National

Yahoo! Inc.: Search engine and information portal Yahoo! Inc. will eliminate 1,000 jobs as part of a reorganization focused on a return to profitability. The company reported that profits fell 23 percent in its fourth quarter.

Morgan Stanley: Investment banking giant Morgan Stanley will cut approximately 2 percent of its workforce in response to the slowing economy. Most positions to be cut will come from the firm's brokerage unit.

LeapFrog Enterprises, Inc.: LeapFrog Enterprises, a maker of interactive toys that teach children basic skills, will cut 85 jobs soon. The staff reductions are part of a plan to return the company to profitability.

Rolls-Royce plc: Aircraft engine maker Rolls-Royce will reduce its workforce by nearly 6 percent in order to address rising materials costs and a weak U.S. dollar. Managerial, professional, and clerical positions worldwide, including in the U.S., will be eliminated.

Bank of America Corporation: In response to the global credit crunch, Bank of America, the second-largest bank in the United States, will cut 650 jobs in its investment and trading units and sell a business that processes trades for hedge funds. The job cuts are in addition to those announced last fall.

Citigroup Inc.: After reporting a record fourth-quarter loss of $9.83 billion, Citigroup, the nation's largest bank, is considering ways to cut expenses. Among the plans is a reduction in staff. The bank may eliminate 4,200 jobs or more.

Lehman Brothers Holdings Inc.: Lehman Brothers, the nation's fourth-largest investment bank, has announced it will cease wholesale mortgage lending in the United States because of the housing slump and cut 1,300 jobs. Lehman previously eliminated about 2,500 jobs from its mortgage business.

EMI Group Plc: Record label EMI, which has a catalog of musicians that include Norah Jones, Coldplay, and the Rolling Stones, will eliminate as many as 2,000 jobs, or about one-third of its workforce. The job cuts are part of an aggressive restructuring plan by Terra Firma Capital Partners, a private equity firm that acquired EMI last year.

Avon Products, Inc.: Cosmetics seller Avon will eliminate 2,400 jobs as part of a restructuring plan announced in November 2005 aimed at saving $430 million annually. The job cuts will result from sales and distribution changes.

The McGraw-Hill Companies, Inc.: Publishing giant McGraw-Hill, which owns the Standard & Poor's credit-rating service, has seen demand for the service drop significantly amid the mortgage crisis and credit crunch. As a result, McGraw-Hill will reduce its overall workforce by about 3 percent; half of the jobs to be eliminated are in the education unit.

Applied Materials, Inc.: Semiconductor maker Applied Materials will reduce its workforce by about 7 percent in order to save $150 million annually. The job cuts will be achieved through layoffs and attrition.

Sprint Nextel Corporation: Wireless network operator Sprint Nextel will eliminate 4,000 jobs and close 125 retail stores in response to an eroding customer base. The job cuts and store closings are the first moves by Sprint's new Chief Executive, who was hired last month.