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Business Events Layoffs

  • FRANKFURT, Germany— Deutsche Bank's net profit rebounded to 466 million euros in the second quarter from a mere 20 million euros a year earlier as the bank presses on with a difficult long-term restructuring, the company said Thursday. CEO John Cryan said the bank was making progress in cutting costs and increasing profitability. The bank incurred lower costs...

  • DALLAS— Several hundred workers who maintain American Airlines planes picketed Wednesday at the carrier's home airport, calling for higher pay and an end to shifting maintenance work overseas. Helped by a bankruptcy restructuring, less competition, lower fuel prices and new leadership, American Airlines Group Inc. earned $2.7 billion last year.

  • Sales in North America, Hershey's largest market, rose 2.2 percent to $1.47 billion in the second quarter ended July 2. The company, in February, said it would cut its global workforce by about 15 percent under its new Chief Executive Michele Buck as part of a restructuring program to build recovery in demand in North America. Hershey's net income rose to $203.5...

  • Incoming White House Communications Director Anthony Scaramucci talks with reporters during 'Regional Media Day' at the White House July 25, 2017 in Washington, DC.

    Assistant Press Secretary Michael Short resigned Tuesday.

  • GRM Document Management CEO Avner Schneur

    To update GRM Document Management's paper-only storage system to the 21st Century, CEO Avner Schneur decided to go digital.

  • TEL AVIV, July 23- Teva Pharmaceutical Industries said on Sunday it would lay off some of its 7,000 employees in Israel in the coming months as it reorganises in a drive to improve competitiveness. Teva employs 4,000 workers in production in Israel. Teva's acting chief executive, Yitzhak Peterburg, said the company was committed to do all it can to guarantee that...

  • JAKARTA/ TORONTO, July 21- An estimated 5,000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan Inc's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labor issue comes as Freeport, the world's largest publicly traded copper...

  • July 21- Endo International Plc said on Friday it would shutter its manufacturing and distribution facilities in Huntsville, Alabama, resulting in a workforce reduction of about 18 percent. The drugmaker, which employed 4,894 people as of Feb. 21, said it would layoff 875 employees and incur a pretax charge of about $325 million. Earlier in July, Endo agreed to...

  • INDIANAPOLIS— More than 300 Carrier Corp. workers were being laid off Thursday from the company's Indianapolis factory as part of an outsourcing of jobs to Mexico that drew criticism last year from then-presidential candidate Donald Trump. Carrier announced in February 2016 that it would close the Indianapolis plant and cut about 1,400 production jobs in...

  • LIMA, Peru— Union workers at more than 50 mines in Peru have gone on strike to protest parts of a labor reform that they say will harm workers' rights. Ricardo Juarez is leader of a national federation of miners. Juarez argued that laws approved by President Pedro Pablo Kuczynski would make it easier for mass layoffs and weaken inspection bodies.

  • ORION TOWNSHIP, Mich./ DETROIT, July 17- General Motors Co has extended a shutdown at the Michigan factory that builds the new Chevrolet Bolt electric car as part of a broader effort to get control of bulging inventories of unsold vehicles in the United States. GM's vehicle inventory in the United States hit a 10- year high in June at 105 days supply.

  • ORION TOWNSHIP, Mich./ DETROIT, July 17- General Motors Co has extended a shutdown at the Michigan factory that builds the new Chevrolet Bolt electric car as part of a broader effort to get control of bulging inventories of unsold vehicles in the United States. GM's vehicle inventory in the United States hit a 10- year high in June at 105 days supply.

  • SANTIAGO, July 12- Chilean copper mine Collahuasi, a joint venture of Anglo American and Glencore, said on Wednesday it will cut 115 jobs, including executives, as part of a plan to boost efficiency amid low prices for the metal. Collahuasi, one of the world's largest copper mines, said in a statement that its staff had been structured when the mine was planning an...

  • LONDON/ BENGALURU, July 11- India's Tata Steel said on Tuesday it had agreed to sell its pipe mills in the north of England to UK- based metals and industrial group Liberty House for an undisclosed sum. "With this sale, Tata Steel UK will complete its portfolio restructuring to focus on the strip products supply chain linked to Port Talbot," said Bimlendra Jha, CEO of...

  • July 6- Sears Canada Inc on Thursday sought court approval for its restructuring efforts, two weeks after the Canadian retailer filed for creditor protection. The company set Oct. 4 as the deadline to obtain court approval of successful bids, while the company's sale and investment solicitation process has an expected completion date of Oct. 25.

  • Businessman silhouette, in the shadows

    The number of planned layoffs at U.S. firms fell in June to its lowest level of the year.

  • SAN FRANCISCO, July 3- Microsoft will undergo a reorganization that will impact its sales and marketing teams, company executives told employees on Monday. The re-shuffling will impact those under Microsoft Chief Marketing Officer Chris Capossela, Executive Vice Presidents Judson Althoff and Jean-Philippe Courtois, all of whom sent messages to their...

  • Microsoft is preparing to lay off thousands of employees, according to report

    Microsoft is ready to lay off thousands of employees according to a report.

  • BEIJING, June 30- China needs to "eliminate barriers" to foreign investment and create jobs to spur growth in the country, the world's second-largest economy, Premier Li Keqiang said. "This year China's foreign investment has seen negative growth, this is something we need to closely monitor," Li said, in comments carried on the website of China's cabinet, known as the...

  • HENNIGSDORF, Germany, June 29- Canada's Bombardier will slash up to 2,200 jobs in Germany by 2020 as part of a sweeping savings plan but will not shut any of its five plants there, Bombardier Transportation's supervisory board Chairman Wolfgang Toelsner said. Most of the cuts will be at the loss-making train-making division's plants in Hennigsdorf near Berlin...