• Most Popular
  • Most Shared

MBIA cuts 48 positions, to hire up to 30

NEW YORK
Thu Mar 6, 2008 3:53pm EST

Stocks

   

NEW YORK (Reuters) - MBIA Inc (MBI.N) the world's largest bond insurer, said on Thursday it was cutting 48 positions, as it retools its structured finance insurance business.

Stocks  |  Bonds  |  IPOs

As the company cuts positions, it is also hiring -- MBIA plans to hire 15 to 20 people for strategic roles and fill another 10 open positions.

The positions being eliminated will all be in MBIA's insurance operations and many of the employees will be moved into the asset management business.

(Reporting by Dan Wilchins; Editing by Andre Grenon)
Stocks
Bonds
IPOs


More from Reuters

Photo

Obama blames "systemic failures" in U.S. security

KANEOHE, Hawaii (Reuters) - President Barack Obama on Tuesday blamed a combination of "human and systemic failures" for allowing the botched Christmas Day attack aboard a Detroit-bound U.S. airliner, in his first big test on homeland security. | Video

» More Top News
Leaves gather in front of an empty and boarded-up house in Youngstown, Ohio November 21, 2009. REUTERS/Brian Snyder

Castles built on sand

Rust-belt American cities like Youngstown, Ohio were battered by the downturn. Now they're ready to move on, but it won’t be easy. The first in a three-part report.  Full Article 

Route to Recovery
REUTERS/James Saft
JAMES SAFT:

Welcome to the "Teenies"

Shrinking financial sector? Paltry investment returns? Welcome to the the next decade. Don't worry, there's some good news, too.  Commentary 

COMMENTARY