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  • BEIJING, Feb 29- China said on Monday it expects to lay off 1.8 million workers in the coal and steel industries, or about 15 percent of the workforce, as part of efforts to reduce industrial overcapacity, but no timeframe was given. China's coal and steel sectors employ about 12 million workers, according to data published by the National Bureau of Statistics.

  • BEIJING, Feb 29- China's Premier Li Keqiang said a 100 billion yuan fund for unemployment will mainly focus on the steel and coal sectors. Treasury Secretary Jack Lew on Monday. China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security...

  • BEIJING, Feb 29- China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security ministry said on Monday. Yin Weimin, minister of human resources and social security, said capacity cuts will lead to some layoffs in 2016, but added that he was...

  • David Sacks, CEO, Zenefits

    Zenefits said today that it has laid off 250 employees, mostly in its sales recruiting organization. Re/code reports.

  • Deere shares were up about 0.06 percent at $79.66 and Caterpillar shares were 0.74 percent higher at $66.93 in late afternoon trading. Deere, a leading maker of farm and construction equipment, said 100 employees represented by the United Auto Workers will be laid off indefinitely starting April 1 at two factories in Iowa that make construction and forestry...

  • NEW YORK, Feb 26- Boeing Co said on Friday that it is considering layoffs of airplane engineers, a plan that it said may cause it to reorganize or consolidate its engineering teams, according to an internal memo seen by Reuters. "We do not intend to backfill for people who retire from their executive or management0 roles unless the position is absolutely vital to...

  • NEW YORK, Feb 26- Boeing Co said on Friday that it is considering whether to offer voluntary layoffs to its airplane engineers, according to a source familiar with the matter.

  • Halliburton to slash 5k jobs

    The oilfield services company is reducing its workforce further amid the rout in oil prices.

  • Feb 25- Oilfield services provider Halliburton Co, pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, company spokeswoman Emily Mir told Reuters on Thursday. The company had about 65,000 employees worldwide at the end of 2015, compared with more than 80,000 at Dec. 31, 2014, according to a...

  • BEIJING, Feb 25- China will allocate 100 billion yuan over two years to relocate workers laid off as a result of China's efforts to curb overcapacity in sectors like steel, the Ministry of Industry and Information Technology said on Thursday. China has vowed to tackle price-sapping supply gluts in major industrial sectors, and said earlier this month that it...

  • BEIJING, Feb 25- China will allocate 100 billion yuan over two years to relocate workers during China's industrial restructuring, the Ministry of Industry and Information Technology said on Thursday. Relocating workers was the main problem that needed to be solved in restructuring Chinese industry, vice-minister Feng Fei told a news conference in Beijing.

  • The restructuring will result in charges and associated cash payments of about $300 million in the current year, the company said. "This move is basically HP Inc embracing the tough pricing environment and shifting their focus to building their portfolio," says Shannon Cross, an analyst for Cross Research. The company, which is reporting results independently...

  • The world's largest construction and mining equipment maker will create an Electric Power, Marine and Oil& Gas Division by consolidating the Electric Power and Marine& Petroleum Power Divisions, it said on Wednesday. Steve Niehuas, currently vice president of the Electric Power Division will retire after 27 years with the company. We'll evaluate those in the...

  • *Cuts capex to $900 mln- $1 bln from $1.5 bln- $1.7 bln. The oil and gas producer cut its capital budget for 2016 to $900 million- $1 billion from $1.5 billion- $1.7 billion it forecast earlier as a steep drop in oil prices forces the company to focus on core assets and lower costs. The company is focusing on the Permian and Eagle Ford shale fields in Texas, and the Duvernay...

  • Feb 24- Canada's Encana Corp cut its capital budget and production target for 2016 and said it would slash more jobs as the company struggles to cope with a steep fall in oil prices. The oil and natural gas producer also slashed its capital spending target to $900 million- $1 billion from $1.5 billion- $1.7 billion it forecast earlier. Excluding items, the company...

  • The company said in October that it had hired Goldman Sachs Inc to advise on its options, including a sale. The restructuring is expected to generate about $67 million in savings in 2016 and annualized savings of about $100 million beginning in 2017, Lexington, Kentucky- based Lexmark said. The company also reported a 5 percent drop in revenue to $968.8 million...

  • *Posts annual pretax loss of $1.5 billion. *Underlying pretax profit $800 mln vs forecast of $899 mln. LONDON, Feb 23- Standard Chartered reported its first annual loss since 1989 as hefty restructuring costs and weak commodity prices took their toll on the emerging markets-focused lender.

  • Feb 17- Yahoo Inc on Wednesday said it would cut more than 300 jobs by April 18, as part of 1,500 layoffs announced earlier, San Francisco Chronicle reported. The company also plans to shut down its Burbank office, affecting 90 employees, according to San Francisco Chronicle. The layoffs affect people in Yahoo's media division, as well as employees in other roles...

  • NetApp said it expected a profit of between 55 cents and 60 cents per share for the current quarter. Net income fell to $153 million, or 52 cents per share, in the third quarter ended Jan. 29 from $177 million, or 56 cents per share, a year earlier. Analysts estimated a profit 68 cents per share on revenue of $1.45 billion.

  • Feb 17- American Express Co said it would overhaul its management, streamline its marketing operations and cut jobs as it looks to reduce $1 billion in costs over the next two years. "At this time, we do not know what the magnitude of those reductions will be, as decisions on specific positions affected are yet to be made," AmEx Chief Executive Kenneth Chenault said.