On Thursday, the world’s largest brokerage announced it would be cutting jobs. Merrill Lynch is coming off of three quarters of losses and plans to cut 3,000 jobs. Additionally, the nation’s largest student loan company, Sallie Mae, announced it had eliminated 1000 jobs during the last six months. In a report released on Wednesday, the company said it was still in the "preliminary phase of assessing all potential restructuring activities." The percentage of loans listed under forebearance at Sallie Mae rose to 16.4 percent at the end of March.