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Layoffs

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  • July 12- The Trump Plaza Hotel in Atlantic City could shut its doors in September and lay off 1,000 workers, a local newspaper reported, in what could make it the fourth casino to close this year in the faltering New Jersey resort city.

  • Cutoff passes in Detroit bankruptcy creditor vote Friday, 11 Jul 2014 | 4:02 AM ET

    DETROIT— The deadline passed Friday for thousands of creditors to vote on Detroit emergency manager Kevyn Orr's bankruptcy restructuring plan for the city. Ballots had to be received no later than 5 p.m. EDT by a consulting company in California to be counted in the largest municipal bankruptcy in U.S. history.

  • SEATTLE, July 10- Microsoft Corp Chief Executive Satya Nadella deferred any comment on widely expected job cuts at the software company on Thursday, after circulating a memo to employees promising to "flatten the organization and develop leaner business processes."

  • Fidelity to cut nearly 500 printing and mailing jobs Thursday, 10 Jul 2014 | 10:34 AM ET

    BOSTON, July 10- Fidelity Investments, the No. 2 U.S. mutual fund company, told employees this week it will cut about 460 jobs, or 1 percent of its workforce, at its printing and mailing operations in Kentucky and Texas.

  • JOHANNESBURG, July 8- Two unions representing some of Telkom SA's workers said on Tuesday they would take the South African landline provider to court over possible job losses.

  • JOHANNESBURG, July 8- Two unions representing some of Telkom SA's workers said on Tuesday they would take the South African landline provider to court over possible retrenchments. The South Africa Communications Union said it believed Telkom was about to let go of about 9,000 of its 19,000 employees over the next six months, a claim the company said was untrue.

  • Layoffs at lowest level of the year: Challenger Thursday, 3 Jul 2014 | 7:30 AM ET

    Planned job cuts announced by U.S. companies dropped 41 percent to 31,434 in June, according to a report by Challenger, Gray & Christmas.

  • *Southwest growth helps Nashville bounce back. As Nashville discovered, it can take years of adjustments to come to terms with an airline's decision to pull back.

  • *Working with CIMB Investment Bank on restructuring plan. *Deal could cost Khazanah 1.05 billion ringgit at 21 sen per share.

  • *Now sees adj EBITDA at 380- 400 mln eur vs 419 mln in 2013. FRANKFURT, July 1- Shares in Bilfinger slumped on Tuesday after the German engineering and services group issued a profit warning and said it would have to restructure its power business, entailing "significant" job losses.

  • June 27- Women's fashion retailer Bebe Stores Inc said it would exit its unprofitable "2 b bebe" business, under which it sells affordable apparel and accessories, by July as part of a cost-cutting program. The company said it would take a pretax charge of $5 million- $6 million related to the closure of the 2 b bebe business, including 16 mall-based stores.

  • June 25- Bank of America Corp is laying off 540 workers at its loss-making legacy assets and servicing business, which handles delinquent mortgage loans.

  • JOHANNESBURG, June 24- The world's three biggest platinum firms signed a wage deal with South Africa's AMCU union on Tuesday but said that fallout from a five-month strike made job cuts and restructuring inevitable, setting the scene for more labor turmoil.

  • Struggling cosmetics maker Avon to cut 600 jobs Tuesday, 24 Jun 2014 | 6:50 AM ET

    Cosmetics maker Avon Products said it would cut about 600 jobs, including in its North America unit, as the company struggles to return to profit.

  • *Platinum strike dragging South Africa towards recession. The Association of Mineworkers and Construction Union last week put a broad pay offer agreed "in principle" with producers to its members. Impala Platinum said the additional demands included a 3,000 rand "come-back bonus" and a moratorium on all restructuring and retrenchments.

  • TORONTO, June 16- Canada's Bombardier Inc said on Monday that it has laid off more than 100 staff and let go 110 contract workers in the United States and Mexico due to delays in the flight test program for its all-new Learjet 85 business jet.

  • Opel reaches severance deal with Bochum staff Monday, 16 Jun 2014 | 10:38 AM ET

    FRANKFURT, June 16- Opel, the European arm of General Motors, has reached a severance deal with workers at its Bochum factory in Germany, it said on Monday, a crucial step in the automaker's restructuring.

  • PARIS, June 11- France's third biggest mobile operator Bouygues Telecom plans to cut 1,516 jobs or 17 percent of its staff to reduce costs to ensure its survival in a market where prices are down by nearly one-third.

  • PARIS, June 11- France's third-placed mobile operator Bouygues Telecom plans to get rid of 17 percent of its staff, or some 1,516 workers, in a bid to cut costs to ensure its independence in a turbulent market where prices fell by one-third last year.

  • KUALA LUMPUR, June 10- Malaysia will unwrap plans to restructure loss-making Malaysian Airlines within six to 12 months, a state investor said, as a slump in business since the disappearance of Flight MH370 leaves the carrier set to exhaust its cash reserves by mid-2015.