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Business Events Layoffs

  • LONDON— Banking group Barclays said Thursday it will complete its restructuring plan six months early as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. They include retail banking in continental Europe and corporate banking in Africa and the Middle East, among others. Shares rose more than 4 percent in...

  • Jeff Brown, who owns six local ShopRite supermarkets, told The Philadelphia Inquirer he expects to cut 300 jobs. Bob Brockway, chief operating officer of Canada Dry Delaware Valley, has predicted a 20 percent workforce reduction by March. Mayor Jim Kenney pushed through the 1.5 cent- per-ounce tax on sweetened and diet beverages to pay for nearly 2,000...

  • MOORESVILLE, N.C.— Home improvement retailer Lowe's has announced its second round of layoffs in just over a month, saying more than 500 full-time corporate employees companywide will lose their jobs. Local news outlets report Lowe's announced Tuesday that 430 workers at its headquarters in Mooresville would be laid off. Meanwhile, the company said Lowe's...

  • OMAHA, Neb.— The top two CSX executives will retire this spring, and the railroad plans to lay off roughly 1,000 management employees next month. CSX Corp. announced both moves Tuesday as the railroad faces pressure from a hedge fund seeking to install the executive who led Canadian Pacific's turnaround, Hunter Harrison. CSX Chairman and CEO Michael Ward and...

  • HONG KONG/ LONDON, Feb 21- Annual profit at HSBC Holdings slumped 62 percent and fell far short of analysts' estimates as Europe's largest bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge the bank...

  • HONG KONG/ LONDON, Feb 21- HSBC Holdings reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring, sending its Hong Kong shares down 3.5 percent. The 2016 profit reflected a $3.2 billion impairment of goodwill in its global private banking business in Europe...

  • JAKARTA, Feb 20- Freeport McMoRan Inc's chief executive said on Monday the company's Indonesian unit has made its first lay-offs since a dispute over its mining contract started with the Indonesian government and may let go of more workers this week. Richard Adkerson told a news conference in Jakarta that about 10 percent of the expatriate workforce had been...

  • PARIS/ LONDON, Feb 18- The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are...

  • PARIS/ LONDON, Feb 18- The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are...

  • "These actions will produce about $20 million of annual savings relative to our 2016 exit operating expense run rate," Chief Executive Noah Breslow said in a statement on Thursday. The company's net loss attributable to shareholders widened to $35.9 million, or 50 cents per share, for the fourth quarter ended Dec. 31, compared with $4.6 million, or 7 cents per share, a...

  • Feb 16- Marketplace lender On Deck Capital Inc reported a wider loss for the fifth straight quarter and said it would reduce headcount by 11 percent. The company's net loss attributable to shareholders was $35.86 million, or 50 cents a share, for the fourth quarter ended Dec. 31, compared with $4.64 million, or 7 cents a share, a year earlier. Interest income rose about...

  • The company's net loss attributable to shareholders widened to $275.1 million, or $1.99 per share, in the fourth quarter ended Jan. 1, from $40.5 million, or 29 cents per share, a year earlier. SunPower said it recorded a $175.8 million charge related to restructuring expenses in the latest quarter, compared with $31.2 million a year earlier. The company, majority...

  • *Q4 loss 2.35 bln Sfr vs 2.01 bln Reuters poll estimate. ZURICH, Feb 14- Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no longer include floating the bank's Swiss business. The additional job cuts come after Switzerland's second-biggest bank...

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • Goldman Sachs

    Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy.

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • SAN FRANCISCO, Feb 9- Zenefits is laying off nearly half its staff as the software startup grapples with the fallout of insurance violations that resulted in hefty penalties from state regulators. Employees were alerted to the layoffs in a memo sent by Jay Fulcher, who started as the San Francisco- based company's CEO on Monday. Fulcher said Zenefits would move...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, as the firm's Indian owner Tata Steel Ltd's presses on with restructuring its European operations. The deal, which is subject to regulatory clearances, secures 1,700 jobs, mostly in South Yorkshire in the north of England, Britain's...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, part of Indian owner Tata Steel Ltd's drive to restructure its European operations. Today's news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK, "...

  • Twitter's net loss widened to $167.1 million, or 23 cents per share, in the fourth quarter ended Dec. 31, from $90.24 million, or 13 cents per share, a year earlier. Restructuring charges in the latest quarter ballooned to $101.2 million from $12.9 million a year earlier. Revenue rose 1 percent to $717 million.