GO
Loading...

Enter multiple symbols separated by commas

Business Events Layoffs

More

  • United Taconite workers could be off the job 6 months Thursday, 30 Jul 2015 | 7:07 AM ET

    EVELETH, Minn.— More than 400 United Taconite employees on Minnesota's Iron Range are expected to be off the job for up to six months. Lower prices in an oversupplied steel market are blamed for the temporary layoffs in Eveleth and Forbes. The Star Tribune reports hundreds of workers remain on layoff at three other mining operations in Minnesota.

  • Shell to cut jobs to cope with long period of cheap oil Thursday, 30 Jul 2015 | 2:52 AM ET

    LONDON— Royal Dutch Shell announced deep cuts to jobs and investment on Thursday as the global energy giant prepares for a prolonged period of low oil prices. Brent crude, a benchmark for North Sea oil, averaged about $62 a barrel during the period, down from $110 in the second quarter of 2014.. Shell plans to bolster earnings through the $70 billion acquisition of...

  • LONDON, July 30- Royal Dutch Shell on Thursday reported a 37 percent drop in second quarter profits and said it would cut 6,500 jobs this year and reduce spending further to deal with an extended period of lower oil prices. The Anglo-Dutch oil and gas company also said it was planning more asset disposals alongside its proposed $70 billion acquisition of BG Group,...

  • July 29- Kinross Gold Corp is again considering cutting jobs at its Tasiast gold mine in Mauritania, Chief Executive Officer Paul Rollinson said on Wednesday, as the Canadian miner looks for ways to reduce costs at its higher-cost mines amid sliding metals prices. High costs have dogged Tasiast since its purchase as part of Kinross' $7.1 billion takeover of...

  • Deep cuts for Chevron Wednesday, 29 Jul 2015 | 6:00 AM ET
    Deep cuts for Chevron

    Chevron plans to slash 1,500 jobs to offset slumping crude oil prices.

  • SAO PAULO, July 28- GPA SA posted a quarterly loss on Tuesday as weak sales, stubborn cost inflation and rising interest rates hammered Brazil's biggest retailer. Earlier in the day GPA's appliance unit, Via Varejo SA, said it was closing stores and eyeing acquisitions in response to a 21.8 percent plunge in sales. The group reported that its workforce had dropped...

  • July 28- Chevron Corp, the second-largest U.S. oil company, said on Tuesday it would lay off 1,500 employees, about 2 percent of its global work force, as it trims costs to offset declining crude prices. Nearly all of the layoffs will be in Texas, where the company has expanded in recent years to develop land in the Permian shale formation, and California, where Chevron...

  • July 24- Oilfield 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 fallen more than 40 percent since June last year. Houston- based Schlumberger also said in April that it plans to cut another 11,000 jobs, bringing the total job...

  • July 24- Encana Corp, Canada's No.1 natural gas producer, said it had laid off about 200 employees this month, joining a growing list of oil producers cutting jobs to cope with a steep fall in crude prices. Encana's shares fell 10 percent to a 13- year low of C $10.10 after the company reported a bigger-than-expected quarterly loss due to weak production.

  • RIO DE JANEIRO, July 24- Brazilian oil workers began a 24- hour strike on Friday in an effort to stop moves to shrink state-run oil company Petroleo Brasileiro SA, or Petrobras, according to the main union representing the workers. FUP also opposes a bill before Brazil's Senate seeking to strip Petrobras of its right to run all new development work in a giant...

  • CHESTER HILL, Pa.— A Canadian company that provides natural gas drillers with hydraulic fracturing and other services has laid off 60 workers at its central Pennsylvania operation. The Centre Daily Times reports the layoffs leave Calfrac Well Services with about 10 employees who will maintain its equipment, facility and to support the company's sales.

  • Qualcomm to cut 15 percent of workforce Wednesday, 22 Jul 2015 | 4:50 PM ET

    Qualcomm says it will cut jobs, update its board and review its business structure as part of an effort to improve its performance. Qualcomm said Wednesday that it plans to slash its spending by $1.4 billion. Qualcomm Inc. also said Wednesday that its net income fell 47 percent to $1.18 billion, or 73 cents per share, for its most recent quarter.

  • UPDATE 1-Qualcomm says may split itself, cut jobs Wednesday, 22 Jul 2015 | 4:44 PM ET

    Qualcomm's shares fell about 1 percent at $63.50 in after-market trading on Wednesday. The chipmaker, which has about 30,000 employees worldwide, also said it had agreed with Jana Partners to add two of the hedge fund's nominees to Qualcomm's board. Qualcomm, which makes software and chips used in smartphones, tablets and gaming devices, is known for its...

  • July 21- Printer maker Lexmark International Inc said it would cut jobs to offset costs resulting from recent acquisitions as part of efforts to focus on software and services. Lexmark and larger rivals such as Hewlett-Packard Co and Xerox Corp are pushing into high-value software and services business as companies reduce printing to cut costs and...

  • July 21- Printer maker Lexmark International Inc forecast third-quarter profit well below Wall Street's estimates and said it would cut about 500 jobs as it absorbs recently acquired businesses. Lexmark said the restructuring is expected to generate $2 million savings in 2015 and annualized savings of $65 million beginning in 2017..

  • Qualcomm may consider breakup - WSJ Monday, 20 Jul 2015 | 8:09 PM ET

    July 20- Qualcomm Inc is expected to conduct a strategic review that may result in the breakup of the company, among other options, the Wall Street Journal reported on Monday citing sources. The news comes after reports earlier on Monday that Qualcomm is preparing to lay off several thousand employees. Qualcomm could not be immediately reached for comment...

  • Qualcomm, which reported a 46 percent drop in second-quarter profit in April, is facing increasing competition from Taiwan's MediaTek Inc and a handful of small Chinese companies that specialize in making chips for low-priced phones. Qualcomm could shift more research and development activities to low-cost countries such as India for further cost...

  • UPDATE 1-Coal miner Walter Energy files for bankruptcy Wednesday, 15 Jul 2015 | 12:44 PM ET

    July 15- Walter Energy Inc filed for bankruptcy protection on Wednesday, becoming the latest coal miner to do so as they struggle with a steep fall in prices since 2011.. Walter Energy, which has coal mines in Alabama and West Virginia, said terms of the restructuring assume senior lenders will convert all of their debt into equity. Walter Energy had total debt of...

  • NEW YORK, July 13- Puerto Rico pleaded with creditors on Monday not to engage in lengthy litigation over its $72 billion debt, but provided little information about how a debt restructuring would affect them. Some top bondholders have already taken Puerto Rico to court over a restructuring law passed last summer which would have affected the island's public...

  • TRENTON, N.D., July 10- One of the largest facilities in North Dakota that loads oil onto railcars laid off 10 percent of its staff this week as it pares operations in an environment of lower oil prices, a source familiar with the company's operations said. Savage Services Corp laid off 12 full-time employees at its 373- acre transloading and pipe logistics...