Layoffs
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FOOTHILLS RANCH, Calif.-- The Wet Seal Inc. said Friday and its chief operating officer is stepping down as the struggling retailer implements a broad restructuring program. Wet Seal also authorized a $25 million stock buyback program, cut 35 jobs and will close two money-losing Arden B stores at the end of its 2012 fiscal year.
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*Sears Canada in the middle of turnaround plan. TORONTO, Jan 31- Sears Canada, which is struggling with shrinking sales and the looming arrival of Target Corp on the Canadian retail scene, said on Thursday it was laying off 700 workers as part of a plan to "right-size" the operation.
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ALBANY, N.Y.-- The New York State Thruway Authority is planning 234 layoffs to help shore up its finances, but no toll increases are planned. Thruway spokesman Dan Weiller says the layoffs of full-time workers will be in all regions, including the Albany headquarters. Andrew Cuomo, but is legally independent of state government.
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Jan 31- Dow Chemical Co reported a quarterly net loss on Thursday due to large restructuring charges and falling sales of specialty plastics and chlorine. For the fourth quarter the company posted a net loss of $716 million, or 61 cents per share, compared with a net loss of 20 million, or 2 cents per share, in the year-earlier quarter.
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FRANKFURT, Jan 31- Deutsche Bank posted a $3.5 billion quarterly loss as it took legal and restructuring charges aimed at drawing a line under past scandals and boosting its capital position in a tougher regulatory and trading environment.
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Jan 30- Time Inc on Wednesday began the process of cutting about 500 jobs, about 6 percent of its total staff, according to a source familiar with the company, as the largest U.S. magazine publisher grapples with challenges beleaguering the print industry. The layoffs mark the first major move made by Time Inc CEO Laura Lang, who joined the company in January 2012.
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*Fourth-quarter net income falls to 4 cents a share from 7 cents. Jan 29- Boston Scientific Corp reported weaker quarterly earnings on Tuesday as sales slipped and expenses rose, and the medical device maker announced more job cuts. Boston Scientific employs 24,000 workers worldwide, according to its website.
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Jan 28- Software maker VMware Inc said on Monday it was cutting 900 jobs as part of a restructuring plan, and it gave a disappointing outlook for 2013. Its shares fell 13 percent in after-hours trade.
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*Technical pressure adds to platinum selling below $1,700. *Russia, Turkey sharply added gold reserves in December. NEW YORK, Jan 28- Platinum posted its biggest one-day drop in over a month on Monday, as news the world's largest platinum producer Anglo American Platinum agreed to postpone massive job cuts eased supply fears.
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JOHANNESBURG, Jan 28- South Africa, Anglo American Platinum and labour unions have agreed to postpone a restructuring exercise that could lead to 14,000 job cuts to allow for more talks, the minerals department said.
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JOHANNESBURG, Jan 28- South Africa's government, Anglo American Platinum and labour unions have agreed to postpone a restructuring exercise that could lead to 14,000 job cuts to allow for more talks, the minerals department said on Monday.
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SAO PAULO, Jan 27- General Motors Co averted a looming strike in Brazil by delaying the layoff of as many as 750 workers until the end of the year and vowing to invest about 500 million reais at its Sao Jose dos Campos facility.
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WASHINGTON, Jan 25- The Pentagon has begun laying off many of its 46,000 temporary and contract employees and cutting maintenance on ships and aircraft in an effort to slow spending due to fears of new defense budget cuts, Deputy Defense Secretary Ashton Carter said on Friday.
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WASHINGTON, Jan 25- The Pentagon has begun laying off most of its 46,000 temporary and term employees and cutting maintenance on ships and aircraft in an effort to slow spending due to fears of new defense budget cuts, Deputy Defense Secretary Ashton Carter said on Friday.
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*Adjusted loss 58 cents/ shr vs estimate of loss 61 cents. Jan 24- United Continental Holdings Inc posted a bigger fourth-quarter loss on Thursday as costs rose and revenue fell, and the carrier said it expects to cut more than 600 management and administrative jobs. Chairman and Chief Executive Jeff Smisek said 2012 was tough, but things were looking up. "
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SAN FRANCISCO, Jan 23- Symantec Corp plans to slash its management ranks and reorganize into 10 business areas, but has decided not to sell off major assets after a strategic review by its new early this month.
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Chinese investment banks are carrying out their biggest layoffs and bonus cuts since the financial crisis as they brace for further profit declines, hit by an ongoing drought in initial public offerings in China that started in September.
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Chinese investment banks are carrying out their biggest layoffs and bonus cuts since the financial crisis as they brace for further profit declines, hit by an ongoing drought in initial public offerings in China that started in September.
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FRANKFURT/ BERLIN, Jan 22- General Motors said on Tuesday it may close a German factory at its Opel subsidiary earlier than proposed adding restructuring talks with unions must be wrapped up by February, as the U.S. carmaker seeks deep cuts to save its ailing brand. "I have asked the Opel management and labour to reach a solution in February.