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  • Wet Seal files for Chapter 11 bankruptcy Friday, 16 Jan 2015 | 10:36 AM ET
    Wet Seal clothing

    Wet Seal filed for bankruptcy protection late, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores.

  • CRANBERRY, Pa.— A food cooperative that sells fundraising programs to schools is laying off 43 workers at it western Pennsylvania office. The Butler Eagle reports Market Day in Cranberry Township has filed notice with the state Department of Labor and Industry that it plans to lay off the workers about March 7. The Cranberry Township location is in Butler County,...

  • CLEARFIELD, Pa.— A central Pennsylvania hospital is cutting 30 jobs, not filling 11 others and reducing hours for 50 other workers. About 65 percent of the hospital's revenue comes from Medicare and Medicaid. The 96- bed hospital about 100 miles northeast of Pittsburgh opened in 1901, and is part of the Penn Highlands Healthcare network.

  • Jan 16- Wet Seal Inc filed for bankruptcy protection late on Thursday, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. Wet Seal, which reported slowing year-on-year sales growth for the past five quarters, warned last month that it may seek to restructure under provisions of the U.S. Wet Seal sells apparel and...

  • Jan 15- Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices. Schlumberger had said last month that it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels. Schlumberger's customers- oil...

  • Schlumberger to cut 9,000 jobs on oil-price plunge Thursday, 15 Jan 2015 | 5:39 PM ET

    Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce.

  • LISBON, Jan 15- The future buyer or buyers of Portugal's flag carrier TAP will be barred from laying off workers en masse as long as the state remains a shareholder, the government said on Thursday. At a cabinet meeting on Thursday, the government approved a prospectus with conditions for TAP privatisation, which also include preserving TAP's status as the...

  • Bombardier cutting 1,000 jobs in Mexico, Kansas Thursday, 15 Jan 2015 | 9:09 AM ET

    MONTREAL— Bombardier says it's going to cut about 1,000 employees from its Learjet business in 2015, affecting sites in Mexico and the United States. The Montreal- based company said Thursday the cuts are due to weak demand for the Learjet 85 business jet. Bombardier says its operations in Wichita, Kansas, and Queretaro, Mexico, remain important to the company for...

  • NEW YORK— Citigroup said Thursday that its fourth-quarter profit dropped 86 percent after incurring large legal and restructuring charges. Money was also set aside to cover costs associated with reducing the Citi's headcount and cutting its real-estate holdings. Like JPMorgan Chase and Bank of America, Citi also reported a drop in quarterly fixed-income...

  • LONDON, Jan 15- Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. BP employs 4,000 people in the North Sea and another 11,000 across the UK. Fellow North Sea oil producer ConocoPhillips is cutting 230 jobs in Britain,...

  • TORONTO, Jan 15- Bombardier Inc said on Thursday that it had suspended its Learjet 85 aircraft program and was laying off about 1,000 employees due to weak demand for the business jet. Bombardier said the pause would result in a pretax charge of about $1.4 billion for the fourth quarter, mainly for the impairment of the Learjet 85 development costs.

  • UPDATE 1-BP to cut North Sea jobs as oil price plummets Thursday, 15 Jan 2015 | 4:59 AM ET

    LONDON, Jan 15- BP will cut hundreds of jobs in the North Sea to reduce costs in one of the world's most expensive exploration areas as oil prices fall. The BBC quoted sources as saying staff cuts would be announced later on Thursday in the Scottish city of Aberdeen. Fellow North Sea oil producer ConocoPhillips is also cutting 230 jobs in Britain, with its UK...

  • WASHINGTON, Jan 14- A plunge in energy prices is hitting America's oil and gas producers, leading some firms to lay off workers while others struggle to get loans, the Federal Reserve said on Wednesday. The Fed's monthly Beige Book report on business activity had some evidence of this economic boost, with firms telling the Fed that lower gasoline prices helped...

  • LONDON, Jan 14- Oil producer Premier Oil expects to book a $300 million impairment charge due to the plunge in oil prices and plans to cut jobs and investment to rein in costs, it said on Wednesday. Premier Oil, whose operations stretch from the Falklands to Vietnam, also said it was reducing investments to develop fields by 40 percent to around $600 million and that...

  • Jan 12- United Airlines is assessing whether to outsource jobs at airports around the country in a cost-cutting effort that could impact some 2,000 workers. The Chicago- based carrier informed employees Monday that jobs up for review included baggage handlers and gate and customer service agents at 28 airports that are not hubs, ranging from Atlanta to...

  • SAN FRANCISCO, Jan 12- Chipmaker Advanced Micro Devices announced the departure of three senior executives on Monday following recent layoffs and the appointment of a new CEO. John Byrne, General Manager of AMD's Computing and Graphics Business Group is leaving, as are Chief Marketing Officer Colette LaForce and Chief Strategy Officer Raj Naik, the company...

  • SAO PAULO, Jan 12- Thousands of Brazilian metalworkers marched on a highway outside of Sao Paulo on Monday to protest layoffs by carmakers, adding to a mounting crisis in a politically sensitive industry. State police said about 7,000 workers from Volkswagen AG, Ford Motor Co and the Mercedes-Benz truck unit of Germany's Daimler AG occupied a lane of the highway...

  • 7 habits of highly successful businesses Monday, 12 Jan 2015 | 11:40 AM ET

    Here are 7 ways market leaders stay ahead of the competition — and ahead of the curve.

  • SAO PAULO, Jan 12- Thousands of metalworkers in Brazil marched on a highway outside of Sao Paulo on Monday to protest layoffs by carmakers, adding to a mounting crisis in a politically sensitive industry. State police said about 7,000 workers from Volkswagen AG, Ford Motor Co and the Mercedes-Benz truck unit of Germany's Daimler AG occupied a lane of the highway...

  • CALGARY, Alberta, Jan 9- Royal Dutch Shell will cut from 5 to 10 percent of the about 3,000 jobs at its Albian Sands mining project in northern Alberta, a company spokesman said on Friday, but refrained from connecting the move to plunging oil prices. Albian Sands is the mining portion of Shell's Athabasca Oil Sands project near Fort McMurray, Alberta, which also...