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  • China to lay off 5M to 6M workers in coal, steel sectors

    The country aims to tackle industrial overcapacity and curb pollution.

  • BEIJING, March 1- China aims to lay off 5-6 million state workers over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two reliable sources said, Beijing's boldest retrenchment programme in almost two decades. China's leadership, obsessed with maintaining stability and making sure redundancies do not lead to...

  • CHINA AIMS TO LAY OFF 5-6 MLN WORKERS OVER 2-3 YEARS AS IT CURBS OVERCAPACITY AND POLLUTION- SOURCES.

  • BEIJING, March 1- China aims to lay off 5-6 million workers from "zombie enterprises" over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two sources with ties to the country's leadership said. The restructuring of state-owned enterprises from 1998 to 2003 led to around 28 million redundancies and cost the central...

  • *Business surveys show further deterioration in China economy. SHANGHAI, March 1- Activity in China's manufacturing sector shrank more sharply than expected in February, surveys showed on Tuesday, prompting smaller companies to shed workers at the fastest pace in seven years and suggesting Beijing will have to ramp up stimulus to avoid a deeper economic...

  • *China c.bank cuts main RRR -50 bps. BEIJING/ SHANGHAI, Feb 29- China's central bank resumed its easing cycle on Monday, injecting an estimated $100 billion worth of long-term cash into the economy to cushion the pain from job layoffs and bankruptcies in industries plagued by overcapacity. The cut came just days after China used its role as host of the Group of 20 to...

  • Feb 29- Yahoo Inc said it may have to write down the goodwill value of Tumblr, more than two years after the web pioneer spent $1.1 billion to buy the microblogging site. Yahoo said on Friday it would take pretax charges of $64 million to $78 million, mostly in the first quarter of 2016, due to job cuts and other restructuring moves. Yahoo has said it would reduce...

  • YAHOO ESTIMATES $64- 78 MLN RESTRUCTURING CHARGES, MOSTLY IN. Feb 29- Yahoo Inc estimated that a plan to cut jobs and other restructuring moves would result in pretax charges of $64 million to $78 million, mostly in the first quarter of 2016.. Yahoo said on Feb. 2 it would reduce its workforce by 15 percent by the end of 2016 and close offices in Dubai, Mexico City, Buenos...

  • *China c.bank cuts main RRR -50 bps. BEIJING/ SHANGHAI, Feb 29- China's central bank resumed its easing cycle on Monday, injecting an estimated $100 billion worth of long-term cash into the economy to cushion the pain from job layoffs and bankruptcies in industries plagued by overcapacity. The PBOC's announcement also comes shortly before the annual meeting of...

  • China to lay off 1.8M workers in coal, steel sectors

    The country works to reduce industrial overcapacity and curb pollution.

  • 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...