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A man who said he was vice president of the credit department at MF Global left the offices in New York City yesterday. (David Karp/Associated Press) |
MF Global fires 1,000 workers
MF Global Holdings Ltd., the failed New York investment firm, yesterday fired more than 1,000 employees as it grappled with bankruptcy and the loss of $600 million in customer funds. MF Global’s collapse, the result of bad bets made on European debt, has stung the investment world. Its largest stockholder was Fidelity Investments, the Boston mutual fund giant, which held 8.4 percent of the firm’s stock, or 13.9 million shares, according to MF Global’s Oct. 31 bankruptcy filing.
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