Davy's cuts workforce by 15%

Davy are obviously feeling the pain:
rte.ie/business/2008/0714/davy.html

Approx. 15% of jobs to go, plus a pay cut of 5% (on earnings over 50k) for those who stay.

There’s nothing like an MBO to ensure a ruthless focus on costs. Especially when you have credit unions to compensate.

Isn’t it a pity we couldn’t see something similar in the public sector?

I would have thought all that short selling was generating increased trading volumes :smiley:

Or maybe the Davys got caught holding onto a few too many irish financial stocks themselves.

Unbelievable

examiner.ie/irishexaminer/pa … qqqx=1.asp

I’m moving Davy’s up to a BUY recommendation…

You took the word right out of mouth. This guy/gal clearly did not get the memo about the layoffs/pay cuts!