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  • NEW YORK— Target Corp. is cutting several thousand jobs as part of a plan to eliminate $2 billion in costs over the next two years. Target also plans to invest between $2 billion and $2.2 billion in capital expenditures for the current fiscal year. We have to create a more innovative culture, " Brian Cornell, Target's CEO told analysts Tuesday at a meeting in New York...

  • The governor's office is hoping about 4,500 workers will opt for early retirement, saving the state about $178 million, according to Kristen Lepore, secretary of Administration and Finance. The Massachusetts Taxpayers Foundation, a budget watchdog group, has said that a gap of about $1.5 billion likely exists between anticipated revenues and the spending...

  • BEIJING, March 2- China's slowing economy will be at the forefront as parliament convenes for its annual meeting this week, with a weekend interest rate cut a reminder of the challenge of balancing painful restructuring with combating the onset of deflation. Senior leaders at the National People's Congress, which opens on Thursday, will send an unambiguous...

  • SINGAPORE, March 2- Malaysia Airlines is re-negotiating contracts, reviewing its fleet and routes, and identifying almost a third of staff to lay off as part of a state-led restructuring programme, owner Khazanah Nasional Bhd said on Monday. The sovereign wealth fund's update on Malaysian Airline System Bhd is the first since it took the carrier private in...

  • SAO JOSE DOS CAMPOS, Brazil, Feb 26- Workers at a General Motors Co car factory in Brazil ended a six-day strike on Thursday after the company dropped plans to lay off 800 employees, the union said, ending the latest labor standoff in the troubled Brazilian auto industry. The re-elected leadership, which also organized a strike against planemaker Embraer SA last...

  • *GM to stop car manufacturing in Indonesia. BEIJING, Feb 26- General Motors will stop making GM-branded cars in Indonesia, a battleground for global automakers, closing an assembly plant, axing some 500 jobs and shifting its focus to sport utility vehicles. The retreat also comes as GM drives into Indonesia with its Chinese partner, SAIC Motor Corp..

  • Strike ends at General Motors plant in Brazil Thursday, 26 Feb 2015 | 10:42 AM ET

    SAO JOSE DOS CAMPOS, Brazil, Feb 26- Workers at General Motors Co's Brazilian car factory ended a six-day strike on Thursday after the company agreed to drop plans to lay off 800 employees, the union said. Stoppage days will not be deducted from wages and the company vowed not to retaliate against workers who walked off the job in the longest strike GM has faced in...

  • *Zimbabwe expansion on hold over tax. JOHANNESBURG, Feb 26- South Africa's Impala Platinum will revamp its Rustenburg mines to boost productivity, but staffing levels will stay the same at the centre of often violent labour unrest, its chief executive said on Thursday. Any move to cut jobs would almost certainly provoke resistance from the Association of...

  • TRENTON, N.J.— New Jersey Gov. Chris Christie, who is considering a run for president in 2016, on Tuesday proposed a massive restructuring of the public employees' pension system as he unveiled a $33.8 billion state budget proposal for the upcoming fiscal year. We get it done, "Christie told the Democrat-controlled state Legislature during a speech in which he...

  • Workers at GM plant in Brazil go on strike Friday, 20 Feb 2015 | 8:51 AM ET

    SAO PAULO— An assembly line at one of three General Motors plants in Brazil has ground to a halt as workers strike to protest the planned layoffs of nearly 800 employees. The Metalworkers Union in Sao Jose dos Campos says that 5,200 workers went on strike Friday morning, stopping the daily production of 300 Chevrolet Trailblazers and S10 pickup trucks.

  • Feb 17- Oilfield services giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have nearly halved since June. In January, crude prices fell to their lowest in more than five years, hurt by a global supply glut and OPEC's refusal to curtail...

  • Feb 17- Walter Energy Inc forecast a 10 percent drop in sales volume of steel-making coal for 2015 due to sluggish Chinese and European demand, sending its shares down as much as 11 percent. Walter had said in April it would stop production at its Wolverine and Willow Creek mines in British Columbia and temporarily lay off about 700 employees.

  • TORONTO, Feb 17- Restaurant Brands International is not planning further corporate job cuts at its Tim Hortons unit, its chief executive officer said on Tuesday. "We executed our organizational restructuring up front, which really focused on back office, corporate areas where we said we'd see overlap in the business," said CEO Daniel Schwartz.

  • *Telkom shuts retail stores, begins lay-offs. JOHANNESBURG, Feb 16- South Africa's biggest landline provider Telkom SA said on Monday it was laying off an unspecified number of staff, denying union claims that it may slash as many as 55 percent of its 18,000- strong workforce in a major restructuring. Telkom, in which the government owns a stake of about 40 percent,...

  • LONDON, Feb 13- "This is the really crappy part of the job, and this is what I hate about this industry frankly," the chief executive of oilfield services company Baker Hughes complained as he announced it would lay off 7,000 employees. Baker Hughes is cutting jobs in response to slumping prices and a downturn in drilling activity. Halliburton announced it will cut...

  • Iraqis must be patient on economy, prime minister says Thursday, 12 Feb 2015 | 9:36 AM ET

    BAGHDAD, Feb 12- Iraq's prime minister called on Thursday for "patience" while the government implements economic reforms that include restructuring of many state-owned companies, saying the plan would deliver growth and development. Haider al-Abadi, who took office in September after Islamic State militants seized control of large parts of north and west...

  • PARIS/ LONDON, Feb 12- Total will cut capacity and jobs at its Lindsey refinery in Britain, the French oil major said on Thursday, as the group adapts to weak demand for fuel in Europe and rising competition from overseas. European refiners have been struggling with overcapacity as the region's petrol and diesel consumption has declined over the past decade, while...

  • PARIS, Feb 12- French energy company Total will cut investment and jobs this year and accelerate its asset sales programme after taking a $6.5 billion writedown in the fourth quarter because of weak oil prices. Like many of its oil producing rivals, the Paris- based firm was forced to write down the value of North American oil sands and shale assets as well as...

  • Target hit by layoffs as Canada winds down Wednesday, 11 Feb 2015 | 11:56 AM ET
    Customers arrive at a Target store in St. Albert, Alberta, January 15, 2015.

    Target plans to lay off about 720 people as the retailer winds down its operations in Canada.

  • LONDON, Feb 11- Reckitt Benckiser Group's new cost-saving plan will include some job cuts, its chief executive told reporters on Wednesday, though he declined to say how many. Chief Executive Rakesh Kapoor said the program will look at everything from how employees travel and communicate to how they buy stationary. Reckitt will combine operations in Russia and...