CIBC investment arm cutting almost 500 jobs

Article Abstract:

Canadian Imperial Bank of Commerce's World Markets division intends to displace 500 employees of its 9,000-person workforce across the globe. The job reduction scheme is expected to affect the division's operations in London, UK, Toronto, Ontario, as well as in Singapore. The unit, which specializes in providing investment banking services, has also expressed plans to implement a reorganization program by the fourth quarter of its fiscal 1998. The move reflects the efforts of the financial services firm to enhance its financial performance.

Comment:

Its World Markets division is set to displace 500 employees of its 9,000-person workforce across the globe

Labor force information, Ontario, Canadian Imperial Bank of Commerce, Article

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Goldman bonuses soar on record yearly profit

Article Abstract:

The Goldman Sachs Group Inc. is paying an average of $622,000 bonuses to its employees. The record $3.15-billion profits in the final quarter of 2006 are the main driving force behind the growth of bonus amount.

Personnel administration, Compensation and benefits, The Goldman Sachs Group Inc., Financial report

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Blackstone set to sell stake

Article Abstract:

The plan of Blackstone Group to sell 10 percent of its stake to raise $4 billion and its proposal to go for initial public offering is discussed.

Financial management, Management dynamics, Management, Finance, Going public (Securities), Initial public offerings, Company business management, Company public offering, Company financing, The Blackstone Group

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