2008-04-16 — minyanville.com
'The Wall Street Journal reports Merrill will take an additional $6 to $8 billion in writedowns on mortgage-related securities and lay off 10% to 15% of its workforce. This brings the firm's total writedowns to $30 billion, having reduced its subprime exposure to $7.5 billion, down from $40.9 billion in June. The announcement is expected during tomorrow's first quarter earnings release.'
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