AMSTERDAM— ING Group NV, the Dutch bank, says it will cut 1,700 jobs, or 2.7 percent of its workforce, to cut costs. ING said the cuts are part of a move to expand its digital banking operations and jobs will be lost "at the headquarters of ING Retail Banking and in the back offices, call centers and IT departments." Earlier this month, ING paid back the last of a 10 billion euro...» Read More
Oct 10- Blackstone Group LP said it would spin off its M&A, restructuring and private equity fundraising advisory businesses to avoid conflicts, combining them with the advisory firm of Morgan Stanley investment banking veteran Paul Taubman. Blackstone's advisory businesses being spun out account for a tiny fraction of the New York firm's earnings,...
Oct 10- Blackstone Group LP said on Friday it would spin off its M&A, restructuring and private equity fundraising advisory businesses and combine them with the financial advisory firm of Morgan Stanley veteran Paul Taubman, in a move to avoid conflicts. Taubman, who left Morgan Stanley in 2012, has been behind some of the biggest deals of the past few years,...
Oct 9- Riverbed Technology Inc said it would review strategic options and started a restructuring program to cut costs, three days after activist investor Elliott Management reaffirmed its offer to buy the network equipment maker. The hedge fund, headed by billionaire Paul Singer, has been making repeated offers to buy Riverbed since January and its latest...
SAN FRANCISCO, Oct 7- Yahoo Inc is reducing the size of its operations in Bangalore, India, the Internet company's largest engineering facility outside its California headquarters. The move comes more than a week after activist investor Starboard Value LP publicly pressured Yahoo to cut what it referred to as a "bloated" cost structure. "As we ensure that Yahoo is...
*Meg Whitman to lead new Hewlett-Packard Enterprise. *Dion Weisler to become CEO of HP Inc. Oct 6- Hewlett-Packard Co said it would split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations, and eliminate another 5,000 jobs as part of its turnaround plan.
The number of planned layoffs by U.S. employers fell to a 14-year low in September, according to a report by Challenger, Gray & Christmas.
Oct 1- The California Public Employees' Retirement System, or Calpers, on Wednesday said it disagreed with a U.S. bankruptcy judge's ruling that Stockton, California, could impair worker pensions as part of the city's proposed financial restructuring. "This ruling is not legally binding on any of the parties in the Stockton case or as precedent in any other...
Oct 1- Online auctioneer Liquidity Services Inc said it will cut about 130 full-time and temporary jobs through 2015 after it paid more for a contract with the U.S. Department of Defense to auction goods such as field gear and boats. Losing a contract to auction DoD vehicles also led to the job cuts, spokeswoman Julie Davis said. The company, which provides online...
SACRAMENTO, Calif., Oct 1- The judge overseeing the Stockton, California, bankruptcy on Wednesday ruled the state's huge pension system, Calpers, can be impaired as part of the city's financial restructuring. Bankruptcy Judge Christopher Klein said the city's contract with the California Public Employees' Retirement System could be rejected.
Oct 1- The New York Times Co said on Wednesday it would cut jobs, including about 7.5 percent of newsroom positions, to lower costs as advertising revenue from its print business dwindles and new products fall short of expectations. The company's shares rose as much as 9 percent.
Oct 1- The New York Times Co said on Wednesday it would cut jobs to lower costs and invest the savings in its "digital future" as advertising revenue from its print business dwindles, sending the company's shares up 7 percent.
Oct 1- The New York Times Co said it planned to cut jobs to lower costs and invest the savings in its "digital future." "The reduction in positions will vary across the company," the New York Times said in a regulatory filing.
The New York Times plans to eliminate about 100 newsroom jobs, as well as a smaller number of positions from its editorial and business operations.
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BEIJING, Sept 23- Chinese state metals trader Sinosteel Corp is not about to undergo a restructuring as a result of mounting debt, a company official said on Tuesday, denying domestic media reports.
Sept 23- Trading firm KCG Holdings Inc said it has begun cutting 4 percent of its workforce to focus on areas with potential for growth.
LONDON, Sept 23- Recent stirrings of long-dormant financial market volatility have come in the nick of time for an industry that has been bleeding revenue and jobs for years, even though bankers doubt the secular downsizing of the trading world can be reversed.
IBM's pay-to-play memo to employees is disturbing, says career coach Marie McIntyre. Here's some advice for IBM management.
A U.S. meat supplier is laying off most of the workforce of a China subsidiary accused of selling expired meat to KFC, McDonald's and other customers.
MOSCOW, Sept 19- Russian bank VTB will have to take legal action to recover debts from Mechel after other attempts to help the struggling steelmaker failed, RIA news agency quoted VTB's chief executive as saying on Friday. Mechel wants its main creditor banks, which besides VTB include Sberbank and Gazprombank, to restructure its debt.