Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Manulife Hancock Job Cuts Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, March 25, 2004

Manulife Hancock Job Cuts

by: Caitlin  Pickall

The Boston Globe reports that Manulife Financial Corp. could cut hundreds of Boston jobs when it merges with John Hancock Financial Services Inc. Manulife's chief executive, Dominic D'Alessandro, told the Globe that short-term dismissals in Boston would be "in the low hundreds."

D’Alessandro said job reduction would come largely through attrition, but some critics charged him with understating planned cuts and overstating Manulife’s commitment to Boston.

Hancock’s board members will be retained. Also, Hancock’s chief executive officer, David D’Alessandro (no relation to Dominic) will become chief operating officer at the combined company. He’ll earn $5.1 million excluding options this year, as opposed to the $21.7 million he took home in 2002.

The combined companies would have approximately 5,200 Boston employees. A Manulife corporate spokesperson said the company wasn’t releasing additional information about job cuts at this point.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use