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  • FRANKFURT, April 23- German ATM maker Wincor Nixdorf will cut 12 percent of its workforce and spin off its cashless payments business as part of a restructuring announced on Thursday. Wincor had warned this month that it would miss its sales and operating profit guidance for the year, citing deteriorating business in Russia and China, sluggish recovery in...

  • Job fair a hope for laid-off Atlantic City casino workers Wednesday, 22 Apr 2015 | 12:37 PM ET

    ATLANTIC CITY, N.J.— There were only about 100 jobs available, and most of them will last for only three months. But that did not discourage a large crowd of applicants looking for work Wednesday at The Chelsea, a boutique non-casino hotel in Atlantic City. Among them was Ronald Roberts, who lost his job as a cook when the Showboat casino shut down last August.

  • Employers cut jobs in 31 US states as growth slows Tuesday, 21 Apr 2015 | 10:24 AM ET

    The Labor Department said Tuesday that unemployment rates rose or were unchanged in 27 states and fell in 23 states. The biggest job cuts occurred in states with large oil and gas drilling, led by Texas, which lost 25,400 jobs, and followed by Oklahoma, which cut 12,900. Pennsylvania lost 12,700, the third largest loss. Pennsylvania has benefited in recent years...

  • *Deutsche Bank could value Postbank at around 3.6 billion euros. FRANKFURT, April 21- Postbank is a low-profit retail banking network in need of restructuring but current owner Deutsche Bank may discover plenty of potential buyers prepared to look beyond the blemishes of the German chain. Selling Postbank on the stock market instead of directly to a strategic...

  • Baker Hughes reports quarterly loss on $772 mln charge Tuesday, 21 Apr 2015 | 8:17 AM ET

    April 21- Oilfield services provider Baker Hughes Inc, which is in the process of being acquired by Halliburton Co for $35 billion, posted a quarterly loss compared with a year-earlier profit as it recorded a $772 million charge related to restructuring and other items. Baker Hughes said it would cut 10,500 jobs, or 17 percent of its global workforce, up from 7,000...

  • China's incredible shrinking factory Thursday, 16 Apr 2015 | 5:00 PM ET

    HUIZHOU, China, April 17- Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Cankun, an appliances factory in southern China featured in the documentary Manufactured Landscapes, had more than 22,000 manufacturing employees in 2005, according to its annual report. Some Hong Kong- owned factories in southern China...

  • WASHINGTON, April 16- U.S. rules to cut carbon emissions could close more than 90 coal plants and eliminate jobs that support mining and power stations that the federal government has not fully considered, a report by the conservative American Action Forum research group said on Thursday. The EPA also says the rules will save consumers billions of dollars over...

  • TOKYO, April 16- Japan's Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discussions said. As part of its second major bailout in three years, Sharp's lenders, Mizuho Bank and Bank of...

  • April 15- Memory chipmaker SanDisk Corp reported its first fall in quarterly revenue in two years and plans to cut jobs to reduce costs as it struggles to meet demand for its flash-based memory products. SanDisk's adjusted profit also fell short of analysts' average estimate, sending the company's shares down nearly 6 percent in after market trading on...

  • 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...

  • 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,...