Business roundup

first_imgThis week’s business roundupJobs go at US City firm Schroder Salomon Smith Barney, the US securities firm, is shedding a numberof staff from its European operation based in London. The group saidrationalisation will affect under 100 staff. SSSB is one of an increasing numberof City firms to cut jobs after the first-quarter downturn in stockmarkets. www.salomonsmithbarney.com3M posts cutbacks The American industrial group 3M is slashing around 500 UK jobs as part ofits strategy to cut 5,000 jobs worldwide. The company has 18 sites in the UK,including the head office in Bracknell, Berkshire. Jobs are likely to gothrough voluntary redundancies. The US conglomerate’s products range fromPost-It notes and Scotch tape to industrial adhesives and fibre-optic connectors.Paul Davies, 3M UK’s HR director said affected employees would receiveoutplacement and financial services support. www.3m.comMerger banks on cuts The future of thousands of jobs in Edinburgh hang in the balance after theBank of Scotland revealed that it was considering a £28bn merger with Halifax,Britain’s biggest mortgage lender. Unifi, the banking union, said that up to 10per cent of the combined 55,000-strong workforce could go. The Bank of Scotlandemploys around 4,000 people in Edinburgh, while Halifax has nearly 5,000 staff,based in Leeds and Halifax. Comments are closed. Previous Article Next Article Business roundupOn 1 May 2001 in Personnel Today Related posts:No related photos.last_img read more