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  • LONDON, April 9- Three years after facing off over Greece's debt workout, the two giants of debt restructuring- Lazard and Blackstone- are again preparing to do battle, one for Ukraine and the latter on behalf of its creditors. Another prominent player is Franklin Templeton, one of the world's biggest asset managers, whose star investor, Michael Hasenstab, has...

  • Salem rehab hospital announces closing in September Wednesday, 8 Apr 2015 | 6:33 AM ET

    SALEM, Mass.— A Salem rehabilitation hospital that can trace its roots in the city to the 18th century is closing its doors in September. Spaulding Hospital officials tell The Salem News that upcoming changes in federal regulations designed to cut Medicare costs will lead to dramatic reductions in the types of patients Spaulding will be allowed to admit.

  • SLINGER, Wis.— A company that provides home and respite care to elderly and disabled people around Wisconsin plans to end operations next month and lay off its 700 employees. GeminiCares, based in Slinger, has employees in 11 communities in Wisconsin. Besides Slinger, GeminiCares has employees in Adams, Hayward, Eau Claire, La Crosse, Marinette, Neillsville,...

  • April 6- U.S. media company Viacom Inc said it will undertake a restructuring, including cutting jobs, abandoning some acquired titles and reorganizing three of its domestic network groups into two new organizations, to drive growth. Viacom also halted its $20 billion share buyback program due to the restructuring and the spending on acquisitions...

  • Employers' layoff plans drop to 36K: Challenger Thursday, 2 Apr 2015 | 8:06 AM ET
    Pink slip job cut

    The pace of job cuts in the United States slowed significantly in March following two consecutive months of downsizing in excess of 50,000 positions.

  • April 1- Canada's largest oil and gas company Suncor Energy Inc said on Wednesday that it expected to largely implement operating budget cuts of C $600 million to C $800 million in 2015, ahead of the previously projected two-year period. The company had said in January that it would also cut about 1,000 jobs, freeze hiring and slash C $1 billion in capital...

  • March 31- Alloys maker Carpenter Technology Corp said on Tuesday that it will cut about 10 percent of its salaried workforce, or 200 jobs, to reduce costs amid weak oil and gas prices. Services to oil and gas companies accounted for about 16 percent of Carpenter Technology's adjusted sales in the second quarter ended Dec. 31. Carpenter Technology forecast a loss of...

  • Alloys maker Carpenter Technology to cut 200 jobs Tuesday, 31 Mar 2015 | 4:52 PM ET

    March 31- Alloys maker Carpenter Technology Corp said on Tuesday that it will cut about 10 percent of its salaried workforce, or 200 jobs, to reduce costs amid weak oil and gas prices.

  • SAO PAULO, March 30- Volkswagen AG has furloughed 4,200 workers at its second largest factory in Brazil for three weeks, a local union said on Monday, as disappearing demand forces carmakers in the country to manage excess capacity. As exports to Argentina have plunged and demand in Brazil hits its worst downturn in over a decade, VW is cutting a shift at the Taubate...

  • SAO PAULO, March 30- Volkswagen AG has furloughed 4,200 workers at its second largest factory in Brazil for three weeks, a local union said on Monday, as a demand crisis forces domestic carmakers to manage excess capacity. As exports to Argentina have plunged and demand in Brazil hits its worst downturn in over a decade, VW is cutting a shift at the Taubate plant and...

  • March 25- General Electric Co said it increased planned job cuts in its Lufkin oilfield equipment unit to 575, as it grapples with pressure on the unit from the drop in oil prices. "As a result of increasingly challenging market conditions, we are announcing additional workforce reductions in our Lufkin business," said Kristin Schwarz, a GE Oil& Gas spokeswoman.

  • March 25- General Electric Co increased planned job cuts in its Lufkin oilfield equipment unit to 575, as it grapples with pressure on the unit from the drop in oil prices, Bloomberg reported. The move follows GE's notification to regulators in January of the planned layoffs of 330 people at its beam-pumping manufacturing facility in Lufkin, Texas.

  • March 25- Wells Fargo& Co, the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin. Wells Fargo, which will close the office in late July, will inform employees of other job opportunities within the company, the bank said. Shares of Wells Fargo, which had about 265,000 employees as of Dec. 31,...

  • MOSCOW, March 23- German car producer Volkswagen said on Monday it would reduce shifts and lay off at least 150 workers at its Russian car plant in Kaluga, south of the capital Moscow. The carmaker said the Kaluga plant would work four days a week from April to July this year, while in May the number of shifts would decrease to two from three. It added that the production...

  • *Restructuring costs to total over 200 bln yen- source. TOKYO, March 19- Japan's loss-making Sharp Corp intends to cut 12 percent of its workforce in a global restructuring expected to cost more than $1.7 billion, a person familiar with the plan said on Thursday. The job cuts will total around 6,000, half of which would come in Japan through early retirement while...

  • March 18- Sharp Corp is cutting more than 10 percent of its Japanese workforce starting in April, according to a Nikkei report. The embattled electronics manufacturer will slash about 3,000 jobs through voluntary retirements and expects to book about 30 billion yen in retirement-related expenses for 2015, the business daily said. The company could also cut...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, has begun to cut some 340 employees in North America, and started...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, will cut approximately 340 employees in North America and 60 at its UK...

  • Tesla is shedding jobs after missing sales target Monday, 9 Mar 2015 | 6:36 AM ET
    The interior of the Tesla Model D

    Tesla Motors said it is cutting jobs in China under a restructuring plan launched earlier this year, after missing a sales target.

  • HONG KONG, March 9- Chinese property developer Kaisa Group Ltd has proposed cutting the interest and extending the maturities of its offshore bonds in a critical debt restructuring plan it needs to get creditors to agree to or risk defaulting on payments. Kaisa, mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...