This would mean that the firm has shed almost 25% of its staff over the last two years.
Investment bankers were hoping that there would have been an upturn in global markets by now, but a sustainable recovery still looks to be some way off. Wall Street analysts expect significant headcount reductions at Citigroup, CSFB, Goldman and Morgan Stanley before the end of the year.
Merrills To Shed 2,000 Jobs
The Guardian reports that Merrill Lynch is set to wield the axe again and that 2,000 jobs worldwide are likely to be cut in an effort to reduce costs further.
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