Layoffs
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LONDON, April 18- British insurer Aviva Plc will cut as many as 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalising its flagging fortunes, the company confirmed on Thursday.
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April 18- British insurer Aviva PLC will cut as many as 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalising its flagging fortunes, a source close to the company told Reuters on Thursday.
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ROME, April 16- Thousands of idled Italian workers staged a sit-in in front of parliament on Tuesday and trade unions threatened strikes unless the government steps in to back a temporary jobless scheme which is running out of funds.
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April 11- Drugmaker Eli Lilly and Co plans to lay off about 1,000 domestic sales representatives, or 30 percent of its U.S. sales force, as it faces new generic competition for its top drugs, a person familiar with the matter said on Friday. Lilly has 38,000 employees worldwide and about 17,000 in the United States.
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April 10- Walt Disney Co on Wednesday confirmed the company is laying off employees in its movie studio division, a cost-cutting step after a review of the unit's operations. In a brief statement, Disney said it "made the difficult decision to reduce our staffing levels" in several studio divisions.
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April 8- Avon Products Inc said on Monday it will slash more than 400 jobs as part of a turnaround plan aimed at restoring the cosmetics maker to profitability. In February, Avon reported surprisingly strong fourth-quarter earnings after reversing sales declines in top markets like Brazil and Russia.
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*Raised $1.2 bln from investors, but cash has dwindled to $30 mln. DETROIT, April 5- Fisker Automotive, the struggling, government-backed hybrid sports car maker, said on Friday that it terminated most of its rank-and-file employees, in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing.
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CHICAGO, April 5- Caterpillar Inc said on Friday it was laying off 460 workers at a U.S. plant that makes mining equipment. Caterpillar, which had already implemented temporary layoffs and line shutdowns as well as a shortened work week in Decatur, said the permanent layoffs were needed to "bring production in line with demand."
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LOS ANGELES, April 4- Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, according to two people with knowledge of the matter, in the latest cost-reduction step to emerge from a company-wide review.
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NEW YORK, April 4- The number of planned layoffs at U.S. firms fell in March but downsizing by retail companies still helped the first quarter rack up the largest amount of cuts in over a year, a report showed on Thursday.
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John Challenger, CEO of Challenger, Gray & Christmas, breaks down the latest results on job cuts last month.
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NEW YORK, April 4- The number of planned layoffs at U.S. firms fell in March but downsizing by retail companies still helped the first quarter rack up the largest amount of cuts in over a year, a report showed on Thursday.
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DETROIT/ NEW YORK, March 28- Fisker Automotive, the green-car company that has not built a car since July, hired restructuring lawyers from Kirkland& Ellis to prepare for a possible bankruptcy filing, The Wall Street Journal reported on Thursday, citing people familiar with the matter. On April 22, Fisker must make a payment on a U.S. Department of Energy loan.
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WASHINGTON, March 26- President Barack Obama's top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010 healthcare restructuring due to take effect next year.
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*About 5 pct of UK staff could be cut. *Steve Graf replaces David Faktor as head of trading. NEW YORK, March 26- UK- based Stemcor, the world's largest independent steel-focused trading firm, will restructure various parts of its business and cut some jobs in response to weak market conditions, the company said on Tuesday.
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March 26- Supervalu Inc said it will cut about 1,100 jobs across the country as it tries to revamp its business after selling some of its supermarket chains.
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*Consultation process on job cuts ends March 31. RUSTENBURG, South Africa, March 26- Cattle graze the fields around Anglo American Platinum's South African mines, a familiar sight for workers with a rural past, and possibly a hint of their future as the world's largest platinum producer plans 14,000 job cuts.
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WASHINGTON, March 25- Waltham, Massachusetts- based Raytheon Co said on Monday it will pare its business units down to four starting on April 1 to boost productivity and lower costs, resulting in annual savings of about $85 million and the elimination of 200 jobs.
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DETROIT/ PARIS, March 21- Ford's plan to cut jobs and close plants, once hailed as proactive, may not be enough to halt losses in Europe- where moves to rein in margin-crushing discounts have sparked a further sales plunge.
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FRANKFURT, March 21- Employees at the Bochum, Germany car plant of General Motors' Opel unit have rejected a restructuring deal agreed by union leaders and management, meaning production at the plant will now cease at the end of next year, the company said.