MOLINE, Ill.— Agricultural equipment maker Deere is announcing it will indefinitely lay off more than 600 employees at four of its factories in the Midwest as demand slumps. The affected sites are in the cities of East Moline and Moline in Illinois, as well as Ankeny, Iowa, and Coffeyville, Kansas.» Read More
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.
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.
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.
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.
RIO DE JANEIRO, June 3- Creditors of Brazilian tycoon Eike Batista's Oleo e Gas Participacoes SA approved a restructuring plan for the oil company that could lead to a quick resolution of the largest bankruptcy in Latin America's history, lawyers said on Tuesday.
The involvement of managers underscores the growing complexity and unpredictability of labor relations in China. Yue Yuen's strike wasn't the first time in recent years managers, rather than front-line workers, helped orchestrate industrial action in China.
*Storm comes as Siemens is considering bid for Alstom. BERLIN/ MUNICH, May 30- The chief executive of German conglomerate Siemens tried to calm a brewing storm over job cuts on Friday after he let slip at an investor conference in New York that his plan to restructure the company could put up to 11,600 staff at risk.
MUNICH, May 30- The chief executive of German conglomerate Siemens said up to 11,600 jobs could be at risk in a restructuring plan he unveiled earlier this month that aims to save the company 1 billion euros annually. Previously Siemens had been structured along sectoral and regional lines.