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Layoffs Watch '08: Merrill Lynch

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Merrill Lynch has big plans to layoff ten to fifteen percent of its investment banking staff over the next week or so, according to DealMaker. The cuts are said to affect employees low and high, and may be related to a big writedown MER’s got in the hopper. Any connection between the 300 pink slips and the pink tops stolen out of John Thain’s daughter’s dresser drawer over the weekend? You tell us.
Merrill Rumored to be Planning Layoffs, Facing Huge Writedown [HousingWire]