Job cuts

Thu, 20 Nov 2008 | Updated: Wed, 3 Dec 2008 16:51 GMT

The financial sector has been rocked by Fidelity International announcing several hundred job cuts.

The investment fund manager is to axe one in seven of its staff following falling sales and rising withdrawals from unit trusts.

Elsewhere, The Financial Times reports that investment group Babcock and Brown is to slash 850 jobs as it puts it rail and aircraft divisions up for sale, while The Guardian reports that 20,000 jobs will go at chemical maker BASF as it shuts down 80 plants worldwide.

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