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Layoffs

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  • 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...

  • BlackBerry cuts jobs as part of turnaround plan Tuesday, 21 Jul 2015 | 12:34 PM ET

    TORONTO— BlackBerry Ltd. announced another round of job cuts Tuesday as it deals with weak smartphone sales and pushes ahead with a restructuring plan. The Waterloo, Ontario- based company declined to disclose how many employees were affected in the latest changes, but said that some workers were shifted to different roles while others were laid off.

  • 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...

  • MSFT shutting down jobs Wednesday, 8 Jul 2015 | 10:00 AM ET
    MSFT shutting down jobs

    Microsoft announces the layoff of up to 7800 workers, and will take a $7.6 billion impairment charge related to the acquisition of Nokia.

  • UPDATE 1-Microsoft plans major job cuts - NYT Wednesday, 8 Jul 2015 | 3:20 AM ET

    July 8- Microsoft Corp, the world's largest software company, plans to announce a new round of layoffs as early as Wednesday as it tries to cut costs further, the New York Times reported. The latest job cuts are in addition to the 18,000 jobs Microsoft said it planned to cut a year ago, the newspaper said, citing sources familiar with the matter. The layoffs are expected...

  • Microsoft plans major job cuts - NYT Wednesday, 8 Jul 2015 | 1:59 AM ET

    July 8- Microsoft Corp plans to announce a new round of layoffs as early as Wednesday to cut costs further, the New York Times reported. The latest job cuts are in addition to the 18,000 jobs that Microsoft said it planned to cut a year ago, the newspaper said, citing sources familiar with the matter. Reuters could not immediately reach Microsoft for comment outside...

  • SYDNEY, July 7- Australian chemical maker Orica Ltd said it would curb output and cut staff at a site in the state of Queensland, hit by faltering demand for explosives from the mining industry. Orica said it would lower production of ammonium nitrate as supply outstrips demand, while 10 percent of the 220 staff employed at the Yarwun site are expected to lose their...

  • July 6- Struggling teen clothing retailer American Apparel Inc launched a restructuring plan to cut costs but warned it may not be enough to meet funding requirements in the next 12 months. American Apparel said there could be no guarantee that even after the restructuring it would have sufficient funds in the next 12 months unless it raised additional...

  • *Glencore takeover risk rises as shares fall. LONDON, July 2- Anglo American is planning to cut between 5 and 20 percent of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. Anglo American declined to comment.

  • *Glencore takeover risk rises as shares fall. LONDON, July 2- Anglo American is planning to cut between 5 and 20 percent of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. Anglo American declined to comment.

  • ArcelorMittal Mexico unit to slash 2,800 jobs Wednesday, 1 Jul 2015 | 8:41 PM ET

    MONTERREY, July 1- ArcelorMittal, the world's largest producer of steel, will cut 2,800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs. Altos Hornos de Mexico, DeAcero and ArcelorMittal warned in the...