Report: Merrill to wind down subprime unit
The firm will close down most of First Franklin Financial, its subprime-mortgage lending unit business, according to CNBC.
Merrill Lynch & Co. will close down most of First Franklin Financial Corp., its subprime-mortgage lending unit business, according to CNBC.
The move, which could lead to 400 to 500 job cuts, could start as early as next week, the television report said.
"We don't comment on market rumors," Merri
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