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  • Sept 1- Canada's Penn West Petroleum Ltd on Tuesday announced a number of measures, including a lower budget and job cuts, to chop costs and said it would only spend cash it earned from operations, a step that will shrink its growth prospects. ConocoPhillips also said on Tuesday it is laying off 400 employees and 100 contractors in Canada. Shares of the company, which...

  • Sept 1- Canada's Penn West Petroleum Ltd cut its 2015 capital budget for the third time this year, suspended its dividend and said it would lay off about 35 percent of its workforce as it copes with the slump in crude oil prices. Penn West had in March slashed its quarterly dividend to 1 Canadian cent per share from 14 Canadian cents. The Calgary, Alberta- based company...

  • Oil producer Penn West to cut jobs, suspend dividend Tuesday, 1 Sep 2015 | 6:12 AM ET

    Sept 1- Canadian oil and gas producer Penn West Petroleum Ltd said it would lay off about 35 percent of its workforce and suspended its dividend as it copes with a slump in crude oil prices.

  • SANTIAGO, Aug 31- A Chilean union that represents copper mine workers rejected a move by Freeport-McMoRan Inc to drastically cut staff at its El Abra mine and said on Monday it was considering action. Last week, Arizona- based Freeport, which owns a 51 percent stake in the mine in northern Chile, became one of the first big global miners to announce it was slashing...

  • SAN JUAN/ NEW YORK Aug 28- Puerto Rico's imminent fiscal reform plan will aim to persuade bondholders to restructure debt by showing the government is willing to share the burden. But some of the plan's expected reforms- such as cuts to teacher pensions and University of Puerto Rico subsidies- may be too politically unfeasible to coax bondholders to the table,...

  • WASHINGTON, Aug 27- U.S. lawmakers should work with the Department of Energy to restructure a project to convert excess U.S. weapons-grade plutonium into fuel for commercial nuclear reactors instead of abandoning it, former New Mexico Governor Bill Richardson said. Richardson told Senate Minority Leader Harry Reid in an Aug. 21 letter that switching to a...

  • Aug 27- Heavy machinery manufacturer Caterpillar Inc said it plans a new round of layoffs to cut costs as declining revenues from global mining and construction activities erodes its bottom line. Caterpillar has let go about 4,800 employees over the past year and has cut 20,000 full-time employees worldwide since 2012, more than 10 percent of its global...

  • Aug 27- Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would cut 10 percent of its U.S. mining workforce and lowered the amount it plans to spend on mining in 2016 by 25 percent to $2 billion as commodity prices continue to fall. The company, which operates seven open-pit copper mines in North America, plans to suspend mining at its Miami...

  • WASHINGTON— Fewer people sought U.S. unemployment benefits last week, evidence that employers remain confident in the economy and are laying off few workers. The Labor Department said Thursday that weekly applications for unemployment aid dropped 6,000 to a seasonally adjusted 271,000. The four-week average, a less volatile measure, ticked up 1,000 to...

  • Freeport-McMoran lowers 2016 mining capex, to cut jobs Thursday, 27 Aug 2015 | 8:20 AM ET

    Aug 27- Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would lower its capital budget for mining in 2016 by 25 percent, or $700 million, as commodity prices continue to weaken.

  • Rovio jobs on the chopping block Wednesday, 26 Aug 2015 | 8:00 AM ET
    Rovio jobs on the chopping block

    Maker of angry birds may have some (former) workers very angry indeed.

  • Angry Birds maker Rovio plans layoffs in restructuring Wednesday, 26 Aug 2015 | 7:52 AM ET

    HELSINKI— Popular mobile game maker Rovio Entertainment says it plans to restructure its business and lay off up to 260 people because the company took on "too many things" during the past few years. The layoffs will affect the whole organization, excluding teams working on the Angry Birds Movie in the United States and Canada, expected for release in May 2016.

  • La Salle University lays off 3 percent of workforce Wednesday, 26 Aug 2015 | 6:31 AM ET

    PHILADELPHIA— La Salle University's new president has announced the Philadelphia school has laid off 23 employees just two months into her tenure. Colleen Hanycz says she knew La Salle needed to make some changes but the cuts weren't something she anticipated. The Philadelphia Inquirer reports a $12 million deficit and a declining freshman enrollment is to...

  • Boeing prepares for layoffs Tuesday, 25 Aug 2015 | 6:00 AM ET
    Boeing prepares for layoffs

    Boeing workers brace for layoffs in the satellite business.

  • WASHINGTON, Aug 24- Boeing Co on Monday told its workers that it expected to cut as many as "several hundred" jobs in its satellite business through the end of 2015 due to a downturn in U.S. military spending and delays in commercial orders. Multiple commercial orders were being delayed by recent failures of launch vehicles and uncertainties about the future...

  • HAVANA, Aug 24- Austerity measures and the restructuring of Cuba's Soviet-style economy have reduced spending on research and development by close to 50 percent over the last five years, according to a government report released last week. President Raul Castro's government has imposed strict austerity measures since he replaced his ailing brother Fidel...

  • Layoffs on the way for Lenovo Thursday, 13 Aug 2015 | 8:00 AM ET
    Layoffs on the way for Lenovo

    Lenovo announces 3200 layoffs after Motorola unit tanks.

  • Kraft Heinz slashes jobs Wednesday, 12 Aug 2015 | 10:00 AM ET
    Kraft Heinz slashes jobs

    Kraft Heinz laying off 2,500 employees.

  • UPDATE 1-Kraft Heinz to cut 2,500 jobs in U.S. and Canada Wednesday, 12 Aug 2015 | 9:48 AM ET

    Aug 12- Kraft Heinz Co said it will eliminate 2,500 jobs in the United States and Canada, including about 700 at its headquarters in Northfield, Illinois. Kraft Heinz currently has about 46,000 employees, including about 1,900 at the company's headquarters, spokesman Michael Mullen in an emailed statement to Reuters on Wednesday. The combined Kraft Heinz has...

  • Kraft Heinz to cut 2,500 jobs in US, Canada Wednesday, 12 Aug 2015 | 8:55 AM ET
    Kraft Macaroni & Cheese and Heinz Tomato Ketchup

    Kraft Heinz said it will cut 2,500 jobs in the U.S. and Canada following the creation of the company through the merger of Heinz and Kraft.