Business Events Layoffs

  • BRIEF-PRADA TO EVALUATE SELECTIVE SHOP CLOSURES, DOWNSIZING@. April 11- Prada Strategic Marketing Director Stefano Cantino tells analyst call:. *Will evaluate selective shop closures or downsizing over the next two years.

  • April 7- Mashable Chief Executive Officer Pete Cashmore announced on Thursday that the online news website was reorganizing to focus on digital storytelling and television, a move that would result in the departure of "some" employees. The move comes roughly a week after Mashable raised $15 million in funding from Turner, a division of Time Warner Inc.

  • Victoria's Secret owner to reorganize

    L Brands plans to restructure its lingerie brand into three units.

  • The changes are aimed at narrowing the company's focus and simplifying the operating model, Chief Executive Leslie Wexner said on Thursday. Besides Victoria's Secret, L Brands owns Bath& Body Works and Other Brands, which includes La Senza and Henri Bendel. L Brands Inc said it would also eliminate about 200 corporate jobs at its Columbus and New York offices.

  • DETROIT, April 6- Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. In January, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne said the company would cease making the...

  • FIAT CHRYSLER SAYS WILL LAY OFF 1,300 WORKERS INDEFINITELY AS IT CUTS BACK PRODUCTION OF MIDSIZE CHRYSLER 200.

  • DETROIT, April 6- Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has...

  • BEIJING, April 3- Creditors in China's Bohai Steel Group have agreed to extend the maturity of their loans and lower the interest rates under a second restructuring plan for the troubled steelmaker, according to financial magazine Caixin on Sunday. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel...

  • LOS ANGELES, April 3- Nine months into a minimum wage hike at some Los Angeles hotels, city leaders and other backers of the move are claiming victory, saying doomsday forecasts from hoteliers have proven unfounded. "There have not been the wholesale layoffs or cutbacks that we were told would occur," said Los Angeles City Councilman Curren Price, who co-authored...

  • RIO DE JANEIRO, April 1- Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday it will launch a voluntary layoff program to cut an estimated 12,000 jobs in a bid to save up to 33 billion reais by 2020.. Under the plan, employees will be offered between around 212,000 reais and 706,000 reais to take redundancy, Deyvid Bacelar, the Petrobras...

  • BRASILIA, April 1- Executives of Brazil's state-run oil producer Petroleo Brasileiro SA approved a voluntary layoff program to cut about 12,000 jobs and save 33 billion reais by 2020, the company said in a statement on Friday. Petrobras plans to slash its five-year investment plan by about one-fifth to about $80 billion in the 2016-20 period, an average of...

  • Banking jobs in jeopardy?

    Martin Wolf of the Financial Times, discusses how advances in banking technology could prompt huge layoff in the industry. Also Wolf shares his thoughts on the "Brexit" debate.

  • *Weekly jobless claims increase 11,000. WASHINGTON, March 31- The number of Americans filing for unemployment benefits unexpectedly rose last week, but remained below a level associated with a strong labor market. Initial claims for state unemployment benefits increased 11,000 to a seasonally adjusted 276,000 for the week ended March 26, the Labor...

  • March 31- Peabody Energy Corp, the largest U.S. coal producer, said it would lay off about 235 employees at a mine in the Powder River basin, two weeks after the company flagged bankruptcy risk. The reductions affect about 15 percent of the workforce at the North Antelope Rochelle mine in the basin straddling Montana and Wyoming, the company said on Thursday.

  • A floor hand for Raven Drilling, pauses while drilling for oil in the Bakken shale formation outside Watford City, N.D.

    U.S. employers announced fewer layoffs in March than during the previous month, but job cuts in the first quarter, the Challenger jobs report says.

  • March 31- Peabody Energy Corp, the largest U.S. coal producer, said it would lay off about 235 employees at a mine in the Powder River basin, two weeks after the company flagged bankruptcy risk. The reductions affect about 15 percent of the workforce at the North Antelope Rochelle mine in the basin which straddles Montana and Wyoming, the company said on Thursday.

  • March 30- Global asset manager BlackRock Inc is planning to cut about 400 jobs, or 3 percent of its workforce, as it redirects resources to growth areas, a person familiar with the matter said on Wednesday. The New York- based company employed about 13,000 people globally as of Dec. 31. BlackRock Chief Executive Larry Fink said in January that while financial markets...

  • March 30- BlackRock Inc, the world's largest asset manager, is planning to cut about 400 jobs, or 3 percent of its workforce, Bloomberg reported, citing people with knowledge of the matter. The layoffs will be announced in the coming weeks, but the firm will continue to hire in key areas and expects to end the year with a higher headcount, Bloomberg reported.

  • March 30- Boeing Co plans to cut up to 8,000 jobs this year at its commercial airplane division, according to two people familiar with the matter, a move that could slash $1 billion in costs and help it battle for sales against European rival Airbus. "There is no employment reduction target," spokesman Doug Alder said. The job reductions are part of a broad...

  • Boeing to cut 4k jobs

    The planemaker will reduce its workforce in its commercial airplanes business.