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  • March 30- Boeing Co plans to cut up to 8,000 jobs this year at its commercial airplane division, according to two people familiar with the matter, a move that could slash $1 billion in costs and help it battle for sales against European rival Airbus. "There is no employment reduction target," spokesman Doug Alder said. The job reductions are part of a broad...

  • Boeing to cut 4k jobs

    The planemaker will reduce its workforce in its commercial airplanes business.

  • The planemaker will reduce 1,600 positions in the commercial airplanes division through voluntary layoffs, while the rest of the cuts are expected to be completed by leaving open positions unfilled, spokesman Doug Alder said. Boeing will also cut about 10 percent of the approximately 5,700 jobs in its test and evaluation division, which conducts flight and...

  • The planemaker will reduce 1,600 positions through voluntary layoffs, while the rest are expected to be done by leaving open positions unfilled, spokesman Doug Alder said. In February, Ray Conner, chief executive of Boeing's airplane business, warned employees that job cuts were necessary to "win in the market, fund our growth and operate as a healthy business."

  • Chinese laborers repair an oil pumping unit at Huabei oil field.

    PetroChina is “substantially overstaffed,” said Bernstein’s senior oil and gas analyst, Neil Beveridge.

  • March 23- The Oklahoma City Public Schools District will eliminate 208 classroom teaching positions to help grapple with a $30 million revenue shortfall, the district's top official said on Wednesday. Eliminating the teaching positions will save the state's largest school district roughly $8 million, Superintendent Rob Neu said in a memo to teachers.

  • LONDON, March 23- Credit Suisse's announcement on Wednesday that it will lay off thousands more employees from its trading operations shows how much ground Europe's big banks are losing to U.S. rivals in financial market trading. Last year, European banks grossed $26 billion from FICC while the U.S. banks made $43 billion, the data showed, meaning Europe's 26...

  • Credit Suisse to cut another 2K jobs

    The Swiss banking giant ups its cost cutting efforts amid challenging market conditions.

  • *Net inflows in Asia-Pacific, wealth management, universal bank. ZURICH, March 23- Credit Suisse Group on Wednesday announced 800 million Swiss francs in additional cost cuts and plans to shrink its investment bank further as it spurs a restructuring plan aimed at revitalising its earnings. The cuts include eliminating 2,000 jobs at its Global Markets...

  • Credit Suisse branch in Geneva, Switzerland.

    Credit Suisse Group is stepping up cost cuts including eliminating 2,000 jobs at its Global Markets business.

  • SHUANGYASHAN, China, March 20- Anticipating millions of layoffs from bloated state-owned coal and steel companies, Chinese authorities are shunting redundant workers into jobs in farming, forestry and public services. At the recent annual session of parliament China's leaders stressed that a major restructuring of the economy, stripping out excess...

  • March 18- United States Steel Corp said it would idle plants and lay off workers in Alabama, Ohio and Texas as it tries to keep a lid on costs to tackle a steep fall in steel prices. The company said the layoffs could impact 650 union and 120 non-union workers at Fairfield Tubular in Alabama, Lone Star Tubular in Texas and Lorain in Ohio, along with its Oilwell Services...

  • 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...