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Business Events Layoffs

  • Nov 17- Verizon Communications Inc's AOL digital media company will lay off 5 percent of its workforce, or about 500 employees, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Chief Executive Officer Tim Armstrong informed employees about the workforce cuts in an email on Thursday morning.

  • Tim Armstrong speaks onstage during the Building Brands People Love: A Fireside Chat with AOL’s Tim Armstrong on the Times Center Stage during 2016 Advertising Week New York on September 26, 2016 in New York City.

    AOL CEO Tim Armstrong said that most of the cuts will come in its corporate units. Recode reports.

  • AOL LAYS OFF 500 STAFF, RESTRUCUTURES TO FOCUS ON MOBILE, DATA, AND VIDEO- RECODE.

  • First Solar Inc.

    First Solar forecast sales well below estimates, and said it would slash about 1,600 jobs as it transitions to a new product ahead of schedule.

  • First Solar said it expected a loss per share of $4- $2 in 2016, compared with earnings of $3.75- $3.90 forecast earlier. The company said it expected pretax restructuring charges of $500 million- $700 million, anticipated primarily in the fourth quarter of 2016. http://bit.ly/2givx1p. First Solar forecast 2017 net sales of $2.5 billion- $2.6 billion, well below...

  • The company also forecast on Wednesday 2017 net sales of $2.5 billion- $2.6 billion, well below analysts' average estimate of $2.98 billion, according to Thomson Reuters I/B/E/S. First Solar said the restructuring is expected to result in pretax charges of between $500 million- $700 million, anticipated primarily in 2016.. The company warned earlier this month...

  • The latest cutbacks could increase the total number of jobs shed by the Switzerland- based company to more than 500 since May, a trade union leader said. Lucas DuBuis said the labour organisation would meet with workers at Richemont facilities throughout Switzerland on Tuesday in a bid to again keep actual layoffs to a minimum. Of Richemont's 28,250 employees...

  • NEW YORK, Nov 9- NARL Refining notified employees Wednesday of plans to shed up to 130 jobs at its Come By Chance refinery in Newfoundland, Canada, sources said, the latest refiner along the Atlantic Coast to undergo painful belt-tightening amid weak margins. "They remain the most vulnerable," said Sarah Emerson, a managing principal at ESAI Energy LLC.

  • NEW YORK, Nov 9- NARL Refining notified employees Wednesday of plans to shed up to 130 jobs at its Come By Chance refinery in Newfoundland, Canada, the latest refiner along the Atlantic Coast to undergo painful belt-tightening amid weak margins. "They remain the most vulnerable," Sarah Emerson, a managing principal at ESAI Energy LLC. Philadelphia Energy Solutions,...

  • GM said it will furlough the employees when it cuts the third shift at its Lordstown, Ohio and Lansing, Michigan plants in mid-January. GM also said it will invest $211 million at the Lansing plant for an unspecified "new product program." The company also will invest $668 million in its Toledo transmission plant for a new generation of transmissions.

  • *Forecasts Q3 op profit of 10 bln yen. TOKYO, Nov 9- Japan Display Inc said it is slashing 30 percent of its workforce, or 4,700 jobs, to improve profitability but added that concerns about its cash position have eased as it is seeing strong demand for its screens from Chinese smartphone makers. But Japan Display played down liquidity concerns on Wednesday, saying...

  • CFO SAYS FURTHER JOB CUTS PLANNED AFTER 24 PCT STAFF REDUCTION IN YEAR-TO-DATE.

  • *Shares rise as much as 6.77 pct to $13.40. Shares of the company, which reported strong growth in ad revenue, rose as much as 6.77 percent to $13.40 in morning trading on Thursday. The Wall Street Journal has started laying off employees and reducing the number of sections in the newspaper, while the New York Times said in April it would shut some of its Paris...

  • People walk along Wall Street in New York.

    October's total was the second-lowest of 2016, the Challenger report says.

  • *Weekly jobless claims increase 7,000. WASHINGTON, Nov 3- The number of Americans filing for unemployment benefits rose to near a three-month high last week, but remained below a level associated with tightening labor market conditions. Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 265,000 for the week ended Oct. 29,...

  • October job cuts down 31%: Report

    John Challenger, Challenger, Grey & Christmas CEO and YPO member, sifts through the latest employment data.

  • ING Group's plans to shed 7,000 jobs and invest in its digital platforms to make annual savings of 900 million euros ($1 billion) by 2021, drew swift criticism from unions.

  • BERLIN, Nov 2- Volkswagen's supervisory board will hold an extraordinary meeting on Friday, Nov. 4, to consult on a wide-ranging restructuring of the carmaker, two sources close to the board told Reuters on Wednesday. Europe's largest carmaker is under pressure to make cuts at high-cost operations in Germany to help to pay for a shift to electric cars and...

  • Nov 2- Marvell Technology Group Ltd said it plans to cut about 900 jobs globally and sell non-core assets in a bid to lower costs by as much as $190 million annually. The company expects to complete the restructuring by end of October next year and bring down costs to $820- $840 million annually from $1.08 billion. Marvell has about 5,300 employees, according to its...

  • BERLIN, Nov 2- The supervisory board of Volkswagen will hold an extraordinary meeting on Friday, Nov. 4, to consult on a wide-ranging restructuring of the carmaker, two supervisory board sources told Reuters on Wednesday. Herbert Diess, head of the German carmaker's core VW brand, wants to cut annual costs at the troubled division by 3.7 billion euros through 2021...