Business Events Layoffs

  • 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.

  • Employees pack boxes of SodaStreams at the factory in the West Bank Jewish settlement of Maale Adumim.

    Shares of SodaStream gained after reports that Keurig was discontinuing its Kold product line and laying off employees.

  • Ralph Lauren did not say how many employees would lose their jobs or how many stores it would close, but the Wall Street Journal said the retailer would cut 1,000 full-time jobs and close 50 mainly high-end shops. The company brought in Stefan Larsson late last year in the hope that he could replicate his success of reviving sales at Gap Inc's Old Navy.

  • ZURICH, June 7- Visitors say views through the glass floors in Schindler's Auckland Sky Tower elevators offer one of the most exhilarating lift experiences in the world. They will focus on special orders the company said would secure the site's competitiveness, justifying higher costs than at factories it opened this decade in China, Slovakia and India.

  • *Chairman Richard Elman to step down within 12 mths. SINGAPORE, June 3- Noble Group is raising $500 million in a rights issue and its chairman plans to step down within 12 months- the latest in unexpected measures this week as Asia's largest commodity trader struggles with the fallout from an accounting dispute and weak markets. The resignation plans by Chairman...

  • NEW YORK, June 2- Boeing Co plans to lay off 211 employees in Washington state on July 22, a state agency said, referring to a group that likely includes information technology workers that Boeing is letting go in a cost-cutting drive. The state Employment Security Department said late Wednesday that it had received notice of 211 layoffs planned by the company.

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

    U.S.-based employers announced the fewest layoffs in five months in May as job cutting fell significantly across several sectors.

  • The boards of the London Stock Exchange and Deutsche Boerse confirmed on Tuesday that they are discussing a potential merger.

    London Stock Exchange Group said its planned $30 billion merger with German rival Deutsche Boerse could result in 1,250 job cuts across the combined group.

  • NYSE Traders

    After deep cuts at big banks to begin 2016, there’s a hint of optimism in executives’ tone.

  • June 1- London Stock Exchange Group said its planned $30 billion merger with German rival Deutsche Boerse could result in 1,250 job cuts across the combined group and should eventually lead to 250 million euros in revenue benefits a year. The company, which owns Borsa Italiana and the London Stock Exchange, said about 160 million euros per year would come by the...

  • June 1- London Stock Exchange Group Plc said its almost $30 billion planned merger with German peer Deutsche Boerse could result in 1,250 job cuts across the combined group and should eventually lead to 250 million euros in revenue synergies a year. LSE's shareholders will be asked to approve the merger on July 4, the company said. Britons will vote on June 23 on...

  • *70 pct of Geoje Island's population relies on shipbuilding. *Korea wants to protect high-tech expertise from going offshore. GEOJE, South Korea, June 1- Geoje Island, off the southeastern tip of the Korean peninsula, appears as prosperous as ever: foreign cars cruise the streets, young mothers pushing strollers converge on coffee shops, and workers on motorcycles...

  • TORONTO, May 31- Bank of Nova Scotia on Tuesday reported second-quarter results which were below market expectations and increased funds set aside to cover bad loans by 40 percent as lending to energy companies turned sour. Net income for the second quarter which ended on April 30, excluding the restructuring charge, was C $1.86 billion, or C $1.46 per share,...

  • WASHINGTON, May 27- The strike by Verizon Communications Inc workers will likely trim U.S. nonfarm payroll growth in May by at least 35,000 jobs, a Labor Department report showed on Friday. The Verizon workers, including network technicians and customer service representatives in the company's Fios Internet, telephone and television services unit, walked off...

  • Shell ramping up job cuts

    The oil and gas giant is now planning to increase the number of layoffs by 20-percent.

  • Microsoft slashing 1,850 smartphone jobs

    The software giant announces another round of layoffs as smartphone sales continue to fall.