×

Business Events Layoffs

  • Sept 7- Eli Lilly and Co said on Thursday it would lay off about 8 percent of its employees to focus on developing new medicines and cut costs. The drugmaker said the workforce reduction, including those from a U.S. voluntary early retirement program, would amount to yearly savings of about $500 million, beginning in 2018.. Lilly expects charges of about $1.2...

  • Toymaker Lego announced plans to lay off 8 percent of its workforce as it reported a 5 percent fall in mid-year revenue.

  • COPENHAGEN, Sept 5- Toymaker Lego announced plans to lay off 8 percent of its workforce as it reported a 5 percent fall in mid-year revenue. That topped My Little Pony producer Hasbro Inc's sales of $1.82 billion and Barbie doll maker Mattel Inc's $1.71 billion. Lego last month removed CEO Bali Padda after just eight months, replacing the Briton with Danish...

  • CEO of the Walt Disney Company, Bob Iger.

    The media giant is expected to identify the cuts in its ABC television group by the end of September.

  • GE's new CEO preparing job cuts in bid to reduce costs: Source

    GE is making plans to significantly reduce corporate staff in an effort to cut spending and boost profits.

  • Job cuts coming at GE?

    The "Squawk on the Street" news crew weigh in on news General Electric's new CEO planning to cut corporate staff in an effort to slash spending and boost profits.

  • John Flannery, GE

    GE is making plans to significantly reduce corporate staff in an effort to cut spending and boost profits.

  • This month's total marks the first increase in job cuts in the past five months of payroll cuts in March.

  • NEW YORK, Aug 31- General Electric Co is making plans to significantly reduce corporate staff in an effort to cut spending and boost profits under its new chief executive, and the company already has halted hiring in certain technology positions, a person familiar with the situation told Reuters. "We have a plan to take out $2 billion in cost by the end of 2018," GE...

  • GENERAL ELECTRIC PLANS SIGNIFICANT JOB CUTS AS NEW CEO TRIES TO REDUCE COSTS- SOURCE.

  • Aug 29- Galvanize, a for-profit software coding school that has raised $63 million in venture funding, plans to lay off 11 percent of its workforce, the company said on Tuesday. The five-year-old startup said the downsizing will affect 37 people at the company's headquarters in Denver, effective Friday, Robin Olsen, a spokeswoman, said. The layoffs come a month...

  • Aug 29- Galvanize, a for-profit coding school that has raised $63 million in venture funding, plans to lay off 11 percent of its workforce, the company told Reuters on Tuesday. The five-year-old startup said the downsizing will impact 37 people at the company's headquarters in Denver. The layoffs come a month after two other coding boot camps, Dev Bootcamp in San...

  • SEATTLE, Aug 28- BNSF Railway Co has called back roughly 4,000 of the 5,000 workers who were furloughed across its system last year, reflecting stronger volumes of coal, grain and intermodal containers and trailers, a spokesman said. Like other major U.S. railroads, the company owned by billionaire investor Warren Buffett's Berkshire Hathaway Inc has shed...

  • JOHANNESBURG, Aug 21- South Africa's AngloGold Ashanti reported a first-half loss on Monday on costs related to layoffs and money set aside for litigation, but stuck to its full-year targets. Shares in Africa's biggest gold miner were down 3.2 percent to 130 rand at 0903 GMT, while the wider sector was off 1 percent. A class action suit, mostly relating to fatal lung...

  • MADRID, Aug 17- Spanish airline Iberia, part of International Consolidated Airlines Group, aims to cut up to 955 jobs as part of a fresh round of redundancies outlined to unions, a spokeswoman for the company said on Thursday. The layoffs would involve voluntary redundancies and early retirement plans, she said, after the firm flagged plans for more job cuts in...

  • The layoffs, which represent about 8 percent of its management force, will largely hit employees in Omaha, Nebraska, where the company is based, but will also affect locations across its network, the company said. "Union Pacific for some time has leveraged employee attrition and technology to reduce general and administrative costs," Chief Executive Officer...

  • LONDON, Aug 15- Britain's Royal Bank of Scotland plans to cut around 900 technology jobs at its London office by 2020, in its latest plan to reduce costs, the Unite union said, although the bank said no figures had been finalised. "Our proposed plans are designed to reduce the number of contractors we employ and strengthen our permanent workforce and while we are...

  • *Books $1.3 billion exceptional loss after revaluing assets. *Shares down 95 pct since February 2015. SINGAPORE, Aug 10- Commodities trader Noble Group reported a second- quarter loss of $1.75 billion on Thursday, weeks after warning it faced its steepest quarterly loss in a year and a half and would slash jobs and sell assets to cut debt.

  • *Reports a wider first-quarter loss of 31.5 billion yen. TOKYO, Aug 9- Japan Display Inc posted a wider-than-expected loss and said it would slash 30 percent of its workforce, as it struggles with slow iPhones-related demand from Apple Inc and its late entry into organic light-emitting diode screens. In the red over the past three years, Japan Display posted a net...

  • Shown the Door, Older Workers Find Bias Hard to Prove

    70 former Spirit AeroSystems employees are filing suit against the company for age discrimination.