FACTBOX: U.S. financial companies cut jobs

(Reuters) - U.S. banks and financial service companies with banking operations are cutting tens of thousands of jobs.

Some have said they are reducing staffing to lower their costs. Others are doing so because interest rate changes have made it more difficult to profit from lending.

Still others are reacting to tightening credit conditions, especially for mortgage lending operations.

Challenger, Gray & Christmas Inc, the consulting firm, said in August the U.S. financial industry had announced 87,962 job cuts this year, 75 percent more than in all of 2006. It said 35,830, or 41 percent, relate to housing market problems.

The following are some companies that have set job cuts this year or are otherwise reducing staffing.

MORGAN STANLEY (MS.N)

Morgan Stanley said on Oct 2 it will restructure its residential mortgage business and cut about 600 employees.

CREDIT SUISSE (CSGN.VX)

Credit Suisse on Sept 26 cut 150 jobs in its mortgage-backed securities business.

H&R BLOCK INC (HRB.N)

H&R Block, a leading tax preparer, on Sept 11 set plans to cut 575 jobs in its Option One Mortgage Corp unit, on top of 615 cuts announced in May.

ACCREDITED HOME LENDERS HOLDING CO LEND.O

Accredited Home Lenders, a subprime lender, said it will cut 1,600 jobs.

BEAR STEARNS COS BSC.N

Bear Stearns, a Wall Street investment bank said it will cut 240 subprime lending jobs.

CAPITAL ONE FINANCIAL CORP (COF.N)