Business Events Layoffs

  • Aug 4- Cybersecurity firm FireEye Inc said it planned to layoff 300 to 400 of its 3,400 workers as it announced quarterly sales on Thursday that missed its own forecast and the company also cut its full-year outlook. Chief Financial Officer Michael Berry told Reuters that the job cuts were part of a restructuring effort that will reduce annual costs by about $80...

  • *Weekly jobless claims increase 3,000. WASHINGTON, Aug 4- The number of Americans filing for unemployment benefits unexpectedly rose last week, while renewed job cuts in the energy sector boosted layoffs announced by U.S.-based employers in July. For two months now, new orders for mining and oil and gas field equipment were up, "said Joel Naroff, chief economist at...

  • *Posts revenue of $769 mln vs est $782.5 mln. Chief Financial Officer Jeff Bairstow said the forecast included the adverse impact of the restructuring of its sales and marketing divisions and Britain's vote to leave the European Union. Time plans to lay off about 110 of its employees to focus on the reorganization of its sales and marketing divisions, the Wall...

  • WASHINGTON, Aug 4- The number of Americans filing for unemployment benefits unexpectedly rose last week, while renewed job cuts in the energy sector boosted layoffs announced by U.S.-based employers in July. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 269,000 for the week ended July 30, the Labor Department said.

  • WASHINGTON, Aug 4- The number of Americans filing for unemployment benefits unexpectedly rose last week, while renewed job cuts in the energy sector boosted layoffs announced by U.S.-based employers in July. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 269,000 for the week ended July 30, the Labor Department said...

  • Pedestrians walk past the New York Stock Exchange in New York.

    The pace of layoffs announced by U.S.-based companies rose for a second-straight month in July.

  • PARIS, Aug 2- French telecoms operator SFR aims to reach an agreement with unions this week on severance pay for 5,000 job cuts, a union official said on Tuesday. The redundancy package averages 2.5 months of salary per year of service, Abdelkader Choukrane, an official for UNSA, SFR's biggest union, said confirming an earlier report by Reuters.

  • Xerox's total costs declined 6 percent to $4.24 billion. This included restructuring and related charges of $71 million, less than the $100 million the company had estimated in April. Xerox said it expected one-time pretax separation costs of $175 million- $200 million, lower than the $200 million- $250 million it had estimated earlier.

  • Microsoft to slash more jobs

    The software giant plans to reduce its workforce by 4-percent over the next 12-months.

  • Microsoft said it would cut about 2,850 more jobs over the next 12 months, for total planned job cuts of 4,700, or about 4 percent of its workforce.

  • July 22- Farm equipment maker Deere& Co said on Friday it would lay off about 120 production employees at its John Deere Harvester Works factory in east Moline, Illinois from Sept. 6. The factory has about 1,050 production employees, the company said. Deere said it continued to adjust its production workforce according to demand for products manufactured at each...

  • WASHINGTON, July 21- U.S. home resales hit their highest level in nearly 9-1/ 2 years in June as low interest rates lured first-time buyers into the market and the number of Americans filing for unemployment benefits fell last week, underscoring the economy's strength. With housing and consumers powering ahead, some of the clouds are dissipating and summer looks...

  • Mixed quarter for Intel

    Chris Caso, CLSA, breaks down Intel's quarterly numbers and weighs in on the company's growth plan as the PC has "failed to evolve."

  • July 19- Zafgen Inc said it was suspending the development of its lead obesity drug, beloranib, more than six months after the U.S. Food and Drug Administration asked the company to halt all tests on the drug following the death of two patients. The U.S. Food and Drug Administration asked Zafgen to halt all tests on the drug in December after a second patient died from...

  • July 19- Zafgen Inc said it was suspending the development of its obesity drug, beloranib, and reducing its workforce by about 34 percent, sending its shares tumbling 41.9 percent in extended trading on Tuesday. In December, the U.S. Food and Drug Administration asked Zafgen to halt all tests on the drug after a second patient died from an artery blockage in the lung.

  • Dallas- based Comerica set aside $49 million in the second quarter to cover bad loans, compared with $148 million in the first quarter. The company's energy loans declined 11 percent in the quarter ended June 30, even as total average loans rose 2 percent to $49.5 billion, driven by an increase in mortgage and real estate loans. The company will incur pre-tax...

  • The U.S. regional bank, which also plans to reorganize its branches and real estate assets and outsource some functions, said the restructuring actions are expected to cut costs by about $160 million by the end of 2018.. Dallas- based Comerica said profit fell to $103 million, or 58 cents per share, in the second quarter ended June 30, from $134 million, or 73 cents per...

  • July 19- Comerica Inc said it would cut 9 percent of its workforce to reduce expenses and reported a 23 percent fall in quarterly profit. The bank's restructuring actions, which also included streamlining operations, reorganization of its branches and real estate assets and outsourcing some functions, are expected to cut costs by about $160 million by the end...

  • NEW YORK, July 19- Even after years of lean times, big U.S. banks are coming under new pressure to cut costs. But management teams are finding some expenses simply won't budge- like the $1 billion a year it costs Bank of America Corp to shuffle papers around and transport money in armored trucks. "There are fundamental costs associated with running a broad retail...

  • SAO PAULO, July 12- On Christmas Day 2014, in an empty São Paulo office building, four senior executives at engineering firm Grupo OAS SA set in motion a corporate bankruptcy that is helping reshape Brazil Inc.. Over the previous decade, Brazil's ruling Workers Party had built national champions using cheap state credit and contracts with state firms.