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Business Events Layoffs

  • LONDON, Dec 15- Job cuts announced by European banks have tumbled in 2016, as they work through a backlog of layoffs unveiled in previous years and struggle to find new areas where they can trim staff without threatening profitable operations. Some industry watchers say lenders might even recruit a little next year overall, provided the market rally following...

  • *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...

  • 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..

  • 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...

  • 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.

  • Oil workers in the Permian Basin outside Midland, Texas

    As the price of crude shows little sign of revival, some parts of America's oil country are taking a much bigger hit than others.

  • Tim Armstrong speaks onstage during the Building Brands People Love: A Fireside Chat with AOL’s Tim Armstrong on the Times Center Stage during 2016 Advertising Week New York on September 26, 2016 in New York City.

    AOL CEO Tim Armstrong said that most of the cuts will come in its corporate units. Recode reports.

  • First Solar Inc.

    First Solar forecast sales well below estimates, and said it would slash about 1,600 jobs as it transitions to a new product ahead of schedule.

  • People walk along Wall Street in New York.

    October's total was the second-lowest of 2016, the Challenger report says.

  • October job cuts down 31%: Report

    John Challenger, Challenger, Grey & Christmas CEO and YPO member, sifts through the latest employment data.