Business Events Layoffs


  • WASHINGTON, Feb 4- The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff. It looks like the labor market has scaled back its rapid advance last month, "said Chris Rupkey, chief economist at MUFG Union Bank in New York.

  • Stressed unemployed

    Layoffs surged in January to the highest levels since last summer as employers in the retail and energy sectors pulled out the pink slips.

  • Monthly jobs cuts up 218%: Challenger

    John Challenger, Challenger CEO, provides insight to new data on jobs.

  • The company, which makes computer-aided design software, said it expected pre-tax charges of $85 million- $95 million related to the restructuring. The company in November forecast fourth-quarter adjusted profit of between 8- 12 cents per share on revenue of $620- $640 million. Analysts on average were expecting a profit of 10 cents per share on revenue of...

  • The company said it anticipated pre-tax charges of $85 million- $95 million related to the restructuring.

  • Ford Europe slashes jobs to trim costs

    The auto company plans to shed hundreds of jobs in Europe to cut costs by $200 million annually.

  • BERLIN, Feb 3- Ford plans to cut hundreds of white-collar jobs in Europe to reduce costs by $200 million a year and revamp its model line-up as it targets sustainable profitability in the region, the carmaker said on Wednesday. The U.S. company turned a full-year profit of $259 million in Europe in 2015, its first since 2011, helped by a 10- percent gain in vehicle...

  • The Yahoo! website and logo are displayed on laptop computers in Washington, April 15, 2014.

    I've walked away from my buy rating on the stock, says Victor Anthony, Axion Capital Management, weighing in on the challenges ahead for Yahoo and whether CEO Marissa Mayer has run out of time to turnaround the company.

  • The announcement is the strongest sign yet that the board and Chief Executive Marissa Mayer may be willing to sell the struggling Internet business- essentially websites, email and online search- under growing pressure from impatient shareholders. "We believe the strategic plan does not fully address the core issues which have destroyed shareholder value-...

  • Feb 2- Yahoo Inc, under growing pressure from impatient investors, said on Tuesday it would consider "strategic alternatives" for its core Internet business and cut about 15 percent of its workforce, even as it continues with its plan to revamp the business and spin it off. The announcement is the strongest sign yet that Chief Executive Marissa Mayer may be willing...

  • Should Marissa Mayers step down?

    CNBC's Jon Fortt and Adam Grant, Wharton professor, discuss the likelihood of layoffs at Yahoo, Sheryl Sandberg's leadership and Jack Dorsey's full plate.

  • Executive Edge: Yahoo to cut jobs

    The "Squawk Box" news team discusses some of the morning's most provocative headlines, including a report that says Marissa Mayer plans to cut 15 percent of the workforce and close several business units.

  • RCS Capital listed total assets of $2 billion and debts of $1 billion in its Chapter 11 filing in Delaware, court documents showed on Monday. Under the restructuring plan, lenders will inject $150 million into broker-dealer Cetera and ties to Schorsch will be cut by eliminating common shares and some $500 million in preferred stock, court documents showed.

  • *To rationalise production in Europe and Brazil. The restructuring announced on Monday includes the closure of two rolling mills in France, one threading line in Germany and a heat treatment line in Scotland, leading to the loss of about 1,000 jobs on top of previously announced cuts. "Our plan significantly adjusts our industrial footprint in Europe to address...

  • Say China coal miners to get time off over Lunar New Year. BEIJING, Jan 29- In a break with tradition, 15 Chinese coal mining groups have said they will close operations and allow workers to leave their posts during the Lunar New Year holidays next month, taking some pressure off a sector burdened by massive overcapacity. Spot thermal coal in Qinhuangdao port has...

  • Marissa Mayer's plan involves a list with three options

    The Yahoo CEO creates an invest, maintain, kill list as part of the Internet company’s restructuring efforts.

  • SAO PAULO, Jan 28- Debt restructuring firms are poised to pull in record amounts of business in Brazil this year as the country's worst recession in decades and a corruption probe that has cast a shadow over dozens of companies leads to a surge in defaults. Scenting an opportunity, U.S. restructuring shops including FTI Consulting Inc, Houlihan Lokey Inc, and...

  • Earnings recap: 3M, DuPont and J&J

    CNBC's Dominic Chu recaps the latest major company earnings reports.

  • Major banks are making cuts

    Bank of America, Citi Group and JPMorgan Chase are trimming jobs and branches.

  • Schlumberger sees unexpected cancellations

    The world's largest oilfield services company is receiving 'unscheduled and abrupt activity cancellations' from customers.