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Business Events Layoffs

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, part of Indian owner Tata Steel Ltd's drive to restructure its European operations. Today's news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK, "...

  • Twitter's net loss widened to $167.1 million, or 23 cents per share, in the fourth quarter ended Dec. 31, from $90.24 million, or 13 cents per share, a year earlier. Restructuring charges in the latest quarter ballooned to $101.2 million from $12.9 million a year earlier. Revenue rose 1 percent to $717 million.

  • Feb 8- Corn Flakes maker Kellogg Co said on Wednesday it would stop distributing its U.S. snacks business' products directly to stores and switch to its more widely used warehouse model to cut costs and adapt to a changing retail landscape. The distribution model change is part of an expanded "Project K" program, which Kellogg launched in 2013 to save up to $475...

  • *UK banks must separate retail, investment banking operations. LONDON, Feb 5- Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business. While Barclays was not among those that needed a UK...

  • MILAN, Feb 4- Italy's biggest bank UniCredit said on Saturday it had signed a deal with trade unions to cut 3,900 jobs in the country as it prepares to launch a record 13 billion euro share issue next week. The cuts in Italy will be carried out on a voluntary basis and UniCredit has committed to hiring 1,300 people over the next three years. To offset fourth-quarter...

  • The New York Times said in April that it would shut some of its Paris operations, while in November the Wall Street Journal started laying off employees and reducing the number of sections in the newspaper.. Net income attributable to the New York Times fell 28.1 percent to $37.1 million, or 24 cents per share, in the quarter. On an adjusted basis, the company earned 30...

  • The company, which plans to invest in a single consumer platform, said it would consolidate its Santa Clara, California- based teams into its headquarters in Redwood City. Shutterfly said its offices at Santa Clara and New York would be shut. Shutterfly said it expects to incur restructuring charges of $15 million- $20 million this year.

  • The company said it will restructure in 2017 — a plan that would include a 13 percent reduction in its workforce, affecting 260 employees.

  • *Planemaking chief moves office to new corporate HQ. PARIS, Feb 1- After top-level restructuring at Airbus come the musical chairs and a new logo intended to convey unity as the European giant aims to refocus its management without a return to past infighting. But close watchers of the predominantly Franco-German firm, still bruised by decades of infighting,...

  • TORONTO, Jan 31- Bell Media, a unit of Canadian telecom company BCE Inc, said on Tuesday it is reducing its radio and television industry workforce in more than two dozen locations across the country by an unspecified number. "The restructuring is the result of the challenges Bell Media and other Canadian media companies are facing due to increasing...

  • Paychex IHS Jobs Index up 0.13% in January

    Marty Mucci, Paychex CEO, breaks down new data on the state of small business in America.

  • *Shares slide 14.42 pct to record low of $6.17. Fitbit's shares fell 14.42 percent to a record low of $6.17 in morning trading on Monday. Fitbit said it now expects fourth-quarter revenue between $572 million and $580 million, much lower than its previous forecast of $725 million- $750 million.

  • James Park, chief executive officer of Fitbit Inc.

    The "Squawk on the Street" crew discusses the news that wearable maker Fitbit has announced it is cutting jobs and trimming its fourth quarter forecast.

  • Fitbit to trim workforce and report earnings miss

    The company will slash up to 10-percent of its workforce and disclose lower-than-expected fourth-quarter results, according to The Information.

  • Jan 30- Oil and natural gas producer Chevron Corp said it would give its top executive fewer stock options after shareholders expressed concern about executive pay. Oil companies have been restructuring pay packages of their top management after a two-year-long slump in oil prices eroded profitability. The company said its board approved a grant to Chief...

  • SAN FRANCISCO, Jan 27- San Bernardino, California, won final court approval on Friday for its financial restructuring plan, clearing the way for the city to wrap up the bankruptcy case it launched more than four years ago when its leaders learned it was facing insolvency. Jury's decision capped San Bernardino's efforts, including lengthy negotiations with its...

  • TORONTO, Jan 27- General Motors Co will cut 625 jobs at its auto assembly plant in Ingersoll, Ontario, by the end of July as it moves some production work to Mexico, the president of Canada's largest auto workers union said on Friday. President Donald Trump, who has vowed to renegotiate NAFTA with Canada and Mexico, met with the chief executives of the Big Three U.S....

  • TORONTO, Jan 27- General Motors Co will cut 625 jobs at its auto assembly plant in Ingersoll, Ontario, by the end of July and move some production work to Mexico, the president of Canada's largest auto workers union said on Friday. President Donald Trump met with the chief executives of the Big Three U.S. automakers earlier this week, urging them to build more cars in...

  • TORONTO, Jan 27- General Motors Co will cut 625 jobs at its auto assembly plant in Ingersoll, Ontario by the end of July and move the production work to Mexico, the president of Canada's largest auto workers union said on Friday.

  • Peabody's plan to slash $5 billion of debt has the support of the vast majority of its creditors but is opposed by Indiana, Missouri, environmental groups and certain former employees, creditors and shareholders. In a filing with the U.S. Bankruptcy Court in St. Louis, Lazard's Tyler Cowan, who has been advising Peabody on its restructuring, said the alternative...