Business Events Layoffs

  • *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.

  • Halliburton oil fracking

    Halliburton said it cut more than 6,000 jobs in the first quarter and said it would hold its earnings conference call on May 3 instead of April 25.

  • April 22- Halliburton Co said on Friday that it cut more than 6,000 jobs in the first quarter, during which revenue slumped 40.4 percent and it took a $2.1 billion restructuring charge mainly for asset write-offs and severance costs. The No.2 oilfield services provider also said it would now hold its earnings conference call on May 3, instead of April 25, to...

  • DETROIT, April 22- Steve Girsky, the one-time Wall Street analyst who was instrumental in the emergence of General Motors Co from bankruptcy and the restructuring of the company after a 2009 government bailout, is retiring from the company's board of directors, GM said on Friday. Girsky led restructuring efforts at Opel, GM's primary brand in Europe, and pushed GM...

  • The company said it would record a pretax restructuring charge of $1.2 billion in the second quarter.

  • NEW YORK, April 15- Sprint Corp said on Friday it has extended LTE Plus, a network improvement that offers customers its fastest network and higher data speeds to New York City and 190 other markets. Overland Park, Kansas- based Sprint has been giving customers half-off discounts to switch to its service and cutting costs to the tune of $2.5 billion by slashing jobs...

  • April 15- Intel Corp is planning to cut thousands of jobs this spring, including reducing headcount in some business units by double-digit percentages, news website Oregonlive said, citing sources inside the company familiar with the plan. The job cuts at the world's largest chipmaker this year will be considerably larger than the more than 1,100 U.S. jobs...

  • COLORADO SPRINGS, Colo., April 14- United Launch Alliance plans to cut up to 875 jobs, or about one-quarter of its workforce, before the end of 2017 to better compete against rivals bankrolled by billionaire entrepreneurs including Elon Musk and Jeff Bezos, ULA's chief executive said on Thursday. In an interview with Reuters, ULA CEO Tory Bruno said another 400 to...

  • COLORADO SPRINGS, Colo., April 14- United Launch Alliance plans to cut up to 875 jobs before the end of 2017 to better compete against rivals bankrolled by billionaire entrepreneurs including Elon Musk and Jeff Bezos, ULA's chief executive officer said on Thursday. ULA, a partnership of Lockheed Martin Corp and Boeing Co, expects a first round of 375 job cuts to be...