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Business Events Layoffs

  • DETROIT, Oct 17- In a fresh sign of pressure on U.S. automakers, Ford Motor Co on Monday said it will shut down production of its best-selling F-150 pickup truck for a week at a Kansas City assembly plant, and temporarily idle three other plants over the next several weeks. Of the layoffs, about 4,000 will be in Mexico and about 9,000 in the United States.

  • Deutsche Bank weighs more job cuts

    The firm is considering slashing thousands of more positions to bring down costs.

  • LAGOS, Oct 14- Nigeria's central bank will sell two-month dollar forwards at an auction on Friday to clear a backlog of demand from airlines, manufacturers and other companies, traders and the ministry of transport said, as the country's currency crisis deepens. Dollar shortages have caused many firms to halt operations and lay off workers, compounding an...

  • FRANKFURT, Oct 14- Deutsche Bank's finance chief told staff representatives last month that job cuts at the bank could be double that planned, a step that could remove 10,000 further employees, a person with direct knowledge of the matter told Reuters. If 10,000 job losses were ultimately to follow the 9,000 announced by management in October 2015, roughly one in...

  • An employee selects a packaged HP desktop computer, produced by Hewlett-Packard Co., from a pallet in a warehouse.

    The company said on Thursday that it expects 3,000 to 4,000 employees to exit between fiscal 2017 and fiscal 2019.

  • MADRID, Oct 13- A centuries-old tapestry factory in Spain has come back from the brink of bankruptcy after an injection of public money, a debt restructuring plan and its biggest order in 200 years- a German commission for dozens of tapestries. The turnaround of the 296- year-old Royal Tapestry Factory in Madrid is a rare bright spot for Spanish companies facing...

  • ROME, Oct 12- BNP Paribas plans to cut 5 percent of the workforce at its BNL Italian business and close more than 10 percent of its branches there, two union sources said, as the French bank tries to return the division to profit. BNP Paribas is due to present a new three-year strategy early in 2017 for its main European markets of France, Italy, Belgium and Germany, where...

  • ROME, Oct 12- BNP Paribas plans to cut 5 percent of the workforce at its BNL Italian business and close more than 10 percent of its branches there, two union sources said, as the French bank tries to return the division to profit. BNP Paribas is due to present a new three-year strategy early in 2017 for its main European markets of France, Italy, Belgium and Germany, where...

  • LONDON, Oct 12- State-backed Lloyds Banking Group said on Wednesday it planned to axe 1,230 jobs as part of a three-year restructuring plan aimed at cutting costs and improving returns for shareholders. Lloyds announced in July it would cut a further 3,000 jobs and close 200 branches amid a more testing economic environment caused by Britain's vote to quit the...

  • But Fujitsu said in a statement that the job cuts, which amount to 18 percent of its UK workforce, were part of a transformation programme across its Europe, Middle East, India and Africa unit. "Fujitsu is committed to the UK and is confident in the continued growth of the UK economy." The job cuts, which the company said would make it more competitive, would affect...

  • Deutsche Bank announces 1000 job cuts

    The German lender hopes the change will make the group 'more competitive'.

  • Theranos to close wellness centers and clinical labs

    Elizabeth Holmes announced in an open letter to 'stakeholders' of the decision.

  • Man Wall Street

    Announced layoffs by U.S.-based companies rose in September to the highest level since July, according to Challenger.

  • STOCKHOLM, Oct 4- Ericsson is cutting about a fifth of its Swedish workforce and hundreds of consultants as demand for its network equipment shrinks and competition from China's Huawei and Finland's Nokia intensifies. Failure to offset waning demand for telecom equipment has caused Ericsson shares to lose a quarter of their value this year and politicians...

  • Ericsson to slash about 4k jobs

    The company plans to cut about 3-thousand jobs in production, operations and research and development as well as 9-hundred jobs in consulting.

  • An Ericsson AB employee works on 2G, 3G and 4G data networking devices during production at the company's factory in Tallinn, Estonia, on Wednesday, April 22, 2015

    Ericsson plans to cut around 3,900 jobs in Sweden, ditching most manufacturing as it grapples with a shrinking market for network equipment.

  • But they are the heaviest since 2009, when ING was forced to restructure and spin off its insurance activities after receiving a state bailout during the financial crisis. "I don't think this was the intention of the when it kept ING afloat with bailout money," Ike Wiersinga of the Dutch CNV union said. ING said it would invest 800 million euros in its technology...

  • RBC Capital Markets, the investment banking arm of RBC has in recent years made a series of senior hires in Europe, in an attempt to beef up its mergers and acquisitions and equity capital markets franchise in the region, where it employs around 200 people in the division. Money raised from flotations, or initial public offerings in Europe, fell 49 percent to $21...

  • Brian Moynihan, chairman and CEO of Bank of America.

    Bank of America is set to cut about two dozen investment banking jobs in Asia, including some top dealmakers starting this week.

  • Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia in response to a slowdown in activity in the region.