Business Events Layoffs

  • Workers assemble a Boeing Co. 787 Dreamliner airplane at the Boeing Everett Factory in Everett, Washington.

    Boeing's commercial airplanes unit said on Monday it would cut more jobs in 2017 after slashing the workforce by 8 percent in 2016 as it battles to sell planes.

  • Dec 19- Boeing Co's commercial airplanes unit said on Monday it would reduce its workforce in 2017, adding to the about 8 percent jobs the company has cut since the beginning of 2016.. The company is offering a voluntary layoff program in early 2017, adding that involuntary layoffs may occur in some cases, Boeing Commercial Airplanes said in an internal memo.

  • Dec 19- Boeing Co's commercial airplanes unit said on Monday it would reduce its workforce in 2017, adding to the about 8 percent jobs the company has cut since the beginning of 2016.. This year's job cuts include a 10 percent reduction of executives and managers, Boeing Commercial Airplanes said in an internal memo. Reuters had reported in February that Boeing...

  • Dec 18- Etihad Airways said on Sunday it is cutting jobs in some parts of its business as a part of its restructuring. An Etihad Airways spokesman said that a majority of those affected by the headcount reduction are through "natural attrition" and the vacancies will not be filled. Etihad, in a bid to strengthen its European network, struck a code sharing deal last...

  • LONDON, Dec 15- Some of the top banks in Europe have said this year that they plan to cut a total of fewer than 50,000 jobs, a sharp drop from the number announced in 2015. Data compiled by Reuters shows 17 of Europe's biggest banks have announced a total of about 46,000 staff cuts since the beginning of the year- 65 percent lower than the 130,000 job losses announced by...

  • LONDON, Dec 15- Job cuts announced by European banks have tumbled in 2016, as they work through a backlog of layoffs unveiled in previous years and struggle to find new areas where they can trim staff without threatening profitable operations. Some industry watchers say lenders might even recruit a little next year overall, provided the market rally following...

  • *About 1,600 staff in Sweden have volunteered to leave. The company said in October it was cutting about a fifth of its Swedish workforce and hundreds of consultants as it grappled with shrinking markets and competition from China's Huawei and Finland's Nokia. The company announced a plan in October to shed 3,000 jobs in production, research and development...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Mylan, whose shares were down more than 3 percent in mid-afternoon trading, has been under investigation by the U.S. government, and its chief executive officer was called before Congress to testify on raising the price of a pair of EpiPens to more than $600 from $100 in 2008.. At Tuesday's market close, its shares had fallen 25 percent since August, when it first...

  • Mylan has about 35,000 employees, the company's spokeswoman Nina Devlin said. The U.S. Senate Judiciary Committee in late November postponed a hearing planned on Mylan's $465 million settlement to resolve charges that it underpaid government healthcare programs by misclassifying its EpiPen treatment. Mylan has come under fire for raising the price of a...

  • Dec 7- Generic drugmaker Mylan NV said on Wednesday it may cut less than 10 percent of its global workforce as part of a restructuring program. Mylan has been under investigation and faced harsh criticism over steep price increases for its life-saving Epipen auto-injector, which is used for severe allergic reactions. The company said it would implement...

  • At that time the company also announced a cost-cutting plan that included lowering operating expenses in 2017 to about $350 million, compared with $450.9 million in 2015, and more than halving its 2017 capital budget to about $100 million. The company also forecast 2017 revenue, excluding certain items, of $2.10- $2.60 billion, well below analysts average...

  • Dec 7- SunPower Corp, the No. 2 U.S. solar panel maker, said on Wednesday it would lay off about 25 percent of its workforce, or 2,500 employees, and close one plant as part of a cost-cutting plan it announced last month. SunPower, majority owned by French energy giant Total SA, said it expects to incur restructuring charges of $225- $275 million through the end of 2017..

  • Dec 5- General Mills Inc, the maker of Cheerios cereal, said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer. As part of the new organizational structure, the company will be split into four business groups- North America retail, Europe& Australia, Asia& Latin...

  • SAO PAULO, Dec 1- Odebrecht SA, the engineering conglomerate that on Thursday agreed to a $2 billion leniency deal with prosecutors in Brazil's biggest graft case, is making progress selling assets and restructuring some businesses as part of a broad overhaul. In a statement, the company pledged not the engage ever again in improper business practices.

  • Layoffs fall to lowest level of 2016

    The Challenger report shows the level of layoffs announced by employers now hover close to a 16-year bottom.

  • *Weekly jobless claims increase 17,000. WASHINGTON, Dec 1- The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level in five months, but the underlying trend remained consistent with a healthy labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted...

  • A man tries out a new GoPro HERO5 Black during a press event last September.

    Despite strong holiday weekend sales GoPro announced a restructuring, including cutting 15% of jobs and closing its entertainment unit.

  • Nov 30- GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business. The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter. GoPro's shares were up 2.7 percent at $10.10 in premarket trading.