Merrill Lynch Plans Additional Staff Cuts
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NEW YORK — Merrill Lynch & Co. will cut about 3,000 jobs in 1990 that will include another round of layoffs at the nation’s largest brokerage, officials said Monday.
Merrill spokesman Fred Yager said reductions will be spread throughout the year and occur through layoffs, attrition and selling off businesses. The firm announced plans for across-the-board trims in November.
The cuts should reduce Merrill’s total work force to about 36,800 from 40,500 at the end of 1989 and a peak of 47,000 shortly before the October, 1987, stock market crash.
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