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  • HOUSTON, May 24- Marathon Petroleum Corp on Tuesday laid off 46 salaried employees at the company's Galveston Bay Refinery in Texas City, Texas, the company said. "This reduction is one element of a cost savings strategy that will better position the refinery to be competitive well into the future," Marathon spokesman Chuck Rice said in a statement.

  • HOUSTON, May 24- Marathon Petroleum Corp on Tuesday laid off 46 salaried employees at the company's Galveston Bay Refinery in Texas City, Texas, according to an internal memo seen by Reuters.

  • BEIJING, May 24- China's Premier Li Keqiang said that reducing excess capacity in industry remains the key task in carrying out supply-side reform. China will ensure that workers whose jobs will be affected by restructuring in those sectors will not be left unemployed, he added. China has vowed to tackle price-sapping supply gluts in major industrial sectors,...

  • STOCKHOLM— Swedish media group Stampen says it's filing to restructure the company after struggling with debt. CEO Martin Alsander says the newspaper publisher is "moving in the right direction," but that debt remains excessive with insufficient cash flow so that it's unable to fulfill all "its financial obligations." Stampen publishes six dailies and eight...

  • ABU DHABI, May 22- Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates, Saudi Arabia, Qatar and other countries in the region have curbed spending on some construction...

  • SAN JUAN, Puerto Rico— After months of pleading from Puerto Rico's government, the U.S. Congress has agreed to help the territory restructure its massive public debt. But they stoked some anger Thursday in Puerto Rico, where people have endured a decade of a steadily worsening economy and many resent the uneven relationship with the U.S. mainland.

  • BUENOS AIRES, Argentina— Argentina's House of Deputies has given final congressional approval to a bill that would ban layoffs in the public and private sectors. The measure already passed in the Senate. It comes in defiance of President Mauricio Macri's attempt to cut bloated spending and jumpstart Argentina's economy through job cuts.

  • BUENOS AIRES, May 18- Argentina's opposition-controlled lower chamber of Congress on Thursday passed a bill to prevent layoffs in the public and private sectors, challenging the center-right government's efforts to cut a gaping fiscal deficit and spur investment in the battered economy. President Mauricio Macri, who took power in December on a...

  • RIYADH/ DUBAI, May 18- Construction firm Saudi Binladin Group has secured a 2.5 billion riyal loan from local banks to ease its financial pressures, banking sources aware of the matter said on Wednesday. Arab National Bank and Saudi British Bank are providing the loan, which Binladin is using to cover redundancy costs for workers it is laying off, back salaries and...

  • May 17- Job cuts and constrained hiring are expected to continue on Wall Street in 2016, with bonuses likely to be lower than in 2015 due to difficult market conditions, according to a study by compensation consultant Johnson Associates. The forecast for 2016 follows a year in which Wall Street added jobs for the first time in five years and the bonus pool...

  • LIVERPOOL, Pa.— A modular homes company has filed for bankruptcy and is closing its plant in central Pennsylvania, idling 280 workers. The Daily Item says Excel Homes decision to file Chapter 7 bankruptcy is forcing it to close plants in Maine, New York, Virginia as well as the plant in Liverpool, about 25 miles north of Harrisburg. The layoffs were effective May 13.

  • HARTFORD, Conn.— The Connecticut judicial branch is revealing details about which types of employees are receiving layoff notices. The latest round of 113 layoff notices was originally announced May 5. The final number will be determined once officials review the $19.7 billion state budget bill that cleared the General Assembly last week.

  • HSBC cutting 850 jobs in Britain

    Europe's largest bank aims to cut a total of 8-thousand jobs in Britain by the end of 2017 as part of its restructuring efforts.

  • *Jobs transferred from UK to cut costs. LONDON, May 16- HSBC, Europe's largest bank, started laying off 840 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year. "As part of a global relocation exercise, around 840 non-customer-facing IT...

  • LONDON, May 16- HSBC, Europe's largest bank, were to begin laying off 850 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year. The employees are based in London, Sheffield, Leeds and Birmingham and all the jobs will disappear by the end of...

  • ABU DHABI, May 15- Abu Dhabi's state-owned National Oil Co plans to cut 5,000 jobs by the end of the year, and 2,000 of the lay-offs have already been carried out, Middle East news service MEED reported on Sunday. Many companies in Abu Dhabi and elsewhere in the Gulf are trying to cut costs as low oil prices slow economic growth and pressure state finances.

  • *Maybe 3,000 layoffs in Japan, more elsewhere- source. TOKYO/ TAIPEI, May 12- Foxconn founder Terry Gou said there would have to be layoffs at Sharp Corp to turn around the ailing Japanese company, but pledged that wages would rise and profit-sharing would again be the norm. Taiwan's Foxconn, the world's largest contract electronics manufacturer, has battled to seal...

  • BRASILIA, May 12- Brazilian telecoms group Oi SA reported a net loss on Thursday due to competitive pressures against the backdrop of the country's economic downturn, plus the cost of a big debt burden that the company is trying to restructure. Revenue fell 4 percent as Brazil's worst recession in decades squeezed consumer spending on communications services,...

  • BRASILIA, May 11- Brazil's retail sales fell more than expected in March as a surge in unemployment hurt supermarkets and food vendors, frustrating hopes that consumer spending was stabilizing after dropping sharply during the country's deep recession. Retail sales volumes excluding cars and building materials in Brazil fell 0.9 percent in March from...

  • WASHINGTON, May 10- U.S. job openings increased in March to the highest level in eight months and layoffs continued to decline, indicating the labor market remains fairly robust despite April's slowdown in employment gains. "The data generally remain upbeat and it does not look like there has been any material weakening in the health of the labor market lately,"...