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Business Events Layoffs

  • Dec 19- Boeing Co's commercial airplanes unit said on Monday it would reduce its workforce in 2017, adding to the about 8 percent jobs the company has cut since the beginning of 2016.. This year's job cuts include a 10 percent reduction of executives and managers, Boeing Commercial Airplanes said in an internal memo. Reuters had reported in February that Boeing...

  • Dec 18- Etihad Airways said on Sunday it is cutting jobs in some parts of its business as a part of its restructuring. An Etihad Airways spokesman said that a majority of those affected by the headcount reduction are through "natural attrition" and the vacancies will not be filled. Etihad, in a bid to strengthen its European network, struck a code sharing deal last...

  • LONDON, Dec 15- Some of the top banks in Europe have said this year that they plan to cut a total of fewer than 50,000 jobs, a sharp drop from the number announced in 2015. Data compiled by Reuters shows 17 of Europe's biggest banks have announced a total of about 46,000 staff cuts since the beginning of the year- 65 percent lower than the 130,000 job losses announced by...

  • LONDON, Dec 15- Job cuts announced by European banks have tumbled in 2016, as they work through a backlog of layoffs unveiled in previous years and struggle to find new areas where they can trim staff without threatening profitable operations. Some industry watchers say lenders might even recruit a little next year overall, provided the market rally following...

  • *About 1,600 staff in Sweden have volunteered to leave. The company said in October it was cutting about a fifth of its Swedish workforce and hundreds of consultants as it grappled with shrinking markets and competition from China's Huawei and Finland's Nokia. The company announced a plan in October to shed 3,000 jobs in production, research and development...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Mylan, whose shares were down more than 3 percent in mid-afternoon trading, has been under investigation by the U.S. government, and its chief executive officer was called before Congress to testify on raising the price of a pair of EpiPens to more than $600 from $100 in 2008.. At Tuesday's market close, its shares had fallen 25 percent since August, when it first...

  • Mylan has about 35,000 employees, the company's spokeswoman Nina Devlin said. The U.S. Senate Judiciary Committee in late November postponed a hearing planned on Mylan's $465 million settlement to resolve charges that it underpaid government healthcare programs by misclassifying its EpiPen treatment. Mylan has come under fire for raising the price of a...

  • Dec 7- Generic drugmaker Mylan NV said on Wednesday it may cut less than 10 percent of its global workforce as part of a restructuring program. Mylan has been under investigation and faced harsh criticism over steep price increases for its life-saving Epipen auto-injector, which is used for severe allergic reactions. The company said it would implement...

  • At that time the company also announced a cost-cutting plan that included lowering operating expenses in 2017 to about $350 million, compared with $450.9 million in 2015, and more than halving its 2017 capital budget to about $100 million. The company also forecast 2017 revenue, excluding certain items, of $2.10- $2.60 billion, well below analysts average...

  • Dec 7- SunPower Corp, the No. 2 U.S. solar panel maker, said on Wednesday it would lay off about 25 percent of its workforce, or 2,500 employees, and close one plant as part of a cost-cutting plan it announced last month. SunPower, majority owned by French energy giant Total SA, said it expects to incur restructuring charges of $225- $275 million through the end of 2017..

  • Dec 5- General Mills Inc, the maker of Cheerios cereal, said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer. As part of the new organizational structure, the company will be split into four business groups- North America retail, Europe& Australia, Asia& Latin...

  • SAO PAULO, Dec 1- Odebrecht SA, the engineering conglomerate that on Thursday agreed to a $2 billion leniency deal with prosecutors in Brazil's biggest graft case, is making progress selling assets and restructuring some businesses as part of a broad overhaul. In a statement, the company pledged not the engage ever again in improper business practices.

  • Layoffs fall to lowest level of 2016

    The Challenger report shows the level of layoffs announced by employers now hover close to a 16-year bottom.

  • *Weekly jobless claims increase 17,000. WASHINGTON, Dec 1- The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level in five months, but the underlying trend remained consistent with a healthy labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted...

  • A man tries out a new GoPro HERO5 Black during a press event last September.

    Despite strong holiday weekend sales GoPro announced a restructuring, including cutting 15% of jobs and closing its entertainment unit.

  • Nov 30- GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business. The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter. GoPro's shares were up 2.7 percent at $10.10 in premarket trading.

  • ALITALIA CONSIDERS 700-2,000 JOB CUTS IN LATEST OVERHAUL OF LOSS-MAKING AIRLINE, NO FINAL DECISION TAKEN- SOURCES.

  • BUENOS AIRES, Nov 23- Argentine business leaders agreed on Wednesday not to lay off workers without justifiable cause until March 2017, after unemployment rose amid a prolonged recession. They signed an agreement with Argentina's largest umbrella union after a meeting that was mediated by the federal government, which has been betting on the arrival of...