A Fool and His Money

Merrill Lynch is to cut 4000 jobs worldwide as it has reported a loss of billions of pounds. £1bn profit has been lost compared to the same period in 2007. The amount of people who are set to be made redundant make up 10% of the total staff. Merrill Lynch will be saving $800m ar a year by making this change.

Poor risk management is to be blamed for thousands of job losses.

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