Bank merger means layoffs: Bankers Trust, Deutsche Bank to shed jobs

Article Abstract:

The Asia-Pacific region is predicted to be the least affected by the merger of Bankers Trust Corp and Deutsche Bank AG. Deutsche had earlier said that the merger will eliminate 5,500 of about 95,900 jobs, but the Asian operations will not be as badly affected as other regions due to a 'high degree of complementarity.' The bank had also estimated that half of the job losses will be in New York while the rest will be in its London, England, offices. Executives of the banks said the merged operations posted a record profit in 1998 and 1st qtr 1999 and achieved a return on equity of more than 25 in 1998.

United States, Commercial Banks, Commercial Banking, Germany, Asia, Mergers, acquisitions and divestments, Employment, Deutsche Bank AG, Pacific Area, Bankers Trust Corp.

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Development aid for poor entrepreneurs

Article Abstract:

The Asian Development Bank (ADB) must sponsor enterprise zones to spur economic redevelopment in Asia's poor urban areas. Enterprise zones are urban centers where regulations and tax rates have been relaxed to stimulate business redevelopment. ADB can choose an urban area where population growth and reduced budgets have lead to a decline in social services. The ADB must adopt the enterprise zone theory to suit different tax and fiscal structures in Asian countries.

Economic aspects, Economic policy, Enterprise zones, Asian Development Bank

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South Korean banks don't need layoffs

Article Abstract:

The South Korean government plans to consolidate five banks, but the mergers do not have to end in employee-feared layoffs. Because Korean banks are fairly efficient, revenue gains after a merger would make up for the costs of keeping staff members, and the government should strive to save bank workers' jobs.

South Korea, Personnel administration, Editorial, Human resource management

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