More Than 1,000 Employees Fired From MF Global

From wsj.com

The bankruptcy of MF Global has cost more than 1,000 people their jobs. The trustee overseeing the wind down of a piece of MF Global said the broker-dealer’s staff of 1,066 people were fired today. The MF Global employees will be paid their salaries through Nov. 15, the trustee said. The employee firings are “a necessary part of the court-ordered liquidation of MF Global Inc.,” the trustee said. The trustee said he is trying to “immediately vacate” and close MF Global offices in New York City and rent cheaper office space for trustee staff as they liquidate the MF Global broker-deal business.