Business Events Layoffs

  • NEW YORK/ BOSTON Aug 16- OxyContin maker Purdue Pharma LP has tapped law firm Davis Polk& Wardwell LLP for financial restructuring advice, as its potential liabilities swell with a wave of lawsuits over the opioid addiction epidemic sweeping the United States, people familiar with the matter said on Thursday. According to the U.S. Centers for Disease Control and...

  • JOHANNESBURG, Aug 16- Gold Fields Ltd Chief Executive Nick Holland said on Thursday he was not considering resigning after South Africa's mines minister Gwede Mantashe blamed "poor management" for planned job cuts at its South Deep mine. Mining minister Gwede Mantashe said Gold Fields' plans to slash jobs at South Deep to reduce costs is taking the "easy way out"...

  • GOLD FIELDS' CEO NICK HOLLAND SAYS NOT CONSIDERING RESIGNING AFTER SOUTH AFRICAN MINES MINISTER BLAMES MANAGEMENT FOR WOES, LAY-OFFS AT SOUTH DEEP MINE.

  • SALT LAKE CITY— The U.S. government on Wednesday issued proposals for managing two national monuments in Utah that were significantly downsized by President Donald Trump last year, saying its preference for one of the sites would be the "least restrictive to energy and mining development." The Bureau of Land Management listed four options for the Grand...

  • JOHANNESBURG, Aug 14- South Africa's Gold Fields said on Tuesday it plans to cut costs and 1,100 jobs at its struggling South Deep mine, sending its shares down more than 12 percent. Shares in Gold Fields fell 12.61 percent to 42.43 rand by 1030 GMT, after it said it could cut around 30 percent of the mine's permanent workforce and around 460 contractors.

  • NEW DELHI/ BENGALURU, Aug 10- India's Jet Airways shares hit a three-year low on Friday after it deferred its earnings, prompting analysts to say it urgently needed to recapitalise and restructure. Jet Airways told staff earlier this month it was running out of money, a source had told Reuters, but it has denied this and said it is confident of cutting costs and...

  • WASHINGTON, Aug 8- The Trump administration moved on Wednesday to shrink a government agency tasked with identifying looming financial risks, notifying around 40 staff members they would be laid off, according to a person familiar with the changes. The employees at the Office of Financial Research were formally told on Wednesday they will lose their jobs as...

  • WASHINGTON, Aug 8- The Trump administration moved on Wednesday to drastically shrink a government agency tasked with identifying looming financial risks, notifying around 40 staff members they would be laid off, according to a person familiar with the changes. The employees at the Office of Financial Research were formally told on Wednesday they will lose...

  • LONDON/ JOHANNESBURG, Aug 1- Impala Platinum plans to cut jobs and close some of its shafts in South Africa as part of a restructuring process to make its struggling mines profitable, two sources familiar with the matter told Reuters on Wednesday. Layoffs are a politically sensitive issue in South Africa where unemployment runs at about 28 percent.

  • NEW YORK, July 31- McKinsey& Co urged a Manhattan federal judge to dismiss turnaround veteran Jay Alix's lawsuit claiming the consulting firm operates as a "criminal enterprise" by hiding conflicts of interest in its bankruptcy and restructuring operations. Alix's lawyer Sean O'Shea rejected McKinsey's defenses. Alix's 150- page complaint said McKinsey and...

  • NEW YORK, July 31- McKinsey& Co urged a Manhattan federal judge to dismiss turnaround veteran Jay Alix's lawsuit claiming the consulting firm operates as a "criminal enterprise" by hiding conflicts of interest in its bankruptcy and restructuring operations. Alix's lawyer Sean O'Shea rejected McKinsey's defenses. Alix's 150- page complaint said McKinsey and...

  • PARIS, July 27- French state railway monopoly SNCF is not planning compulsory jobs cuts, the chief executive said on Friday after it reported a net loss of 762 million euros in the first half of the year after being hit by a 37- day strike. SNCF reported first half sales of 16.1 billion euros in the six months to June, down 3.3 percent compared with the same period a year...

  • EXCLUSIVE- MEXICO'S GRUPO FINANCIERO BANORTE HAS LAID OFF 500 EMPLOYEES OF GRUPO FINANCIERO INTERACCIONES, MORE LAYOFFS TO COME- SOURCES.

  • MEXICO CITY, July 26- Mexico's second-largest bank Grupo Financiero Banorte has laid off some 500 employees from recently acquired Grupo Financiero Interacciones, or about half of the specialist government lender's workforce, with more job cuts to come, two people with knowledge of the matter said. Banorte recently closed the $1.4 billion half-cash,...

  • *To cut over 2,200 jobs and close factories in Mexico. The company also said that it will cut 2,200 jobs, or 22 percent of its global non-manufacturing workforce, and plans to sell factories in Mexico, as part of a $650 million cost-saving program. The company's net sales fell 13.7 percent to $840.7 million in the second quarter ended June 30, short of the $851.8...

  • The company also said that it will cut 2,200 jobs, or 22 percent of its global non-manufacturing workforce, and plans to sell factories in Mexico, as part of a $650 million cost-saving program. The company's net sales fell 13.7 percent to $840.7 million in the second quarter ended June 30, short of the $851.8 million analysts had expected, according to Thomson...

  • The company also said that it will cut 2,200 jobs, or 22 percent of its global non-manufacturing workforce, and plans to sell factories in Mexico, as part of a $650 million cost-saving program. Mattel's net sales fell 13.7 percent to $840.7 million in the second quarter ended June 30, short of the $851.8 million analysts had expected, according to Thomson Reuters...

  • DUESSELDORF, July 17- Thyssenkrupp shares bounced 8 percent on Tuesday, lifted by hopes of a deeper restructuring of the German submarines-to-elevators conglomerate after the chairman resigned, leaving the company in a leadership crisis. Ulrich Lehner quit on Monday following a clash with the main shareholders, saying he was no longer able to safeguard the...

  • FRANKFURT, July 17- Thyssenkrupp shares were indicated 3.4 percent higher early on Tuesday as analysts expect a deeper restructuring of the German submarines-to-elevators conglomerate after the resignation of its chairman. Ulrich Lehner resigned on Monday saying he was no longer able to safeguard the interests of employees and shareholders, deepening a...

  • DUESSELDORF/ FRANKFURT, July 16- The chairman of Germany's Thyssenkrupp has resigned, following the company's chief executive under pressure from activist shareholders demanding a radical restructuring of the embattled industrial conglomerate. Ulrich Lehner's departure on Monday deepens a leadership vacuum at the submarines-to-elevators group,...