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The global financial crisis reared its ugly head in Australia yesterday with reports that up to 1000 Macquarie Group employees were made redundant.
Employees in Macquarie’s investment banking arm Macquarie Capital were among the first to go, the daily reported.
Macquarie chief executive Nicholas Moore said the bank would not be announcing an official number of retrenchments with the process being “very much a business-by-business story”.
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