MF Global Workers Said to Learn of Firing From News Reports
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Some MF Global Inc. employees fired in New York and Chicago learned of their fate from news reports that the trustee liquidating the broker-dealer had decided to terminate all 1,066 of them, according to three people familiar with the matter.
Trustee James Giddens distributed a statement yesterday announcing the firings at the unit of bankrupt MF Global Holdings Ltd. It was reported by the news media before many employees were notified, said one person familiar with the release who asked not to be identified because they weren’t authorized to speak publicly about it. Two employees who declined to be named because they said it may damage their job prospects also said they heard of the firings through the media.