M&F Bank announces layoffs, posts loss

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By Steven Arons and Nicholas Comfort Deutsche Bank AG unveiled a radical overhaul that will see the lender exit its equities business, post a 2.8 billion-euro ($3.1 billion) second-quarter loss and cut the workforce by a fifth to reverse a slide in profitability. Chief Executive Officer Christian Sewing will shelve the dividend this year and next and take restructuring charges of 7.4 billion.

Nearly 200 people in Bank of America’s mortgage servicing department are about to lose their jobs because of it. News of the layoffs was discovered in a State of Texas Worker Adjustment and Retraining notification act notice. The WARN Notice shows that Bank of America will layoff 187 employees from its Plano, Texas offices on Nov. 7.

Bank of America – cut 540 loss mitigation jobs in Charlotte. ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug. 17. Renasant Corporation and First M&F Corporation – merged Republic Federal Bank – shut by FDIC

Their announced plans for layoffs are reason enough for the regulatory bodies to kill the merger on anti-trust grounds. They have clearly announced that this is an anti-competitive move. Had something similar happened to some of the bank mergers that occurred a decade ago, we would not be talking about "too-big-to-fail" today.

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may 24/strong day for both gold and silver/gold up $12.40 to $1305.00 and silver is up 27 cents to $16.66/ecb announces a slowing of demand/trump scraps north korea summit scheduled for june 12/deutsche bank announces dismal earnings/and confirms layoffs and stock plummets/sharyl attkisson highlights 8 facts which prove the fbi/d.o.j’s counter intelligence attack on trump and campaign/more.

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Shares of Deutsche Bank declined more than 4% Monday as a round of global layoffs at the firm began. The bank recently announced a major restructuring that will involve winding down its equities.

Boeing announced Wednesday. with The Washington Post on Monday. On Tuesday, however, The Wall Street Journal cited an internal Boeing memo that said that any agreements reached with Chinese.

Bank of America is considered one of the country’s healthier banks, and its decision to slash so many jobs illustrates the breadth of the layoffs hitting the United States. The nation lost more than half a million jobs in November alone, and economists expect many more to come.

Speculation over the RBA launching QE continues to grow, even before it’s actually cut rates Bulls are back even as the fed edges closer to lifting US rates. The S&P gained. Alphabet, Google’s parent company, rose over 2 per cent after Reuters reported the company was planning to launch.