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Business Events Layoffs

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  • WASHINGTON— Fewer people sought U.S. unemployment benefits last week, evidence that employers remain confident in the economy and are laying off few workers. The Labor Department said Thursday that weekly applications for unemployment aid dropped 6,000 to a seasonally adjusted 271,000. The four-week average, a less volatile measure, ticked up 1,000 to...

  • Aug 27- Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would lower its capital budget for mining in 2016 by 25 percent, or $700 million, as commodity prices continue to weaken.

  • Rovio jobs on the chopping block Wednesday, 26 Aug 2015 | 8:00 AM ET
    Rovio jobs on the chopping block

    Maker of angry birds may have some (former) workers very angry indeed.

  • Angry Birds maker Rovio plans layoffs in restructuring Wednesday, 26 Aug 2015 | 7:52 AM ET

    HELSINKI— Popular mobile game maker Rovio Entertainment says it plans to restructure its business and lay off up to 260 people because the company took on "too many things" during the past few years. The layoffs will affect the whole organization, excluding teams working on the Angry Birds Movie in the United States and Canada, expected for release in May 2016.

  • La Salle University lays off 3 percent of workforce Wednesday, 26 Aug 2015 | 6:31 AM ET

    PHILADELPHIA— La Salle University's new president has announced the Philadelphia school has laid off 23 employees just two months into her tenure. Colleen Hanycz says she knew La Salle needed to make some changes but the cuts weren't something she anticipated. The Philadelphia Inquirer reports a $12 million deficit and a declining freshman enrollment is to...

  • Boeing prepares for layoffs Tuesday, 25 Aug 2015 | 6:00 AM ET
    Boeing prepares for layoffs

    Boeing workers brace for layoffs in the satellite business.

  • WASHINGTON, Aug 24- Boeing Co on Monday told its workers that it expected to cut as many as "several hundred" jobs in its satellite business through the end of 2015 due to a downturn in U.S. military spending and delays in commercial orders. Multiple commercial orders were being delayed by recent failures of launch vehicles and uncertainties about the future...

  • HAVANA, Aug 24- Austerity measures and the restructuring of Cuba's Soviet-style economy have reduced spending on research and development by close to 50 percent over the last five years, according to a government report released last week. President Raul Castro's government has imposed strict austerity measures since he replaced his ailing brother Fidel...

  • FAIRFIELD, Ala.— U.S. Steel Corp. said Monday that it will close its Fairfield Works mill, one of the largest remaining pieces from Birmingham's years as a Southern steel-making giant. "Any time you're talking about a major layoff, it's no good news at all," Fairfield Mayor Kenneth Coachman said. The plant is just outside the city limits of its namesake town, but...

  • Tyson Foods ends beef production at Iowa plant Friday, 14 Aug 2015 | 1:16 PM ET

    NEW YORK— Tyson Foods said Friday it will end beef production at a plant in Denison, Iowa, laying off about 400 workers as it cuts back on its capacity. Tyson Foods said its Denison plant employees will be able to apply for jobs at other Tyson locations, and it plans to offer financial incentives to hourly workers who qualify for openings at a facility in Lexington,...

  • Layoffs on the way for Lenovo Thursday, 13 Aug 2015 | 8:00 AM ET
    Layoffs on the way for Lenovo

    Lenovo announces 3200 layoffs after Motorola unit tanks.

  • Kraft Heinz slashes jobs Wednesday, 12 Aug 2015 | 10:00 AM ET
    Kraft Heinz slashes jobs

    Kraft Heinz laying off 2,500 employees.

  • UPDATE 1-Kraft Heinz to cut 2,500 jobs in U.S. and Canada Wednesday, 12 Aug 2015 | 9:48 AM ET

    Aug 12- Kraft Heinz Co said it will eliminate 2,500 jobs in the United States and Canada, including about 700 at its headquarters in Northfield, Illinois. Kraft Heinz currently has about 46,000 employees, including about 1,900 at the company's headquarters, spokesman Michael Mullen in an emailed statement to Reuters on Wednesday. The combined Kraft Heinz has...

  • Kraft Heinz to cut 2,500 jobs in US, Canada Wednesday, 12 Aug 2015 | 8:55 AM ET
    Kraft Macaroni & Cheese and Heinz Tomato Ketchup

    Kraft Heinz said it will cut 2,500 jobs in the U.S. and Canada following the creation of the company through the merger of Heinz and Kraft.

  • McDonald's cuts 225 corporate jobs in July Friday, 7 Aug 2015 | 7:46 AM ET
    Pedestrians walk by a McDonald's location in New York.

    McDonald's said on Thursday it laid off in July 135 employees at its U.S. headquarters and 90 employees posted overseas as part of a restructuring.

  • WASHINGTON, Aug 7- The number of U.S. jobs probably rose at a healthy pace in July and wages likely rebounded in data due on Friday, providing further signs of an improving economy that could allow the Federal Reserve to raise interest rates in September. The Labor Department will release its closely watched employment report on Friday at 8:30 a.m..

  • LOS ANGELES, Aug 6- McDonald's Corp said on Thursday it laid off in July 135 employees at its U.S. headquarters and 90 corporate employees posted overseas as part of a major restructuring at the fast-food chain, which has been fighting to reverse a long sales slump. McDonald's Chief Executive Steve Easterbrook in May announced plans cut $300 million in costs by...

  • US layoffs hit nearly 4-year high in July: Challenger Thursday, 6 Aug 2015 | 7:30 AM ET
    US Marines board a transport aircraft headed to Kandahar, Afghanistan

    Job cuts surged to 105,696 in July as the military announced plans to reduce troop and civilian workforce payrolls.

  • Job cuts soar to highest level in 4 years: Challenger Thursday, 6 Aug 2015 | 7:30 AM ET
    Job cuts soar to highest level in 4 years: Challenger

    John Challenger, Challenger, Gray and Christmas CEO, breaks down the latest jobs numbers and weighs in on what's likely prompting the layoffs.

  • Chevron earnings plummet Friday, 31 Jul 2015 | 10:00 AM ET
    Chevron earnings plummet

    Chevron misses big with Q2 earnings; posts its worst profit in almost 13 years.