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Layoffs

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  • *HSBC to cut risk weighted assets by $290 bln. HONG KONG, June 9- HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday. However the cuts, to be completed by 2017, will be followed by some hiring in...

  • May job cuts down 33%: Challenger Thursday, 4 Jun 2015 | 7:31 AM ET
    May job cuts down 33%: Challenger

    John Challenger, Challenger CEO, goes inside the latest employment figures.

  • Disney: You're fired! Now train your replacements Thursday, 4 Jun 2015 | 12:00 AM ET
    The Team Disney building near Walt Disney World, where about 250 Disney employees were told in late October that they would be laid off, in Lake Buena Vista, Fla., May 22, 2015.

    Disney laid off about 250 employees, transferring many of their jobs to immigrants on temporary visas for highly skilled tech workers, NYT reports.

  • *City growth would help generate 145,000 new jobs in London. A report commissioned by the City of London Corporation, which promotes London as a financial center, said the City generated 45 billion pounds in what it termed economic output in 2014, with that figure expected to grow by 16 billion in the next 10 years. "This report shows how vital the City's success is...

  • WASHINGTON, June 2- Sikorsky Aircraft, a unit of United Technologies Corp, on Tuesday said it would cut 1,400 jobs and consolidate facilities, with lower oil prices sharply reducing demand for helicopters in the oil and gas sectors, and international military orders down. "Today's announcement is based on the current challenging market conditions and is...

  • WASHINGTON, June 2- Sikorsky Aircraft said a major restructuring announced Tuesday is "completely unrelated" to an ongoing review by its parent company, United Technologies Corp, about strategic options for Sikorsky, including a possible spinoff. "Today's announcement is based on the current challenging market conditions and is independent of United...

  • JPMorgan to lay off 5,000 employees across firm Friday, 29 May 2015 | 7:35 AM ET
    JPMorgan Chase headquarters building

    JPMorgan Chase will cut about 5,000 jobs over the next year, as the bank closes branches and slims down operations, The Wall Street Journal reported.

  • OSLO, May 29- Norwegian retail sales surged past all expectations in April and the unemployment rate unexpectedly fell, indicating the economy's resilience in the face of the oil sector's crash and making a rate cut next month less certain. Norway's growth is slowing as oil companies cut spending by around 15 percent, lay off workers and delay projects as crude...

  • JPMorgan expected to cut more than 5K jobs: Report Thursday, 28 May 2015 | 3:47 PM ET
    A pedestrian walks past the JPMorgan Chase headquarters building in New York.

    The JPMorgan Chase layoffs come as the bank has moved to put more of an emphasis on technology and rely less on human tellers.

  • Ocwen to cut 140 jobs at Houston Wednesday, 27 May 2015 | 4:59 PM ET

    May 27- Private mortgage servicer Ocwen Financial Corp said it will cut 140 jobs as part of its move to stop residential servicing operations in Houston. Ocwen has sold more than $90 billion of servicing rights since February, which includes $45 billion of mortgage servicing rights to JPMorgan Chase& Co's consumer and commercial banking unit.

  • REMBRANDT ENTERPRISES TO TEMPORARILY LAY OFF 39 WORKERS AT MINNESOTA EGG FACILITY DUE TO BIRD FLU.

  • May 20- Drug developer Lpath Inc said it would cut jobs and costs after its experimental eye drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly. Lpath, which had about 25 employees as of March 1, according to a regulatory filing, also said it would re-evaluate its research and...

  • Lpath to cut jobs as eye drug fails mid-stage study Wednesday, 20 May 2015 | 8:14 AM ET

    May 20- Lpath Inc said it would reduce its workforce and cut costs as its experimental drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly. Lpath's drug, iSONEP, did not show any statistically significant improvement in visual clarity in patients who had not realized enough benefit...

  • WASHINGTON, May 15- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Friday said it was cutting its executive ranks by 30 percent in December through what it called voluntary departures by 12 executives. ULA, formed by the two largest U.S. weapons makers in 2006, has long been the sole company able to launch U.S. military and...

  • May 15- Blue Bell Creameries said it would lay off about 750 full-time and 700 part-time employees, nearly a month after the ice cream maker voluntarily recalled all its products and stopped production due to bacterial contamination. The cuts will affect about 37 percent of the Brenham, Texas- based company's total workforce of 3,900, a decision Chief...

  • WASHINGTON, May 15- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Friday said 12 executives would leave the company in December under a voluntary layoff, a 30- percent reduction in executive ranks. Tory Bruno, chief executive of the venture, told Reuters in an emailed statement the layoffs were part of ULA's ongoing efforts to...

  • UNITED LAUNCH ALLIANCE, JOINT VENTURE OF LOCKHEED AND BOEING, SAYS 12 EXECUTIVES LEAVING COMPANY IN DECEMBER UNDER VOLUNTARY LAYOFF.

  • CARACAS/ NEW YORK, May 14- A growing number of U.S. companies say they can't cope with Venezuela's sinking bolivar currency, prompting some of them to remove their operations in the South American nation from their consolidated financial reports. The restructuring moves can shield the financial results of parent companies such as batteries and razors maker...

  • CARACAS/ NEW YORK, May 14- A growing number of U.S. companies say they can't cope with Venezuela's sinking bolivar currency, prompting some of them to remove their operations in the South American nation from their consolidated financial reports. The restructuring moves can shield the financial results of parent companies such as batteries and razors maker...

  • May 13- Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June. Houston- based Schlumberger also said last month that it plans to cut another 11,000 jobs, bringing the total job cuts...