Gleacher&CO may eliminate up to about 160 jobs, investment bank, said on Wednesday due to exit from its fixed-income business.
The news is less than a month after Gleacher revealed its financial situation has deteriorated, consider to sell the company once again. The company said on Wednesday that it is doing at the beginning of the negotiations with the other party.
Company shares fell 3% in early trading in New York.
In march, Gleacher said in a regulatory filing in March, it continues to lose its senior management members, as well as major customers, due to the situation. Gleacher is now seeking may sell, or sell assets.
Gleacher agreed to abandon let housing mortgage business, but not for an amount in February, largely on their own sales. But in March, it revealed that, the sales meeting is dead.
Gleacher said on Wednesday that it is out of MBS prices and credit products business. The company says its plans did not include the other businesses, such as investment Banks.
Gleacher&Co. Inc. Company is expected to be held on May 23, the annual general meeting of shareholders.



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