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  • Britain's Lloyds bank to cut 9,000 jobs Tuesday, 28 Oct 2014 | 5:32 AM ET

    LONDON— Britain's Lloyds Banking Group said Tuesday it will eliminate 9,000 jobs over the next three years and shut some 200 branches in a bid to improve efficiency. Its executives had pledged three years ago to keep its number of branches at a consistent level despite the cuts, but Chief Executive Antonio Horta-Osorio said Tuesday that strategy has now...

  • Amgen beats 3Q estimates while shrinking workforce Monday, 27 Oct 2014 | 4:30 PM ET

    WASHINGTON— Amgen said Monday that its earnings fell in the third quarter on charges from an ongoing restructuring effort, but the biotech drugmaker's adjusted results still surpassed Wall Street expectations. Amgen earned $1.24 billion, or $1.61 per share, down from $1.37 billion, or $1.79 per share, in the prior-year period. The company's results were...

  • Sears refutes store-closing report Thursday, 23 Oct 2014 | 6:34 PM ET

    NEW YORK— Sears Holdings Corp. discredited a report Thursday that says it will be shuttering 116 Sears and Kmart stores, resulting in the layoffs of more than 6,000 workers. Broken down, closures include 55 Kmart stores, 30 Sears stores and 31 Sears Auto Center locations, according Seeking Alpha, citing liquidation sale notices. In an email sent to The Associated...

  • Kimberly-Clark to cut up to 1,300 jobs Tuesday, 21 Oct 2014 | 9:59 AM ET

    DALLAS— Kimberly-Clark plans to eliminate up to 1,300 jobs as part of restructuring efforts aimed at reducing costs and making its business more efficient. Kimberly-Clark Corp. said Tuesday that it anticipates restructuring costs between $130 million and $160 million, after taxes. Kimberly-Clark also cut its 2014 adjusted profit forecast to account for...

  • GlobalFoundries: No layoffs in IBM chip units Monday, 20 Oct 2014 | 2:17 PM ET

    ALBANY, N.Y.— GlobalFoundries' chief executive said Monday the chip manufacturer plans no shutdowns or layoffs at the IBM semiconductor factories in New York's Hudson Valley and Vermont that it is acquiring. CEO Sanjay Jha told reporters on a conference call that GlobalFoundries will welcome about 5,000 IBM employees, including "800 of the best technologists...

  • Western New York yogurt plant laying off 32 Friday, 17 Oct 2014 | 10:54 AM ET

    BATAVIA, N.Y.— An upstate New York yogurt company says it's laying off more than 30 workers, an announcement made just as yogurt became the state's official snack. Local media report that Bogota, Colombia- based Alpina Foods said Wednesday it will lay off 32 employees at its plant in the town of Batavia, between Rochester and Buffalo. The company says it remains...

  • SAN FRANCISCO, Oct 16- Struggling U.S. chipmaker Advanced Micro Devices Inc said on Thursday it was cutting 7 percent of its workforce and it gave a lower-than-expected revenue forecast for the current quarter, sending its shares lower. The company's third major round of job cuts since 2011 comes a week after AMD said Chief Executive Officer Rory Read had been...

  • Office Depot to cut 1,100 jobs in Europe Thursday, 16 Oct 2014 | 9:40 AM ET

    Oct 16- Office Depot Inc said it would eliminate about 1,100 jobs in Europe as part of a restructuring plan in the region. The company had 64,000 employees worldwide as of Jan. 25. The office supply retailer said it expects the restructuring to reduce annual costs by about $90 million by the end of 2016..

  • DETROIT, Oct 15- Ordinary Detroit residents sounded off with passion and anger on Wednesday as they gave a federal judge their views on the city's plan to exit its historic municipal bankruptcy. Bankruptcy Judge Steven Rhodes began a hearing on Sept. 2 to determine if Detroit's plan to restructure $18 billion in debt is fair and feasible. Some residents of...

  • CHICAGO, Oct 14- CME Group Inc plans to cut 5 percent of its global workforce, or about 150 jobs, to reduce costs with most cuts hitting its technology operations, the world's largest futures exchange operator said on Tuesday. CME declined to detail how much money the staff reductions will save the company, which owns the Chicago Board of Trade and New York...

  • CHICAGO, Oct 14- CME Group Inc plans to eliminate 5 percent of its global workforce, or about 150 jobs, with most cuts hitting its Chicago headquarters, the world's largest futures exchange operator said on Tuesday. A spokeswoman declined to say how much money the cost cuts will save at CME, which owns the Chicago Board of Trade and New York Mercantile Exchange.

  • CME Group to cut 5 percent of global workforce Tuesday, 14 Oct 2014 | 11:23 AM ET

    CHICAGO, Oct 14- CME Group Inc plans to cut 5 percent of its global workforce, or about 150 jobs, the world's largest futures exchange operator said on Tuesday. Most of the layoffs will come from CME's technology operations, with the rest coming from corporate and administration functions, the Chicago- based company said. CME, which owns the Chicago Board of Trade and...

  • BARI, Italy Oct 14- Italian magistrates have ordered Merrill Lynch and two of its former employees to stand trial over a regional government's losses from a 870 million euro bond, investigative and legal sources told Reuters on Tuesday. The case relates to bonds issued by the Apulia region in 2003-2004 in a restructuring of its health sector debt through...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • Oct 10- Blackstone Group LP said it would spin off its M&A, restructuring and private equity fundraising advisory businesses to avoid conflicts, combining them with the advisory firm of Morgan Stanley investment banking veteran Paul Taubman. Blackstone's advisory businesses being spun out account for a tiny fraction of the New York firm's earnings,...

  • Oct 10- Blackstone Group LP said on Friday it would spin off its M&A, restructuring and private equity fundraising advisory businesses and combine them with the financial advisory firm of Morgan Stanley veteran Paul Taubman, in a move to avoid conflicts. Taubman, who left Morgan Stanley in 2012, has been behind some of the biggest deals of the past few years,...

  • Oct 9- Riverbed Technology Inc said it would review strategic options and started a restructuring program to cut costs, three days after activist investor Elliott Management reaffirmed its offer to buy the network equipment maker. The hedge fund, headed by billionaire Paul Singer, has been making repeated offers to buy Riverbed since January and its latest...

  • Yahoo downsizes engineering operations in India Tuesday, 7 Oct 2014 | 1:02 PM ET

    SAN FRANCISCO, Oct 7- Yahoo Inc is reducing the size of its operations in Bangalore, India, the Internet company's largest engineering facility outside its California headquarters. The move comes more than a week after activist investor Starboard Value LP publicly pressured Yahoo to cut what it referred to as a "bloated" cost structure. "As we ensure that Yahoo is...

  • *Meg Whitman to lead new Hewlett-Packard Enterprise. *Dion Weisler to become CEO of HP Inc. Oct 6- Hewlett-Packard Co said it would split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations, and eliminate another 5,000 jobs as part of its turnaround plan.