Business Events Layoffs

  • BRASILIA, May 12- Brazilian telecoms group Oi SA reported a net loss on Thursday due to competitive pressures against the backdrop of the country's economic downturn, plus the cost of a big debt burden that the company is trying to restructure. Revenue fell 4 percent as Brazil's worst recession in decades squeezed consumer spending on communications services,...

  • BRASILIA, May 11- Brazil's retail sales fell more than expected in March as a surge in unemployment hurt supermarkets and food vendors, frustrating hopes that consumer spending was stabilizing after dropping sharply during the country's deep recession. Retail sales volumes excluding cars and building materials in Brazil fell 0.9 percent in March from...

  • WASHINGTON, May 10- U.S. job openings increased in March to the highest level in eight months and layoffs continued to decline, indicating the labor market remains fairly robust despite April's slowdown in employment gains. "The data generally remain upbeat and it does not look like there has been any material weakening in the health of the labor market lately,"...

  • ZURICH, May 10- Credit Suisse sees tough market conditions continuing at least through the second quarter, the Swiss bank said on Tuesday after kicking off 2016 with its first loss since 2008.. Zurich- based Credit Suisse posted a 302 million Swiss franc loss for the first three months of 2016, as Chief Executive Tidjane Thiam pursued a painful restructuring.

  • BUENOS AIRES, May 9- Argentina's President Mauricio Macri asked business and union leaders on Monday to avoid layoffs for 90 days, as the center-right leader faces heat for thousands of jobs lost since he took office in December. "We must protect Argentine jobs," said Macri, adding that quality, value-added jobs must be created. At the same time, the opposition is...

  • SEOUL, May 9- South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder by revenue, will slash more jobs and sell non-core assets as part of efforts to cope with shrinking orders, it said on Monday. Companies such as Daewoo Shipbuilding& Marine Engineering and the country's No. 1 shipping company Hanjin Shipping have already had to undergo...

  • WASHINGTON, May 5- The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30, the...

  • The company said it expected to incur pre-tax charges of about $2.25 million- $3.0 million related to the restructuring, expected to be completed by Dec. 31. Glu expects to take about $750,000- $1.5 million in lease, contract termination and other costs over the year that started in April. The company reported a net loss of $8.6 million, or 7 cents per share, compared...

  • *Q1 net profit 707 Sfr mln vs poll f'cast 704 mln Sfr. ZURICH, May 3- UBS plans job cuts to help save hundreds of millions of dollars in its wealth management business, after the Swiss bank's first-quarter net profit fell by nearly two-thirds due to wary clients investing less. Although this was roughly in line with the average estimate of 704 million francs in a...

  • A picture taken on March 9, 2016 shows towers under construction at the King Abdullah Financial District in the Saudi capital Riyadh. Towers in the complex are being built by the Saudi Oger company and other constructors. The unfinished buildings stand as a symbol of the hard times faced by Saudi Oger.

    Construction company Saudi Binladin, founded by Osama bin Laden's father, reportedly laid off 50,000 staff, as cheap oil spurs government spending cuts.

  • *Shareholders approve Africa unit selldown. LONDON, April 28- Barclays Chairman John McFarlane has pledged to deliver a "clean and prosperous" 2018 to investors, putting a deadline on a vast program of restructuring and asset sales that will cause staffing numbers to fall by 50,000.. Investors grilled Staley and McFarlane in a generally good-natured...

  • FRANKFURT, April 28- Deutsche Bank posted a surprise net profit in the first quarter that was helped by lower litigation costs, lifting its shares, and said it saw 2016 as the peak of a restructuring drive. Germany's flagship lender said on Thursday its quarterly net income fell 58 percent to 236 million euros after a slump by its investment bank in volatile...

  • LONDON, April 28- Barclays Chairman John McFarlane has pledged to deliver a "clean and prosperous" 2018 to investors, putting a deadline on a vast program of restructuring and asset sales that will see staffing numbers fall by 50,000.. Speaking at the bank's annual general meeting in London on Thursday, McFarlane thanked investors for their patience while...

  • TOGLIATTI, Russia, April 27- In the heartland of Russia's struggling car-making industry, people blame foreigners for their economic hardship, not their country's rulers. The Volga river city of Togliatti is the nearest there is to a Russian version of Detroit, and it was hit hard when Russia's economy slowed down, aggravated by a fall in global oil prices and...

  • WASHINGTON, April 26- China's massive corporate debt problem could be eased through debt-to-equity conversions or securitization of non-performing loans, the International Monetary Fund said on Tuesday, but only if these apply to viable firms that undergo restructuring. The IMF said in a blog posting on its website that it welcomes recent statements by...

  • The changes are part of an effort to simplify the editing and production processes of the International New York Times, and roles involved with those operations will be moved to New York and Hong Kong, according to the memo. The company said in a filing with the U.S. Securities and Exchange Commission that it expected to incur about $15 million in costs related to...

  • Freeport, which had a total of 34,500 employees as of Dec. 31, reported another loss for the first quarter and said it expected to record a charge of about $40 million in the second quarter related to the job cuts and other restructuring costs. The net loss attributable to common stockholders was $4.18 billion, or $3.35 per share, compared with a loss of $2.47 billion,...

  • Freeport, which had a total of 34,500 employees as of Dec. 31, said it expected to record a charge of about $40 million in the second quarter related to job cuts and other restructuring costs. The net loss attributable to common stockholders was $4.18 billion, or $3.35 per share, compared with a loss of $2.47 billion, or $2.38 per share, a year earlier.

  • Layoff, fired

    As companies announce layoffs in conjunction with earnings, investors should pay more attention to revenue, according to one expert.

  • Halliburton cut jobs, delays earnings call

    The oilfield-services company disclosed it cut six thousand jobs in the quarter ended March 31.