Business Events Layoffs

  • 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.

  • Airbus Group, parent of the plane maker, faces months of negotiations with unions after presenting a reorganization plan to the works council Tuesday in Toulouse, France. The cuts will be spread across four countries, with 640 jobs cut in France, 429 in Germany, 54 in Britain and 39 in Spain, Airbus spokesman Jacques Rocca said. Airbus Group CEO Tom Enders stressed...

  • 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...

  • TOULOUSE, France, Nov 23- Restructuring plans at planemaker Airbus could result in at least 1,000 job cuts, French union officials said on Wednesday. Details of "Project Gemini" are due to be presented to employees in Toulouse on Nov. 29, union officials said. Airbus Helicopters announced separately last month that it would carry out voluntary redundancies...

  • Oil workers in the Permian basin outside of Midland, Texas.

    As the price of crude shows little sign of revival, some parts of America's oil country are taking a much bigger hit than others.

  • FRANKFURT, Germany— Volkswagen's namesake brand hopes to bounce back from its diesel emissions scandal with a broad restructuring that will mean more battery-powered cars, digital services such as ride-sharing, and more SUVs for the U.S. market. Including the company's other brands, such as SEAT and Skoda, the Volkswagen Group expects to sell up to 3 million...

  • SAO PAULO, Nov 21- Banco do Brasil SA plans to save up to 3.1 billion reais in coming years by shedding up to 18,000 jobs and shutting hundreds of branches, the latest step by Chief Executive Officer Paulo Caffarelli to bolster profitability. Over the next year, the state-controlled lender is giving early retirement to employees, many of which have over 15 years of...

  • SAO PAULO, Nov 21- Banco do Brasil SA plans to save up to 3.05 billion reais by shedding up to 18,000 jobs, aiming to become a stronger digital player, boost returns and catch up with rivals, Chief Executive Office Paulo Rogêrio Caffarelli said on Monday. Caffarelli's steps to cut the size of Brazil's largest bank by assets aim to tackle a structure currently paying...

  • Nov 17- Verizon Communications Inc's AOL digital media unit will lay off 5 percent of its workforce, or about 500 people, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Chief Executive Officer Tim Armstrong informed employees about the cuts in an email on Thursday morning. Verizon bought AOL for $4.4...

  • Nov 17- Verizon Communications Inc's AOL digital media company will lay off 5 percent of its workforce, or about 500 employees, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Chief Executive Officer Tim Armstrong informed employees about the workforce cuts in an email on Thursday morning.

  • Tim Armstrong speaks onstage during the Building Brands People Love: A Fireside Chat with AOL’s Tim Armstrong on the Times Center Stage during 2016 Advertising Week New York on September 26, 2016 in New York City.

    AOL CEO Tim Armstrong said that most of the cuts will come in its corporate units. Recode reports.

  • AOL LAYS OFF 500 STAFF, RESTRUCUTURES TO FOCUS ON MOBILE, DATA, AND VIDEO- RECODE.

  • First Solar Inc.

    First Solar forecast sales well below estimates, and said it would slash about 1,600 jobs as it transitions to a new product ahead of schedule.

  • First Solar said it expected a loss per share of $4- $2 in 2016, compared with earnings of $3.75- $3.90 forecast earlier. The company said it expected pretax restructuring charges of $500 million- $700 million, anticipated primarily in the fourth quarter of 2016. http://bit.ly/2givx1p. First Solar forecast 2017 net sales of $2.5 billion- $2.6 billion, well below...

  • The company also forecast on Wednesday 2017 net sales of $2.5 billion- $2.6 billion, well below analysts' average estimate of $2.98 billion, according to Thomson Reuters I/B/E/S. First Solar said the restructuring is expected to result in pretax charges of between $500 million- $700 million, anticipated primarily in 2016.. The company warned earlier this month...