The bank declined to comment but a source familiar with the situation said 80 staff in the Europe, Middle East and Africa fixed income, commodities and currencies team have been told their jobs are at risk.
LONDON (Reuters) - Merrill Lynch <MER.N> has begun informing staff on its London fixed income, commodities and currency trading desks they may lose their jobs, as it begins implementing a plan to cut 4,000 jobs globally, recruitment industry sources said on Wednesday.
The bank declined to comment but a source familiar with the situation said 80 staff in the Europe, Middle East and Africa fixed income, commodities and currencies team have been told their jobs are at risk.
Merrill Lynch announced last week it planned to cut 4,000 jobs from year-end 2007 levels after it recorded more than $6.5 billion in write-downs and losses on subprime mortgages and other risky assets in the first quarter.
One of those who has received this notification is Christian Exshaw, London-based global head of FX sales at the bank, one recruitment source told Reuters.
!ADVERTISEMENT!(Reporting by Simon Falush; Editing by Richard Hubbard)
