recent Posts Tagged With 'credit crisis'

• German Government Announces $670 Billion Bailout Package

  Posted on Monday November 17th, 2008 at 14:06 in europe, Economy, Germany, rescue, Market News, bailout, german government, credit crunch, credit crisis, finance minister, german finance ministry

  Germany announced Monday that it has assembled a bailout package worth over $670 billion to shore up the country’s ailing financial system as part of an integrated European financial rescue effort.The German finance ministry estimated the total fig...

• The current economic crisis will hurt the tech sector far more than the dot-com crash did in 2000

  Posted on Monday November 17th, 2008 at 12:36 in sun microsystems, economic crisis, credit crisis, economic decline, cisco sales, sun microsystems layoff

  Last week Sun Microsystems recently announced that it will layoff 15-18% if its workforce. The move is expected to save the company $700 million to $800 million. Intel announced its sales for the current quarter could drop 19 percent, and the week be...

• Circuit City to Close 155 Stores, Lay Off Thousands

  Posted on Monday November 17th, 2008 at 12:29 in technology, electronics, Computers, Economy, retail, layoffs, holiday shopping, credit crunch, credit crisis, layoff 2008, circuit city job cut, circuit city layoff

  Rumors are swirling across the ‘Net that Circuit City plans to shutter at least 155 stores, beginning the process as early as Monday morning (Nov. 3).According to various sources, the electronics giant is pulling out of at least a dozen major metro...

• Yahoo! to Cut 1,500 Jobs

  Posted on Monday November 17th, 2008 at 12:27 in internet, technology, yahoo, Economy, earnings, layoffs, yhoo, credit crunch, credit crisis, yahoo layoff, layoff 2008, yahoo job cut

  Yahoo! Inc. (YHOO: 10.80 -0.18%) announced today that it will hand out at least 1,500 pink slips to workers as it struggles to deal with a crumbling economy that ate away at its third-quarter profit.The layoffs outlined in the announcement represent...

• UK Nationalizes Royal Bank of Scotland (RBS)

  Posted on Monday November 17th, 2008 at 12:26 in London, Economy, nationalization, subprime, rbs, royal bank of scotland, hbos, credit crunch, credit crisis, bank run, bank takeover, nationalized bank

  The UK government has nationalized the Royal Bank of Scotland (RBS) late Sunday night, by injecting about $35 billion of taxpayer money into the failing bank.The Government is also expected to take over HBOS soon as well, as state ownership in the Br...

• Goldman Sachs Cuts 3,200 Jobs

  Posted on Monday November 17th, 2008 at 12:25 in Wall Street, investment banking, layoffs, job cuts, investment banks, market crash, credit crunch, credit crisis, layoff 2008, goldman job cut, goldman sachs layoff

  Goldman Sachs (GS: 64.50 -3.34%) announced this morning that it will be laying off about 10% of its work force as the downturn in the credit and lending markets continues.Goldman plans to hand out about 3,260 pink slips, which will reduce its work fo...

• Legg Mason Plans Layoffs

  Posted on Monday November 17th, 2008 at 12:24 in baltimore, Economy, investment banking, financial services, layoffs, investment banks, credit crunch, credit crisis, layoff 2008, legg mason layoff, legg mason job cut

  Legg Mason Inc. (LM: 15.77 +0.77%) announced yesterday that it will soon be cutting jobs.The Baltimore company has not yet provided specifics on positions and numbers yet, but is busy trying to come up with about $120 million in cost savings.A compan...

• Goldman Sachs Lays Off Thousands This Week

  Posted on Monday November 17th, 2008 at 12:23 in Economy, Wall Street, investment banking, layoffs, investment banks, credit crunch, credit crisis, layoff 2008, goldman job cut, goldman layoff

  Goldman Sachs Group (GS: 64.55 -3.27%) notified about 3,200 employees yesterday that they have been laid off, part of previously announced plans to cut about 10% of the firm’s work force amid crashing financial markets.Goldman has been letting peop...

• Citigroup Will Cut 50,000 Jobs

  Posted on Monday November 17th, 2008 at 12:19 in Economy, credit cards, layoffs, citibank, credit crisis, layoff 2008, citibank layoff, citibank job cut

  Citigroup (C: 9.48 -0.42%) announced today that it is planning to slash its workforce by more than 50,000 jobs in an effort to cut costs and ride out the credit crisis on Wall StreetIn an announcement and investor presentation (link to presentation b...