Furthermore, redundancies on a relatively large scale would hit Merrill hard, as its previous year’s earnings where proportionally higher.
A predicted loss of $1.72 billion was confirmed to be too low a judgment as Merrill Lynch released figures this week that show a far higher miscalculation. As predicted by “Pollia Ventures” this has now resulted in 3-4000 redundancies within the company. As the company stock fell as much as 50% in the previous twelve months trading its no wonder their will be some difficult times ahead and more cuts are certainly not to be ruled out.
“Pollia Ventures “feel for the troubled state of financial institution Merrill, but take solace in the fact that they were able to see signs of the forthcoming problems and protect their own members in an ever problematic marketplace.
