Business Events Layoffs


  • Should Marissa Mayer step down? Tuesday, 2 Feb 2016 | 8:37 AM ET
    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 Tuesday, 2 Feb 2016 | 6:37 AM ET
    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 Thursday, 28 Jan 2016 | 10:00 AM ET
    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...

  • PARIS, Jan 27- STMicroelectronics will cut about 1,400 jobs and close its loss-making set-top box business, the Franco-Italian chipmaker said on Wednesday. STMicro said the job losses would include about 430 positions in France, 670 in Asia- mostly in India- and 120 in the United States. The changes will generate annualised savings of $170 million, it said, with...

  • Shares of VMware, whose parent EMC Corp is being acquired by Dell Inc, rose about 4 percent to $50.68 in extended trading on Tuesday. VMware appointed EMC Chief Financial Officer Zane Rowe its finance chief, effective March 1. VMware's net income rose 14.4 percent to $373 million, or 88 cents per share, in the quarter ended Dec. 31.

  • Earnings recap: 3M, DuPont and J&J Tuesday, 26 Jan 2016 | 10:51 AM ET
    Earnings recap: 3M, DuPont and J&J

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

  • Jan 26- American International Group Inc said it would spin off its mortgage insurance unit, cut jobs and sell its broker-dealer network as part of a sweeping overhaul promised to shareholders to fend off activist investor Carl Icahn. The insurer said in a statement on Tuesday that it plans to cut $1.6 billion of costs and return at least $25 billion to...

  • UPDATE 1-Sprint slashes 2,500 jobs to cut costs Monday, 25 Jan 2016 | 4:08 PM ET

    Jan 25- Sprint Corp has axed at least 2,500 jobs across six customer care centers and its Kansas headquarters as part of its plan to cut $2.5 billion in costs, a company spokeswoman said on Monday. The job cuts, mostly in customer care, also include 574 positions at Sprint's headquarters at Overland Park, Kansas, Sprint spokeswoman Michelle Boyd said.

  • Major banks are making cuts Monday, 25 Jan 2016 | 10:00 AM ET
    Major banks are making cuts

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

  • Jan 25- SandRidge Energy Inc is exploring debt restructuring options, according to people familiar with the matter, as the heavily indebted U.S. oil and gas exploration and production company struggles with the fallout from plunging energy prices. Debtwire had reported on Jan. 13, also citing unnamed sources, that SandRidge- which produces oil and gas from shale...

  • Jan 22- Schlumberger Ltd, the world's No.1 oilfield services provider, said it was optimistic that it had completed the job cuts needed in this oil downturn. Schlumberger reported a slightly better-than-expected quarterly profit on Thursday as it cut costs again- mostly through 10,000 job cuts- and the company unveiled a $10 billion share buyback program.

  • Schlumberger sees unexpected cancellations Friday, 22 Jan 2016 | 7:00 AM ET
    Schlumberger sees unexpected cancellations

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

  • Pearson to cut 4,000 jobs in latest restructuring Thursday, 21 Jan 2016 | 7:23 AM ET
    John Fallon, chief executive officer of Pearson Plc

    Britain's Pearson said it would cut 10 percent of its workforce and restructure once again to tackle a storm it is facing in markets.

  • LONDON, Jan 21- Britain's Pearson said it would cut 10 percent of its workforce and restructure once again to tackle a storm it is facing in markets from North America to South Africa after focusing on educational publishing. Chief Executive John Fallon said problems in its markets, such as fewer people in the United States going to college, had been more...

  • *Bank to close Asia cash equities business- memo. HONG KONG, Jan 21- Barclays will cut about 1,000 jobs in investment banking worldwide and close its cash equities business in Asia as new Chief Executive Jes Staley wields the axe in a bid to reduce costs and boost returns. Barclays will shut its investment banking businesses in countries including Australia,...

  • Jan 21- Southwestern Energy Co said it would lay off 1,100 employees, or nearly 40 percent of its workforce, as it slows down drilling activity in response to a prolonged slump in oil prices. The company said it expects to record a pre-tax charge of about $60 million to $70 million in the first quarter. Southwestern, which had no drilling rigs in operation at the start...