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Business Events Layoffs

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  • 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...

  • US planned layoffs total 44,842 in June: Challenger Wednesday, 1 Jul 2015 | 7:30 AM ET
    Lost job fired

    The number of planned layoffs announced by U.S.-based companies ticked up nearly 10 percent in June from the previous month.

  • BEIJING, July 1- China's factory activity contracted for the fourth straight month in June but at a slower pace than in May, a private survey showed on Wednesday, offering signs that the economy may be slowly levelling out but is still in need of more support measures. The HSBC/ Markit Flash China Manufacturing Purchasing Managers' Index edged up to 49.4 from 49.2 in...

  • June 30- Standard& Poor's Ratings Services lowered its credit rating on Puerto Rico to' CCC-minus' from' CCC-plus', hours after Governor Alejandro Garcia Padilla said the U.S. territory needed a period of bankruptcy to restructure its debt. Former IMF staffers-- engaged by Government Development Bank, Puerto Rico's financing arm-- issued a damning report on Sunday...

  • UPDATE 1-Intuit lays off 399 employees Friday, 26 Jun 2015 | 6:29 PM ET

    June 26- Intuit Inc, a maker of software that helps with tax-preparation, said it has laid off 399 people. The company had about 8,000 full-time employees as of July 31, 2014. Patrick Barry, who leads customer communication software maker Demandforce, has also stepped back, though he remains with Intuit, the spokesperson said.

  • June 26- Intuit Inc, which makes software that helps with tax-preparation, has laid off 399 people, or about 5 percent of its workforce, technology news website TechCrunch reported. Patrick Barry, who leads customer communication software maker Demandforce, has also stepped back, though he remains with Intuit, TechCrunch reported, citing the company.

  • June 25- General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, said it would cut 675-725 jobs in its international business under a new restructuring plan aimed at cutting costs and boosting growth. While General Mills' U.S. sales for the third quarter ended Feb. 22 rose after five straight quarters of decline, international sales have...

  • CALGARY, Alberta, June 23- Pipeline company TransCanada Corp and oil and gas producer Encana Corp both said on Tuesday they were cutting jobs, joining other Canadian energy firms that have laid off staff since global oil prices slumped. TransCanada, the backer of the controversial Keystone XL pipeline project, said it cut 185 jobs following a restructuring to...

  • J Crew fires VP after social media backlash: Source Friday, 19 Jun 2015 | 12:51 PM ET

    A J.Crew VP has been fired after posting celebratory photos to social media that seemingly taunted recently fired employees.

  • June 19- Chocolate maker Hershey Co cut its full-year sales growth forecast, citing weak sales in China, and said it would cut 300 jobs by the end of the year. The company has also made changes to its leadership team under a new productivity program that it expects will result in $65 million to $75 million in pretax savings, primarily in 2016.. Hershey's shares were...

  • J Crew exec seemingly taunts fired employees Thursday, 18 Jun 2015 | 6:04 PM ET
    A J. Crew sign is displayed outside one of company’s stores in New York.

    After layoffs at its headquarters in New York, one J.Crew VP is in hot water after joking about the firings on social media.

  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief...