Bad news for bankers Monday morning. More layoffs rumors and reports are circulating in the media. The latest reports include Principal Financial Group Inc. (NYSE:PFG), Citizens Bank and Canadian Imperial Bank of Commerce (NYSE:CM).
- Principal Financial laid off 75 employees in April, according to Forbes.
- Rumors are building that Royal Bank of Scotland Group plc
(NYSE:RBS) might sell Citizens Bank after it posted a quarterly loss of about
$1.29 billion. RBS has been going through some intensive restructuring. The bank is cutting 1,250 employees from Citizens Bank. The jobs
cuts are mostly in back-office operations, according to TribLive.
- CIBC announced more than 100 layoffs this month, according to Canada.com.
- Canaccord Capital Inc.is laying off 75 underperforming brokers, according to The Wall Street Journal.
It's rough out there, but there are firms hiring. Evolution Group plc just picked up 45 equities bankers from Dresdner Kleinwort Ltd., according to
Bloomberg. Standard Chartered plc
(NYSE:SCBFF) is supposedly hiring 100 private bankers in the next year, according to
AsiaOne News.
For a roundup of all the announced layoffs to date, check out The Deal's
Pink Slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff or hiring rumors you are hearing.
- Maria Woehr
(Follow me on twitter or send me tips: @newsgirlmw)
Also see:
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Finance Layoffs: UBS and MassMutual
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Finance Layoffs: AIG, Nat City and J.P. Morgan
Finance Layoffs: Citizens, J.P. Morgan and more
Finance Layoffs: RBS, BofA and HSBC
Finance Layoffs: Law firm pink slips
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Finance Layoffs: Stanford Financial, BofA and more
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Pink slips on Wall Street
Finance Layoffs: Barclays, Sun Capital, Wells Fargo and more
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Finance Layoffs: BlackRock, BOA, Blackstone and more
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Bank Layoffs: Credit Suisse, State Street, Carlyle and more
Merrill Grinch: Layoffs and other bad tidings before Christmas
Bank layoffs: J.P. Morgan, Goldman Sachs, Standard Chartered and more
Layoff roundup: WaMu, Barclays and BoNY
The latest layoff roundup: Citigroup, J.P. Morgan, Nomura, Fidelity, HSBC and more
More bank layoffs announced
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