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Business Events Layoffs

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  • *Restructuring costs to total over 200 bln yen- source. TOKYO, March 19- Japan's loss-making Sharp Corp intends to cut 12 percent of its workforce in a global restructuring expected to cost more than $1.7 billion, a person familiar with the plan said on Thursday. The job cuts will total around 6,000, half of which would come in Japan through early retirement while...

  • March 18- Sharp Corp is cutting more than 10 percent of its Japanese workforce starting in April, according to a Nikkei report. The embattled electronics manufacturer will slash about 3,000 jobs through voluntary retirements and expects to book about 30 billion yen in retirement-related expenses for 2015, the business daily said. The company could also cut...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, has begun to cut some 340 employees in North America, and started...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, will cut approximately 340 employees in North America and 60 at its UK...

  • Tesla is shedding jobs after missing sales target Monday, 9 Mar 2015 | 6:36 AM ET
    The interior of the Tesla Model D

    Tesla Motors said it is cutting jobs in China under a restructuring plan launched earlier this year, after missing a sales target.

  • HONG KONG, March 9- Chinese property developer Kaisa Group Ltd has proposed cutting the interest and extending the maturities of its offshore bonds in a critical debt restructuring plan it needs to get creditors to agree to or risk defaulting on payments. Kaisa, mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...

  • Corrects Hercules Offshore item to change date of announcement of job cuts to Feb. 12 from Feb. 3) Feb 17 (Reuters)- Oilfield services 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 nearly halved since June.

  • February job cuts top 50,000: Challenger Thursday, 5 Mar 2015 | 7:30 AM ET
    February job cuts top 50,000: Challenger

    John Challenger, Challenger CEO, provides the latest read on layoffs and unemployment. According to the most recent numbers, 38% of all cuts this year are coming from the energy sector.

  • LONDON, March 4- Royal Bank of Scotland has yet to decide how many jobs it will cut at its investment bank after announcing a major downsizing of the business last week, its Chief Executive Ross McEwan said on Tuesday. RBS is shrinking its investment banking operations dramatically, pulling out of 25 countries in Europe, Asia and the Middle East while cutting jobs...

  • March 3- U.S. retailer Target Corp, which has been battling back after a massive data breach and sluggish performance, on Tuesday said it will eliminate several thousand jobs, mainly from headquarters locations in the United States and India, as it aims to cut $2 billion in costs over two years. Target said the job cuts would primarily come from corporate locations...

  • BEIJING, March 2- China's slowing economy will be at the forefront as parliament convenes for its annual meeting this week, with a weekend interest rate cut a reminder of the challenge of balancing painful restructuring with combating the onset of deflation. Senior leaders at the National People's Congress, which opens on Thursday, will send an unambiguous...

  • SINGAPORE, March 2- Malaysia Airlines is re-negotiating contracts, reviewing its fleet and routes, and identifying almost a third of staff to lay off as part of a state-led restructuring programme, owner Khazanah Nasional Bhd said on Monday. The sovereign wealth fund's update on Malaysian Airline System Bhd is the first since it took the carrier private in...

  • Target hit by layoffs as Canada winds down Wednesday, 11 Feb 2015 | 11:56 AM ET
    Customers arrive at a Target store in St. Albert, Alberta, January 15, 2015.

    Target plans to lay off about 720 people as the retailer winds down its operations in Canada.

  • Layoffs hit nearly 2-year high in Jan: Challenger Thursday, 5 Feb 2015 | 7:58 AM ET
    Pink slip job cut

    Employers cut 53,041 jobs in January, led by energy sector layoffs, Challenger, Gray & Christmas reported.

  • Weatherford to cut 5,000 jobs as it fights oil slump Thursday, 5 Feb 2015 | 7:41 AM ET
    Weatherford International signage

    Weatherford plans to cut 5,000 jobs by the end of the first quarter as it tries to save costs amid sinking oil prices and budget cuts.

  • HOUSTON— Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000- plus workers Baker Hughes says it employs worldwide. Oil services rival Halliburton had announced in November it...

  • Halliburton, Baker Hughes see a tough 2015 Tuesday, 20 Jan 2015 | 10:22 AM ET
    Halliburton oil fracking

    Baker Hughes and Halliburton posted better-than-expected profits, but warned that a drop in drilling due to weak oil prices would hurt results in 2015.

  • 7 habits of highly successful businesses Monday, 12 Jan 2015 | 11:40 AM ET
    Stock chart

    Here are 7 ways market leaders stay ahead of the competition — and ahead of the curve.

  • 2014 saw fewest job cuts since 1997: Challenger Thursday, 8 Jan 2015 | 7:41 AM ET
    Job cuts pink slip

    The number of planned layoffs by U.S. employers fell 9.2 percent in December, capping off a year that saw the fewest job cuts since 1997.

  • Atlantic City is eager for this after its worst year Monday, 29 Dec 2014 | 8:17 AM ET
    The Showboat Casino in Atlantic City, New Jersey.

    Few people are more eager to see the clock strike midnight on Dec. 31 than Atlantic City casino workers who still have jobs there.