Business Events Layoffs

  • *About 1,600 staff in Sweden have volunteered to leave. The company said in October it was cutting about a fifth of its Swedish workforce and hundreds of consultants as it grappled with shrinking markets and competition from China's Huawei and Finland's Nokia. The company announced a plan in October to shed 3,000 jobs in production, research and development...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Mylan, whose shares were down more than 3 percent in mid-afternoon trading, has been under investigation by the U.S. government, and its chief executive officer was called before Congress to testify on raising the price of a pair of EpiPens to more than $600 from $100 in 2008.. At Tuesday's market close, its shares had fallen 25 percent since August, when it first...

  • NEW LONDON, N.H.— Facing a projected operating loss of $2.6 million, New Hampshire's Colby-Sawyer College says it will "restructure" and lay off 18 employees. College President Sue Stuebner says seven faculty members and 11 staffers at the New London college received notice Monday. The Valley News reports Stuebner attributes the current year's operating loss...

  • Mylan has about 35,000 employees, the company's spokeswoman Nina Devlin said. The U.S. Senate Judiciary Committee in late November postponed a hearing planned on Mylan's $465 million settlement to resolve charges that it underpaid government healthcare programs by misclassifying its EpiPen treatment. Mylan has come under fire for raising the price of a...

  • Dec 7- Generic drugmaker Mylan NV said on Wednesday it may cut less than 10 percent of its global workforce as part of a restructuring program. Mylan has been under investigation and faced harsh criticism over steep price increases for its life-saving Epipen auto-injector, which is used for severe allergic reactions. The company said it would implement...

  • At that time the company also announced a cost-cutting plan that included lowering operating expenses in 2017 to about $350 million, compared with $450.9 million in 2015, and more than halving its 2017 capital budget to about $100 million. The company also forecast 2017 revenue, excluding certain items, of $2.10- $2.60 billion, well below analysts average...

  • Dec 7- SunPower Corp, the No. 2 U.S. solar panel maker, said on Wednesday it would lay off about 25 percent of its workforce, or 2,500 employees, and close one plant as part of a cost-cutting plan it announced last month. SunPower, majority owned by French energy giant Total SA, said it expects to incur restructuring charges of $225- $275 million through the end of 2017..

  • ORLANDO, Fla.— SeaWorld Entertainment Inc. is eliminating 320 jobs across its 12- park company. SeaWorld' s attendance and revenue have suffered in the face of a campaign by animal-rights activists. The company has parks in Florida, Texas, California, Pennsylvania and Virginia.

  • Dec 5- General Mills Inc, the maker of Cheerios cereal, said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer. As part of the new organizational structure, the company will be split into four business groups- North America retail, Europe& Australia, Asia& Latin...

  • SANTA FE, N.M.— New Mexico's grinding budget crisis is taking a toll in courtrooms where overburdened attorneys have denied legal counsel to poor defendants, at museums reeling from layoffs and admission hikes, and at state universities and colleges grappling with steep spending cuts. Employers across the state have shed thousands of jobs since October 2015,...

  • SAO PAULO, Dec 1- Odebrecht SA, the engineering conglomerate that on Thursday agreed to a $2 billion leniency deal with prosecutors in Brazil's biggest graft case, is making progress selling assets and restructuring some businesses as part of a broad overhaul. In a statement, the company pledged not the engage ever again in improper business practices.

  • Layoffs fall to lowest level of 2016

    The Challenger report shows the level of layoffs announced by employers now hover close to a 16-year bottom.

  • *Weekly jobless claims increase 17,000. WASHINGTON, Dec 1- The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level in five months, but the underlying trend remained consistent with a healthy labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted...

  • A man tries out a new GoPro HERO5 Black during a press event last September.

    Despite strong holiday weekend sales GoPro announced a restructuring, including cutting 15% of jobs and closing its entertainment unit.

  • Nov 30- GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business. The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter. GoPro's shares were up 2.7 percent at $10.10 in premarket trading.

  • Airbus Group, parent of the plane maker, faces months of negotiations with unions after presenting a reorganization plan to the works council Tuesday in Toulouse, France. The cuts will be spread across four countries, with 640 jobs cut in France, 429 in Germany, 54 in Britain and 39 in Spain, Airbus spokesman Jacques Rocca said. Airbus Group CEO Tom Enders stressed...

  • ALITALIA CONSIDERS 700-2,000 JOB CUTS IN LATEST OVERHAUL OF LOSS-MAKING AIRLINE, NO FINAL DECISION TAKEN- SOURCES.

  • BUENOS AIRES, Nov 23- Argentine business leaders agreed on Wednesday not to lay off workers without justifiable cause until March 2017, after unemployment rose amid a prolonged recession. They signed an agreement with Argentina's largest umbrella union after a meeting that was mediated by the federal government, which has been betting on the arrival of...