A large charge accounting for job cuts drove Merrill Lynch into the red for the fourth quarter of 2001. The reported net loss of $1.26 billion ($1.51 a share) was down from a net profit of $877 million (93 cents a share) a year earlier. It includes a charge of $1.2 billion to account for 9,000 announced job cuts. Merrill also reported that client assets fell 13 percent to $1.5 trillion from a year ago. Earnings at its investment-managers segment fell to $48 million, a 61 percent drop, on net revenue that was $489 million, down 22 percent.  

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