Facing the axe
With financial belts tightening, businesses are starting to seek out ways to make cost savings - and redundancies are just one way to do this. Martin Friel discusses the difficulties that brokers may face when deciding to reduce staff numbers and explains that it is important they ensure the axe falls in the right place
Who could have predicted AIG and Royal Bank of Scotland running into serious difficulties? Two of the most respected and seemingly well-grounded financial institutions in the world came within a hair's breadth of going down, taking countless investors and companies with them. However, with government intervention, they seem to be stable once more - but the point is, if they can teeter on the brink as a result of the financial crisis, then no matter how secure and protected a firm thinks it is
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