Goldman Said Trying To Hush-Up Further Layoffs
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As the firm bids to get expenses back in line, Goldman is also said to no longer be serving food to employees for internal events, and is believed to be cutting back on expenses for its summer Graduate / intern hiring programs.
The Wall Street Journal reports that if you work for UBS Investment Bank in Asia-Pac, you'll probably be unaffected by the latest round of job cuts. The newspaper quotes Rory Tapner, the chairman of the unit's Asia-Pac operation, who has confirmed that 'only a small amount' of the 2,600 staff scheduled to go in the next round of layoffs will be from the region.
The Observer reports that up to 2,500 jobs are likely to go as the merger between Reuters and Thomson Financial beds down. The enlarged information giant currently employs around 50,000 staff. Those on the hit-list are thought to include journalists, IT, salesmen and middle managers.
On a more positive front, Bloomberg reports that Deutsche Bank is to add another 185 sales, trading and investment banking jobs in the Middle East within the next year, as the German bank seeks to take advantage of opportunities in the region. Reuters reported last week that Citi is moving Alberto Verme, its co-head of investment banking, to Dubai for the same reason.
Finally, The Independent reports that investment banks are also looking to beef up their operations in sub-Saharan Africa (like Ghana, Nigeria, Zambia), as economies there develop following the discovery of gas or oil.
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