ING Group to cut 7,000 jobs
ING Group, the Dutch financial services company, said Monday that it would cut 7,000 jobs this year and that its chief executive would step down as it seeks government guarantees for toxic mortgage debt.
Industrial conglomerate Siemens AG said Tuesday it would cut 16,750 jobs, or 4.2 percent of its global work force, to streamline operations and cut nearly $2 billion in costs in the face of a slowing economy.