Layoffs
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Chinese investment banks are carrying out their biggest layoffs and bonus cuts since the financial crisis as they brace for further profit declines, hit by an ongoing drought in initial public offerings in China that started in September.
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Chinese investment banks are carrying out their biggest layoffs and bonus cuts since the financial crisis as they brace for further profit declines, hit by an ongoing drought in initial public offerings in China that started in September.
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FRANKFURT/ BERLIN, Jan 22- General Motors said on Tuesday it may close a German factory at its Opel subsidiary earlier than proposed adding restructuring talks with unions must be wrapped up by February, as the U.S. carmaker seeks deep cuts to save its ailing brand. "I have asked the Opel management and labour to reach a solution in February.
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MADRID, Jan 21- Workers at three of Spain's bailed-out banks will stage strikes in coming weeks as they fight mass layoffs, unions said on Monday, spreading industrial unrest to a sector where walkouts have so far been rare.
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CHICAGO, Jan 20- While delivering mail on Chicago's North Side, Lakesha Dortch-Hardy spoke about how much she loves her job at the U.S. Postal Service, and how much it would hurt if jobs such as hers were to disappear. The cash-strapped U.S. Postal Service has eliminated 168,000 jobs since 2006, and more cuts could result as it struggles to avoid its own "fiscal cliff."
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Jan 18- State Street Corp said on Friday it would cut about 630 jobs worldwide, lifting its stock 5 percent, as it reported a 26 percent boost in fourth-quarter net income amid pressure from some of its largest shareholders to cut expenses.
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Top executives at Goldman Sachs have been considering deep cuts to staffing levels and pay for at least two years, but feared too many layoffs would leave the firm unprepared for an eventual pickup in business, people familiar with the bank said.
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MONTREAL, Jan 16- The Cirque Du Soleil, known for its high wire, fantastical shows worldwide, brought its employees down to earth on Wednesday with the announcement it was laying off 400 people, or 8 percent of its workforce.
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*4th- qtr profit $5.60/ share vs Street view $3.78. Jan 16- Goldman Sachs Group Inc paid a smaller portion of its revenue to employees in 2012 as it laid off staff, signaling that management at the top Wall Street bank may be ceding power to the shareholders who supply the capital.
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Jan 16- Here is summary of major company job cuts announced and planned around Europe in the past month as economic worries have spread, including jobs at risk at UK retailer HMV:. Renault 7,500** Honda 800 TOTAL 8,300. **Renault aims to cut 7,500 jobs by 2016.
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Jan 9- Morgan Stanley plans to slash 1,600 jobs in what may be just the beginning of a new round of layoffs at large investment banks, this time driven by a deeper reassessment of Wall Street businesses in the face of new regulations and capital standards.
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Jan 9- Morgan Stanley plans to cut 1,600 employees starting this week, two people familiar with the matter said on Wednesday, in the latest sign of a pullback on Wall Street as revenue from trading and deal-making remains in the doldrums.
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CNBC's David Faber reports on continuing downsizing on Wall Street, and Dish Network's unsolicited takeover bid for Clearwire.
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Things are getting serious at the Magic Kingdom: Disney started an internal cost-cutting review and is mulling layoffs.
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LOS ANGELES, Jan 7- Walt Disney Co, which reported record earnings in November, started an internal cost cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.
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NEW YORK, Jan 3- Planned layoffs at U.S. firms fell in December for the first time in four months, while the overall job-cut total in 2012 was the lowest since 1997, a report showed on Thursday.
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Planned layoffs at U.S. firms fell in December for the first time in four months, while the overall job-cut total in 2012 was the lowest since 1997, a report showed on Thursday.
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John Challenger, CEO of Challenger, Gray & Christmas, breaks down the "very strong" numbers on jobs.
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NEW YORK, Jan 3- Planned layoffs at U.S. firms fell in December for the first time in four months, while the overall job-cut total in 2012 was the lowest since 1997, a report showed on Thursday.
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*Unions have until Jan 31. to back restructuring plan. MADRID, Jan 2- Spanish airline Iberia said on Wednesday it has reached a preliminary agreement with pilots over plans to restructure the loss-making airline by laying off staff and cutting salaries.