Business Events Layoffs

  • WASHINGTON— More Americans sought unemployment benefits last week but the number of applications remained low, the latest sign that layoffs are scarce. THE NUMBERS: The Labor Department said Thursday that weekly applications for jobless aid rose 3,000 to a seasonally adjusted 254,000. The four-week average, a less volatile measure, ticked down to 256,000,...

  • BERLIN— German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The Frankfurt- based bank says that to cover restructuring costs of some 1.1 billion euros, it will cease dividend payments "for the time being and will retain its full earnings." Commerzbank AG currently has some...

  • COPENHAGEN, Denmark— Danish drug maker Novo Nordisk says it plans to lay off some 1,000 employees globally to reduce operating costs because of "a challenging competitive environment, especially in its large U.S. market." Copenhagen- based Novo Nordisk said Thursday the layoffs will affect its research and development departments, headquarters staff...

  • BERLIN— Struggling German airline Air Berlin says it plans to cut its fleet nearly in half and eliminate some 1,200 jobs as part of a restructuring to develop a leaner structure and focus on its most profitable routes. The airline said Wednesday that it would reduce its fleet of 144 planes by 75 as it concentrates on flights originating from Berlin and...

  • PITTSBURGH— The Pittsburgh Tribune-Review newspaper plans to stop its print edition Nov. 30 and offer an online-only publication in a reorganization that will also require 106 layoffs, its publisher announced Wednesday. Trib Total Media will continue publishing two daily print editions for the suburbs, the Greensburg- based Westmoreland edition of the...

  • GUANICA, Puerto Rico— Puerto Ricans are buying rice produced on the island for the first time in nearly 30 years. Agriculture is a small part of the economy in Puerto Rico, well behind manufacturing, finance and tourism. Congress gave the territory some breathing room in June with legislation to enable the restructuring of what the governor has called its "...

  • SAO PAULO, Sept 27- Brazil's robusta coffee industry is laying off workers who transport, process and store the commodity in warehouses that are nearly idle two years into the worst drought in eight decades, according to traders and industry executives. At current prices, Brazil's 2016 robusta crop is worth $1.2 billion. Despite a major recovery in arabica...

  • Brian Moynihan, chairman and CEO of Bank of America.

    Bank of America is set to cut about two dozen investment banking jobs in Asia, including some top dealmakers starting this week.

  • BEIJING, Sept 26- China has launched a 350 billion yuan state enterprise restructuring fund to advance its' supply-side' reforms as the world's second-largest economy undergoes its most significant transformation in two decades. China has made reform of its lumbering and uncompetitive state-owned enterprises a priority as weak global demand drags on...

  • Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia in response to a slowdown in activity in the region.

  • BEIJING, Sept 26- China has launched a 350 billion yuan restructuring fund as the government pushes' supply-side' reforms that have included mergers of inefficient state enterprises and laying off workers in struggling sectors such as coal and steel. The China State-owned Enterprises Restructuring Fund will be managed by the State-owned Assets...

  • LONDON, Sept 23- Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters. Most of the jobs cuts are likely to take place in Hong Kong, Singapore and China, where Goldman's main Asian offices are located, they added.

  • GOLDMAN SACHS CUTTING NEARLY 30 PERCENT OF 300 INVESTMENT BANKING JOBS IN ASIA EXCLUDING JAPAN- SOURCES.

  • TOGLIATTI, Russia, Sept 23- Russian carmaker Avtovaz has a civic responsibility to preserve jobs, the company's new chief executive told Reuters, rowing back on a politically sensitive policy of redundancies in the face of plummeting sales and record losses. In his first extended interview with foreign media since majority owners Renault and Nissan put him in...

  • *Ericsson says job cuts to be made worldwide, Sweden not excluded. STOCKHOLM, Sept 22- Mobile telecoms equipment maker Ericsson plans to close the last of its Swedish manufacturing sites as part of planned savings, cutting about 3,000 jobs, Swedish daily Svenska Dagbladet reported. The decision ends 140 years of production in Sweden for the company that began as a...

  • TORONTO, Sept 21- The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, which has been in creditor protection since September 2014, and the court supervising the company's credit protection proceeding, Ontario's government said in a statement. Steel Canada's plants in...

  • *U.S. to provide Israel $38 bln in military aid over 10 years. Deal phases out Israel ability to spend 26.3 pct locally. JERUSALEM, Sept 20- Israel's defence industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own...

  • *U.S. to provide Israel $38 bln in military aid over 10 years. Deal phases out Israel ability to spend 26.3 pct locally. JERUSALEM, Sept 20- Israel's defense industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own...

  • CenturyLink says it is cutting more than 3,000 jobs to lower its costs. CenturyLink Inc. said it is seeking to first trim its headcount on a voluntary basis. Company spokesman Mark Molzen said most of the layoffs are expected to be done by Dec. 16.

  • Sept 19- Twitter Inc said on Monday it would lay off some employees and halt engineering work at one of its development centers in India's technology hub Bengaluru. Twitter said it remained committed to India as a strategic market and would continue to maintain a presence in the city. However, it did not disclose the number of employees it had in India.