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Straits Times : At Least 20 Merrill Staff Here Let Go

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By g8crasher,
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At Least 20 Merrill Staff Here Let Go

Wed, Oct 22, 2008

The Straits Times

By Gabriel Chen

AT LEAST 20 Singapore employees of investment bank Merrill Lynch have been laid off in the past two days.

The layoffs were met with anger, tears and some confusion among the ranks of 700 or so employees at its Marina Bay offices.

About 10 members of the equity team were axed on Monday - that is about 25 per cent of the unit's workforce. Sources say that around the same number from the fixed income desk and several from the energy trading team were told to leave yesterday.

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