Abbey National facing big layoffs
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A Spanish bank seeking to buy Britain&#39;s Abbey National says it will dismiss about 3,000 workers to achieve costs savings, if the buyout is approved.
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The Spanish bank poised to take over Abbey National will walk away if the Â£8.2 billion deal is stalled by competition concerns, it was reported today.
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RSA has been shedding thousands of jobs as part of a major restructuring intended to refocus on general insurance. The firm has also sold its life business and other assets to strengthen its finances.
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Goldman Sachs Group Inc  and  Credit Suisse Group  on Friday said they will cut  about 2,000 job worldwide as a credit crisis puts a damper on  fixed-income trading and corporate dealmaking.
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Santander Central Hispano is expected to announce that headcount at Abbey National will not drop by more than 4,500 in the three years after its takeover, a source familiar with the situation says.
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The chairman of Abbey National, Lord Burns, almost lost control of his group&#39;s shareholders yesterday during a heated meeting that eventually approved the bank&#39;s Â£8.
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Taking 'bank holiday' too literally Abbey's business banking systems have taken an extra long weekend and been completely unavailable since yesterday, leaving customers unable to fulfil critical payments ahead of the spring bank holiday.â¦
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The company's development group has been hit with layoffs.
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Francisco G mez Rold n, chief financial officer of Spain's largest bank, will take the helm at Abbey, replacing Luqman Arnold.
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Bank of America Corp  said it will lay off about 2,500 workers in Illinois and 1,500 in Michigan over the next two years in connection with its $21 billion purchase of LaSalle Bank Corp from Dutch bank ABN AMRO Holding NV .
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Hundreds of branch employees at Fleet Bank, one of the largest banks in Philadelphia and now part of Bank of America, are being laid off Wednesday across the Northeast.
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Countrywide, the nationâs largest mortgage lenders, said Friday that it would lay off up to 20 percent of its workforce over the next three months.
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Oracle Corp.  will announce layoffs on Friday as a result of its recent acquisition of PeopleSoft, the company said on Friday.
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Spanish Bank Santander Central Hispano intends to cut about 3,000 jobs at Britain&#39;s Abbey National if its proposed acquisition of the British bank is completed.
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Executives urged to quit over risks that took lender to the brink of collapse.
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UNION officials have warned of the threat to up to 2000 Scottish jobs if Spanish bank Santander sells Abbey - s closed funds after it completes its 8.4 billion takeover of the British bank next month.
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A number of HR staff at investment bank ABN Amro are to lose their jobs as part of a cull of 2,850 employees at the group. About 1,100 jobs will go in investment banking, 1,200 will be lost in IT and 550 will go in HR, the company announced today.