Business Events Layoffs

  • BEIJING, March 12- China's economic restructuring will not lead to the kind of mass layoffs that took place in the 1990 s, the country's state assests regulator said on Saturday. China will focus on mergers and restructuring, not bankruptcies, Xiao Yaqing, the head of the the State-owned Assets Supervision and Administration Commission, told a news conference.

  • *Guangdong scrapping rises in minimum wage through 2018. BEIJING, March 12- China's labour protections are coming under fire from high places as economic restructuring pits officials concerned about social stability against a lobby arguing inflexible policies are stifling job creation and suppressing wages. Now policymakers anxious to modernise...

  • March 11- Credit Suisse Group AG said it would lay off 163 employees at its New York office, as part of a restructuring plan under new Chief Executive Tidjane Thiam. Credit Suisse, Switzerland's second-biggest bank, made a total of around 200 redundancies in its London- based operations last month. The Zurich- based bank said in February it had accelerated cost...

  • Colgate-Palmolive's Colgate Total brand toothpaste

    The restructuring program, now expected to end in December 2017, will result in the reduction of 3,300 to 3,800 positions globally.

  • *Guangdong scrapping rises in minimum wage through 2018. BEIJING, March 11- China's labour protections are coming under fire from high places as economic restructuring pits officials concerned about social stability against a lobby arguing inflexible policies are stifling job creation and suppressing wages. The export powerhouse province of Guangdong, a...

  • ABUJA, March 9- Nigeria's petroleum minister said on Wednesday he would hold talks with trade unions to resolve a strike over restructuring at the state oil company in Africa's biggest crude producer. President Muhammadu Buhari has prioritised reforming Nigeria's oil sector, long mired in endemic corruption and mismanagement, as a sharp fall in crude prices...

  • LAGOS, March 9- Nigerian oil workers are staging a nationwide strike that has led to a walkout of staff from the state oil company, the head of the Petroleum and Natural Gas Senior Staff Association of Nigeria said on Wednesday. Lumumba Okugbawa said the action was being taken in response to a restructuring of the Nigerian National Petroleum Corporation,...

  • March 8- Lockheed Martin Corp's aeronautics business said it plans to reduce about 1,000 positions in the United States through a "voluntary layoff" program. The program is available to mid-level employee groups in several location in the U.S. including Fort Worth, Texas and Marietta, Georgia, the company said. Lockheed is scrambling to become more agile and...

  • FRANCE'S AREVA TO CONTINUE COST-CUTTING IN WEAK MARKET, CUTTING 100-200 JOBS IN 2016- VP.

  • What Chevron to reveal unanswered questions

    Chevron executives could announce several strategic moves today at its analyst day, including plans to reduce employees, reports CNBC's Landon Dowdy.

  • NEW YORK, March 7- Wall Street bonuses for 2015 slumped to a three-year low as volatility in financial markets eroded profits, the New York state comptroller said in a report that also warned of weaker profits and job cuts for the industry this year. The average Wall Street bonus paid out on 2015 profits fell 9 percent to $146,200, its lowest since 2012, according to...

  • March 6- China's plans to reduce industrial overcapacity are unlikely to result in large-scale layoffs, the country's top economic planner said on Sunday. Xu Shaoshi, head of the National Development and Reform Commission, told reporters at a briefing that economic growth will create more jobs and help offset the impact of capacity cuts.

  • BEIJING, March 5- China aims to keep its economy growing by at least 6.5 percent over the next five years while pushing hard to create more jobs and restructure inefficient industries, Premier Li Keqiang said on Saturday. Growth of 6.5 percent would mark a ripping pace for most countries but would still be the slowest in China in a quarter century as world's No. 2...

  • MEXICO CITY, March 4- Workers at ArcelorMittal's steel plant in western Mexico went on strike on Friday, the company and the national union said, as the industry grapples with a plunge in prices. More than 3,000 workers have gone on strike over job cuts and stopped operations at the plant in Lazaro Cardenas, Michoacan, Ricardo Torres, the head of the local section 271...

  • GABORONE, March 4- Botswana's mining industry faces further job losses as it reels from the global slump in commodities, with copper miner BCL set to shed up to a third of its workforce and Gem Diamond also planning lay offs, the mines department said on Friday. London- listed Gem Diamond expects diamond production at its Ghaghoo mine in central Botswana to fall by...

  • *China kicks off annual parliament session. BEIJING, March 4- China commences its once-a-year parliamentary session this weekend to map out plans for dealing with a wobbling economy and worries the ruling Communist Party is losing its credibility as a competent manager. China aims to lay off 5-6 million state workers over the next two to three years, two...

  • Job cuts

    Layoffs by U.S. companies eased in February from January, but were higher than last year, Challenger, Gray & Christmas reports.

  • China to lay off 5M to 6M workers in coal, steel sectors

    The country aims to tackle industrial overcapacity and curb pollution.

  • China to lay off 1.8M workers in coal, steel sectors

    The country works to reduce industrial overcapacity and curb pollution.

  • David Sacks, CEO, Zenefits

    Zenefits said today that it has laid off 250 employees, mostly in its sales recruiting organization. Re/code reports.