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Business Events Layoffs

  • March 29- Amazon.com Inc plans to cut 263 jobs at its money-losing parenting products unit Quidsi this summer as part of a business restructuring, it said in a notice filed with New Jersey on Wednesday. The New Jersey- based subsidiary operates Diapers.com, Soap.com and other websites. Amazon's stock briefly hit a record high of $876.44 before closing at $874.32.

  • March 29- Amazon.com Inc plans mass layoffs at its money-losing parenting products subsidiary Quidsi as part of a business restructuring, the company said in a document filed with the state of New Jersey on Wednesday. The e-commerce giant plans to terminate 263 employees in New Jersey this summer, according to a notice filed with the state's Department of...

  • STOCKHOLM, March 28- An attempt by Ericsson's new chief executive to lay out his strategy for the Swedish telecoms equipment maker backfired on Tuesday when it exposed problems related to some of its main contracts. Chief Executive Borje Ekholm, who took charge only in January, announced up to $1.7 billion in provisions, writedowns and restructuring costs to be...

  • PITTSBURGH— Kraft Heinz Co. has laid off 200 white-collar workers in Canada and the United States. Michael Mullen, the company's senior vice president of corporate and government affairs,, says the company is realigning its administrative functions to be more efficient. Kraft Heinz is dually headquartered in Pittsburgh and Chicago since the Pittsburgh-...

  • JERUSALEM, March 23- Teva Pharmaceutical Industries' plans to end unprofitable activities and freeze recruitment, but said Israeli media reports of up to 6,000 layoffs were incorrect. Earlier on Thursday, two of Israel's leading financial news websites carried separate reports that Teva, the world's biggest generic drug maker and Israel's largest company,...

  • CALGARY, Alberta, March 22- Canada's Enbridge Inc said on Wednesday it would cut about 1,000 positions, or 6 percent of its work force, after buying Spectra Energy Corp of Houston, the first layoffs for the combined energy infrastructure company, the biggest in North America. The takeover announced last year, the most significant energy deal since oil and natural...

  • CALGARY, Alberta— Enbridge Inc. says it is cutting about 1,000 jobs or 6 percent of its workforce following the takeover of Houston- based Spectra Energy. The Calgary, Alberta- based Enbridge said Wednesday it is laying off people to address overlaps in the combined company's organizational structure after acquiring Spectra late last month.

  • INDIANAPOLIS— About 1,500 workers at three Indiana factories are facing layoffs despite hopes that President Donald Trump would convince the companies to reverse plans for moving production to Mexico. Layoffs could start within a month at a 350- worker Rexnord industrial bearings factory in Indianapolis, according to United Steelworkers Local 1999...

  • *Unions call strike for April 5 to protest against cuts. MILAN, March 17- Alitalia's new restructuring plan envisages cutting 16 percent of its workforce and reducing flight personnel's salaries by up to a third in a last-ditch attempt to make the troubled Italian airline profitable, labor officials said on Friday. Unions, however, called a 24- hour strike for...

  • MILAN— Unions representing Alitalia workers announced an April 5 strike to protest job and salary cuts that are part of the company's plans to relaunch the struggling airline. Nino Cortorillo of the Filt-Cigl union came out of a meeting Friday with management at Rome's Fiumicino Airport saying workers would strike to protest plans to lay off more than 2,000...

  • GM said last week it planned to lay off 1,100 workers in May at its Lansing Delta Township assembly plant in Michigan. GM also said it would add 220 jobs at a plant in Romulus, Michigan, that is building 10- speed automatic transmissions, and it would retain 180 jobs by shifting Lansing workers to a Flint assembly plant to support pickup truck production.

  • GM said last week it planned to lay off 1,100 workers in May at its Lansing Delta Township assembly plant in Michigan. GM also said it would add 220 jobs at a plant in Romulus, Michigan, that is building 10- speed automatic transmissions, and it would retain 180 jobs by shifting Lansing workers to a Flint assembly plant to support pickup truck production.

  • WASHINGTON, March 15- General Motors Co plans next year to rehire 500 workers at a Michigan assembly plant who are to be laid off in May, citing increased demand for larger vehicles, the company said on Wednesday. GM said last week it planned to lay off 1,100 workers in May at its Lansing Delta Township assembly plant in Michigan. The company is moving production of...

  • NEW YORK/ FRANKFURT, March 14- Deutsche Bank is replacing its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick, people close to the matter said, in a sign of its intent to restructure its Wall Street business. The bank announced earlier this month that Chief Executive John Cryan would personally oversee the bank's U.S....

  • The plan, a cornerstone of the federal Puerto Rico rescue law known as PROMESA, will serve as the baseline for looming restructuring talks with holders of some $70 billion in debt that has pushed the U.S. territory to the brink of economic collapse. The latest version rolled back those numbers, boosting the island's 10- year projected funding gap to $67 billion...

  • March 13- Alexion Pharmaceuticals Inc said on Monday it has initiated a company-wide restructuring that will affect about 7 percent of its workforce. The rare-disease drug maker, which has been looking to steady the ship following the exit of its top management, had 3,121 employees as of Dec. 31. Alexion's chief executive and chief financial officer resigned in...

  • SANTIAGO, March 9- SunPower Corp has put a large solar plant in Chile up for sale, according to two sources with knowledge of process, as the second largest U.S. solar panel maker seeks to cut costs across the globe. It was not clear how much equity SunPower had invested in the project, though solar projects in Chile typically require a 30-45 percent equity stake.

  • WASHINGTON, March 9- The number of Americans filing for unemployment benefits last week rebounded from a near 44- year low, but the labor market continues to tighten amid a sharp drop in job cuts in February. Initial claims for state unemployment benefits rose 20,000 to a seasonally adjusted 243,000 for the week ended March 4, the Labor Department said on...

  • WASHINGTON, March 9- The number of Americans filing for unemployment benefits last week rebounded from a near 44- year low, but the labor market continues to tighten amid a sharp drop in job cuts in February. Initial claims for state unemployment benefits rose 20,000 to a seasonally adjusted 243,000 for the week ended March 4, the Labor Department said on...

  • March 9- Wells Fargo& Co has taken further steps to restructure its retail banking business, demoting some senior executives within the bank, the Wall Street Journal reported on Thursday, citing employees and memos. Mary Mack, who took over the retail banking unit in July, wrote in a memo on Tuesday that she was reorganizing groups within the business to expand its...