×

Business Events Layoffs

  • PARIS/ LONDON, Feb 18- The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are...

  • PARIS/ LONDON, Feb 18- The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are...

  • "These actions will produce about $20 million of annual savings relative to our 2016 exit operating expense run rate," Chief Executive Noah Breslow said in a statement on Thursday. The company's net loss attributable to shareholders widened to $35.9 million, or 50 cents per share, for the fourth quarter ended Dec. 31, compared with $4.6 million, or 7 cents per share, a...

  • Feb 16- Marketplace lender On Deck Capital Inc reported a wider loss for the fifth straight quarter and said it would reduce headcount by 11 percent. The company's net loss attributable to shareholders was $35.86 million, or 50 cents a share, for the fourth quarter ended Dec. 31, compared with $4.64 million, or 7 cents a share, a year earlier. Interest income rose about...

  • The company's net loss attributable to shareholders widened to $275.1 million, or $1.99 per share, in the fourth quarter ended Jan. 1, from $40.5 million, or 29 cents per share, a year earlier. SunPower said it recorded a $175.8 million charge related to restructuring expenses in the latest quarter, compared with $31.2 million a year earlier. The company, majority...

  • *Q4 loss 2.35 bln Sfr vs 2.01 bln Reuters poll estimate. ZURICH, Feb 14- Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no longer include floating the bank's Swiss business. The additional job cuts come after Switzerland's second-biggest bank...

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • Goldman Sachs

    Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy.

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • NEW YORK— Sears may sell more locations, cut more jobs and put more of its famous brands on the block as part of its latest plan to revive the faltering retail chain. Sears had already announced last month the closing of 150 of its 1,500 stores. Sears had about 178,000 employees in the U.S. last year.

  • SAN FRANCISCO, Feb 9- Zenefits is laying off nearly half its staff as the software startup grapples with the fallout of insurance violations that resulted in hefty penalties from state regulators. Employees were alerted to the layoffs in a memo sent by Jay Fulcher, who started as the San Francisco- based company's CEO on Monday. Fulcher said Zenefits would move...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, as the firm's Indian owner Tata Steel Ltd's presses on with restructuring its European operations. The deal, which is subject to regulatory clearances, secures 1,700 jobs, mostly in South Yorkshire in the north of England, Britain's...

  • NEWARK, Del.— B.F. Rich Windows& Doors is shutting down, laying off all of its roughly 130 workers. The News Journal of Wilmington reports the Ogletown- based business that manufactures energy-efficient doors and windows told employees and customers this week that it plans to close later this month. Founded in 1957, B.F. Rich serves 15 states along the East Coast...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, part of Indian owner Tata Steel Ltd's drive to restructure its European operations. Today's news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK, "...

  • Twitter's net loss widened to $167.1 million, or 23 cents per share, in the fourth quarter ended Dec. 31, from $90.24 million, or 13 cents per share, a year earlier. Restructuring charges in the latest quarter ballooned to $101.2 million from $12.9 million a year earlier. Revenue rose 1 percent to $717 million.

  • Feb 8- Corn Flakes maker Kellogg Co said on Wednesday it would stop distributing its U.S. snacks business' products directly to stores and switch to its more widely used warehouse model to cut costs and adapt to a changing retail landscape. The distribution model change is part of an expanded "Project K" program, which Kellogg launched in 2013 to save up to $475...

  • CANONSBURG, Pa.— A spinoff of Consol Energy has laid off 200 coal miners because of a state environmental ruling limiting mining beneath a creek in a state park in western Pennsylvania. CNX Coal Resources issued the temporary layoff notices Tuesday at its Bailey Mine complex. The company is contesting last month's ruling by the state Environmental Hearing...

  • ABERDEEN, S.D.— The South Dakota Department of Labor has launched a program to help laid-off employees of a fiberglass supplier in Aberdeen. Dan Thielsen, manager of the department's office in Aberdeen, organized the program after receiving notice of the company's imminent layoffs last week, the Aberdeen American News reported. "Fortunately we have a lot of...

  • *UK banks must separate retail, investment banking operations. LONDON, Feb 5- Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business. While Barclays was not among those that needed a UK...

  • MILAN, Feb 4- Italy's biggest bank UniCredit said on Saturday it had signed a deal with trade unions to cut 3,900 jobs in the country as it prepares to launch a record 13 billion euro share issue next week. The cuts in Italy will be carried out on a voluntary basis and UniCredit has committed to hiring 1,300 people over the next three years. To offset fourth-quarter...