Business Events Layoffs

  • PARIS, Feb 22- Societe Generale has not yet taken a decision about any layoffs at its corporate and investment bank as it looks for 500 million euros in cost savings, a source at the bank said on Friday. The French bank said this month it planned to restructure its investment bank to save costs. It has said it would focus on activities such as equity derivatives and...

  • Societe Generale SA headquarters stand in Paris, France

    French bank Societe Generale is planning to cut thousands of jobs at its global banking and investor solutions unit, as it looks to offset cost pressure from regulation, Bloomberg reported.

  • SAO PAULO/ DETROIT, Feb 19- Ford Motor Co said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. Following that announcement, analysts and investors had expected a similar restructuring in...

  • SAO PAULO/ DETROIT, Feb 19- Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America in a plant closing that could cost more than 2,700 jobs, part of a global restructuring meant to end losses in different regions. The factory in Sao Bernardo do Campo, an industrial suburb of Sao Paulo, has operated since 1967 and was Ford's first...

  • JOHANNESBURG, Feb 14- Sibanye-Stillwater could cut nearly 6,000 jobs in a potential restructuring of the company's gold mining operations following losses at some of its mines last year. The company, which has both gold and platinum mines in South Africa, employs more than 61,000 people in its local operations. Gold producers in South Africa have had their...

  • JOHANNESBURG, Feb 14- South Africa's Sibanye-Stillwater said on Thursday it could cut nearly 6,000 jobs as it considers restructuring its struggling gold mining operations. Gold producers in Africa's most industrialised economy, which have some of the world's deepest mines, have seen profits squeezed by rising costs, labour unrest and declining grades.

  • ABU DHABI, Feb 14- Etihad Airways said on Thursday it has agreed with Airbus and Boeing to restructure a "large portion" of its orders, in what appeared to be a major cut in long-haul jet orders. The Abu Dhabi- owned airline said in a statement that it has committed to take delivery of five Airbus A350-1000s and 26 A321neos plus six Boeing 777-9 s "over the coming years."

  • However, the company's profit beat estimates by a cent and the game publisher announced a new share buyback program of up to $1.5 billion, while saying it would cut about 800 jobs to focus on developing its games franchises, sending its shares up 3 percent in after-market trading. As part of the restructuring actions, Activision expects to incur a pre-tax charge...

  • JOHANNESBURG, Feb 12- South Africa's Sibanye-Stillwater said on Tuesday it was considering measures, including restructuring if alternative solutions could not be found to bring loss-making gold shafts back to profitability. Gold producers in Africa's most industrialized economy, which have some of the world's deepest mines, have seen profits squeezed...

  • Activision is classically restructuring, says investor

    Ari Wald of Oppenheimer and Michael Bapis of Vios Advisors at Rockefeller Capital discuss the tanking shares of Activision Blizzard with CNBC's Mike Santoli. Bloomberg reported the video game company may be laying off workers.

  • SAN FRANCISCO, Feb 8- When Tesla Inc announced last month a second round of job cuts to rein in costs, one crucial department was particularly badly hit. Some 150 employees out of a team of about 230 were let go in January at the Las Vegas facility that gets tens of thousands of Model 3 s into the hands of U.S. and Canadian buyers, they said, in a sign the company expected the...

  • ZAGREB, Feb 7- Croatia's troubled shipbuilder Uljanik said on Thursday it had chosen local rival Brodosplit as a strategic partner to restructure its operations. "Uljanik has chosen Brodosplit as its strategic partner which will have an obligation to devise, in cooperation with Uljanik, a feasible restructuring plan," Uljanik said in a statement filed to the...

  • Mary Barra, Chairman and CEO of General Motors.

    GM expects to pull in about $2 billion-$2.5 billion in 2018 in cost savings in 2019.

  • LONDON, Feb 5- Britain's economy risks stalling or contracting as Brexit nears and a global slowdown worsens, with firms in the dominant services sector reporting job cuts for the first time in six years and falling new orders. Britain's economy defied forecasts from some economists that it would go into recession after the 2016 referendum vote to leave the...

  • WASHINGTON, Feb 4- General Motors Co on Monday said it was starting to hand pink slips to about 4,000 salaried workers in the latest round of a restructuring announced in late November that will ultimately shrink its white-collar workforce in North America by 15 percent out of 54,000.. Two people briefed on the cuts said GM is cutting hundreds of jobs at its...

  • *Nonfarm payrolls jump by 304,000 jobs in January. WASHINGTON, Feb 1- U.S. job growth surged in January, with employers hiring the most workers in 11 months, pointing to underlying strength in the economy despite an uncertain outlook that has left the Federal Reserve wary about more interest rate hikes this year. The Labor Department said its closely watched...

  • *Nonfarm payrolls jump by 304,000 jobs in January. WASHINGTON, Feb 1- U.S. job growth surged in January, with employers hiring the most workers in 11 months, pointing to underlying strength in the economy despite an uncertain outlook that has left the Federal Reserve wary about more interest rate hikes this year. The Labor Department said its closely watched...

  • Feb 1- Vice Media LLC is cutting about 250 jobs, or 10 percent, of its workforce, a company spokeswoman said on Friday, as it looks to cut costs and achieve profitability. Departments at every level- from IT to finance and television- are expected to see layoffs, according to an internal memo sent by Chief Executive Officer Nancy Dubuc to the staff on Friday and seen by...

  • WASHINGTON, Feb 1- U.S. job growth surged in January, with employers hiring the most workers in 11 months, pointing to underlying strength in the economy despite a darkening outlook that has left the Federal Reserve wary about more interest rate hikes this year. The Labor Department's closely watched monthly employment report on Friday showed no "discernible"...

  • LONDON, Jan 31- Innogy SE's npower said on Thursday it will cut 900 jobs in Britain this year to lower operating costs as it faces an "incredibly tough" retail energy market. Britain's energy market regulator Ofgem imposed a price cap on default energy bills from January this year to save households about a billion pounds a year, following a government promise to...