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  • Prescription drug distributor McKesson Corp. headquarters is seen in San Francisco.

    McKesson is cutting 1,600 jobs, or about 4 percent of its workforce, to slash costs after the company lost some key customers, Bloomberg reported.

  • March 16- U.S. drug distributor McKesson Corp is cutting 1,600 jobs, or about 4 percent of its U.S. workforce, to slash costs after the company lost some key customers, Bloomberg reported on Wednesday. McKesson began a strategic review in January and decided that "reductions to our workforce would be necessary to align our cost structure with our business needs,"...

  • BEIJING, March 16- China's Premier Li Keqiang defended the government's economic policies on Wednesday, vowing there would be no mass layoffs and no hard landing for the world's second-largest economy even as the government presses ahead with painful reforms. While conceding that downward pressure is increasing, Li and other top officials at the annual...

  • BEIJING, March 16- China will try to avoid mass layoffs as it restructures the steel and coal sectors, even as it pushes ahead with economic reforms, Premier Li Keqiang said.

  • *Consumption patterns shifting in China. SHANGHAI/ HONG KONG, March 16- Retailers in China are shedding staff, slowing expansion plans and seeing stocks pile up in warehouses as shoppers tighten their belts- a major headache for a country that has pinned its hopes on consumers to drive economic growth. The weak sales of even cheap household goods underlines the...

  • *To create 300 similar jobs in India. LONDON, March 15- Royal Bank of Scotland plans to eliminate almost 500 UK-based jobs in its investment bank in an effort to cut costs, a source familiar with the matter said on Tuesday. At the same time, the bank will be creating about 300 similar roles in India, the person said.

  • Avon Products said it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan.

  • March 14- Cosmetics maker Avon Products Inc said on Monday it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan. The company sold most of its North American business to Cerberus Capital, its biggest investor, after four years of falling sales. Avon said it would maintain its current...

  • BRUSSELS, March 14- Spanish airline Iberia is preparing new job cuts to reduce costs after completing the current redundancy program, its chairman Luis Gallego said on Monday. After that Iberia will seek a new agreement with the unions for additional voluntary job losses for older employees close to retirement, Gallego said at an event organized by the...

  • China will focus on mergers and restructuring, not bankruptcies, Xiao Yaqing, the head of the State-owned Assets Supervision and Administration Commission, told a news conference. As it tries to rejuvenate its economy, China aims to reduce the number of central government-managed enterprises and launch pilot programmes that will allow more private...

  • BEIJING, March 12- China's economic restructuring will not lead to the kind of mass layoffs that took place in the 1990 s, the country's state assests regulator said on Saturday. China will focus on mergers and restructuring, not bankruptcies, Xiao Yaqing, the head of the the State-owned Assets Supervision and Administration Commission, told a news conference.

  • *Guangdong scrapping rises in minimum wage through 2018. BEIJING, March 12- China's labour protections are coming under fire from high places as economic restructuring pits officials concerned about social stability against a lobby arguing inflexible policies are stifling job creation and suppressing wages. Now policymakers anxious to modernise...

  • March 11- Credit Suisse Group AG said it would lay off 163 employees at its New York office, as part of a restructuring plan under new Chief Executive Tidjane Thiam. Credit Suisse, Switzerland's second-biggest bank, made a total of around 200 redundancies in its London- based operations last month. The Zurich- based bank said in February it had accelerated cost...

  • Colgate-Palmolive's Colgate Total brand toothpaste

    The restructuring program, now expected to end in December 2017, will result in the reduction of 3,300 to 3,800 positions globally.

  • *Guangdong scrapping rises in minimum wage through 2018. BEIJING, March 11- China's labour protections are coming under fire from high places as economic restructuring pits officials concerned about social stability against a lobby arguing inflexible policies are stifling job creation and suppressing wages. The export powerhouse province of Guangdong, a...

  • ABUJA, March 9- Nigeria's petroleum minister said on Wednesday he would hold talks with trade unions to resolve a strike over restructuring at the state oil company in Africa's biggest crude producer. President Muhammadu Buhari has prioritised reforming Nigeria's oil sector, long mired in endemic corruption and mismanagement, as a sharp fall in crude prices...

  • LAGOS, March 9- Nigerian oil workers are staging a nationwide strike that has led to a walkout of staff from the state oil company, the head of the Petroleum and Natural Gas Senior Staff Association of Nigeria said on Wednesday. Lumumba Okugbawa said the action was being taken in response to a restructuring of the Nigerian National Petroleum Corporation,...

  • March 8- Lockheed Martin Corp's aeronautics business said it plans to reduce about 1,000 positions in the United States through a "voluntary layoff" program. The program is available to mid-level employee groups in several location in the U.S. including Fort Worth, Texas and Marietta, Georgia, the company said. Lockheed is scrambling to become more agile and...

  • FRANCE'S AREVA TO CONTINUE COST-CUTTING IN WEAK MARKET, CUTTING 100-200 JOBS IN 2016- VP.

  • What Chevron to reveal unanswered questions

    Chevron executives could announce several strategic moves today at its analyst day, including plans to reduce employees, reports CNBC's Landon Dowdy.