Business Events Layoffs

  • June 29- The retirement plan at Chesapeake Energy Corp is being partially terminated after significant employee reductions at the company. The partial termination means the company will be required to vest at 100 percent all terminated participants, Chesapeake said Tuesday in the 401 plan's annual report. The retirement plan had a total investment loss of...

  • June 29- Hard-disk drive maker Seagate Technology Plc said it was cutting about 1,600 jobs, or 3 percent of its workforce, as part of a restructuring plan to reduce costs. Seagate said the plan, which it expects to complete by the end of the September quarter, is likely to result in total pre-tax charges of $62 million. The charges will be accounted for mainly in...

  • JAKARTA, June 28- Foreign workers are leaving Indonesia at an increasing rate due to the slump in commodity prices that has forced resource companies to slash jobs at a time when the government has also introduced tighter regulations on expatriates in Southeast Asia's biggest economy. As a result, rents on upmarket homes in Jakarta have plummeted and...

  • JAKARTA, June 28- Foreign workers are leaving Indonesia at an increasing rate due to the slump in commodity prices that has forced resource companies to slash jobs at a time when the government has also introduced tighter regulations on expatriates in Southeast Asia's biggest economy. As a result, rents on upmarket homes in Jakarta have plummeted and...

  • JAKARTA, June 28- Foreign workers are leaving Indonesia at an increasing rate due to the slump in commodity prices that has forced resource companies to slash jobs at a time when the government has also introduced tighter regulations on expatriates in Southeast Asia's biggest economy. As a result, rents on upmarket homes in Jakarta have plummeted and...

  • The headquarters of German bank Deutsche Bank

    The bank confirmed that it will shut a quarter of its German branches as it cuts costs and revamps retail banking.

  • Goldman to lay off 98 New York employees between July and October.

  • June 22- Goldman Sachs Group Inc told regulators on Wednesday it was laying off 98 employees in New York, according to a filing by the bank with the state Department of Labor. The employees, who were notified in April, May and June that they are losing their jobs, are part of the bank's third round of layoffs, according to a person familiar with the matter.

  • June 22- Goldman Sachs Group Inc plans to lay off 98 employees in New York between July and October, according to a filing by the bank with the state's Department of Labor.

  • BOSTON, June 20- Harvard University will rely more on outside money managers to oversee the Ivy League school's $37.6 billion endowment as it scales back on making direct stock picks, it said on Monday. Michael Ryan, head of public markets and absolute return strategies at Harvard Management Co, is leaving and more jobs in the internal equity team will be...

  • DUBAI, June 20- An effort to restructure indebted Saudi Arabian builder Mohammad Al Mojil Group was thrown into doubt on Monday when the firm said its board had resigned after three people involved with the company were sentenced to jail. Last week, the stock market regulator ordered MMG to pay it damages of 1.6 billion riyals and sentenced three people,...

  • ZURICH, June 16- LafargeHolcim will meet its targets for 2016 and beyond, Chief Executive Eric Olsen told Reuters, defying doubters who have sent the shares plunging 46 percent since the merger last year that created the world's biggest cement maker. France's Lafarge and Switzerland's Holcim joined forces in a $44 billion tie-up, promising to cut costs and...

  • Wal-Mart to slash hundreds of back-office jobs

    The retail giant plans to cut hundreds of accounting and invoicing jobs at 500 US stores.

  • The bank is planning to reduce headcount at its retail branches and reinvest into the sales force.

  • Bank of America, digital bar

    As many as 8,000 jobs are set to go at Bank of America's consumer arm as the digital banking revolution reduces the need for staff and bank tellers.

  • San Francisco- based Zenefits will lay off 106 people, or about 9 percent of the staff, according to an internal memo by Chief Executive Officer David Sacks seen by Reuters. It offers software for free and makes money acting as a health insurance broker, working as the middleman between businesses and providers such as Anthem Blue Cross, and charging a broker fee.

  • North Sea oil slump cutting 120K jobs across wider economy

    Oil and Gas UK claims a large number of workers in the industry and those that rely on the sector have lost their jobs due to the prolonged crude rout.

  • SEOUL, June 9- South Korea's central bank surprised markets by cutting interest rates to a record low 1.25 percent on Thursday, to cushion the economy against weak exports and the fallout from a massive restructuring of an ailing shipping industry. The 25 basis points reduction was the first cut since the Bank of Korea last lowered rates in June 2015.

  • June 8- Medical device maker Boston Scientific Corp said on Wednesday it would undergo a global restructuring program that is expected to save the company up to $150 million by 2020.. The company said it expects to incur total pre-tax charges of about $175 million to $225 million as a result of the program. The program, which will cut gross annual pre-tax...

  • MOSCOW, June 8- Goldman Sachs has laid off staff in Russia in recent months and more cuts are expected by the end of the summer after the U.S. firm posted weak first-quarter results, sources said. The cuts to headcount come as global investment banks have retreated from Russia because of an economic slowdown and Western sanctions over the Ukraine conflict.