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Business Events Layoffs

  • *Operations outside U.S., Canada not part of bankruptcy. Sept 18- Toys' R' Us Inc, the largest U.S. toy store chain, which filed for bankruptcy late Monday, will ask a judge on Tuesday for permission to borrow money so that it can start paying suppliers to ensure it has Lego building blocks and Barbie dolls for the holiday season. The Chapter 11 filing, to restructure $5...

  • The union was in talks with GM about the company's decision to cut jobs and shift some production work to Mexico. In July, GM stopped production of its Terrain sport utility vehicle in Ingersoll, and 100 percent of the volume was moved to Mexico, resulting in 600 layoffs. The plant now only produces the Equinox, which is also manufactured in Mexico.

  • CHARLESTON, W.Va.— BB&T has announced it is cutting 56 jobs from its processing service center in West Virginia's capital city. BB&T spokesman David White says each associate has been provided a 60- day notice, career transition services and a severance package. Charleston Area Alliance President Matt Ballard says the layoffs indicate shifts in the banking...

  • LONDON, Sept 12- European Union banks closed 9,100 branches and cut around 50,000 staff last year, according to data published on Tuesday, as customers increasingly opted for online banking. The European Banking Federation, which gathered the information, said the number of bank branches in the EU had been reduced to 189,000 at the end of 2016, a 4.6 percent fall...

  • *To shift headquarters to Boston, close some sites. The company named longtime Biogen Inc finance chief Paul Clancy as CFO in June, months after appointing former Baxalta executive Ludwig Hantson as CEO. Alexion's restructuring efforts showed the drugmaker was focused on execution and serious about controlling costs, Cowen& Co analyst Eric Schmidt said.

  • DUBAI, Sept 12- Doha Bank has cut around 10 jobs in the United Arab Emirates and plans to put some staff in the region on unpaid leave, sources said, as it copes with the fallout from Qatar's rift with its Arab neighbours. In a statement to Reuters, Doha Bank said the information was incorrect but declined to elaborate. Saudi Arabia, Egypt, the United Arab Emirates and...

  • DUBAI, Sept 12- Doha Bank has cut around 10 jobs in the United Arab Emirates and plans to put some staff in the region on unpaid leave, sources said, as it copes with the fallout from Qatar's rift with its Arab neighbors. In a statement to Reuters, Doha Bank said the information was incorrect but declined to elaborate. Saudi Arabia, Egypt, the United Arab Emirates and...

  • The drugmaker also said it would relocate its headquarters to Boston from New Haven, Connecticut by mid-2018. Alexion named long-time Biogen Inc finance chief Paul Clancy as CFO in June, as newly appointed Alexion CEO Ludwig Hantson stepped up efforts to regain investor confidence. It expects pre-tax expenses of $340 million to $440 million related to the...

  • NEW HAVEN, Conn.— Alexion Pharmaceuticals Inc. is relocating its headquarters from New Haven, Connecticut, to Boston and cutting 20 percent of its global workforce, the company said Tuesday. About 400 jobs will move to Boston by the middle of next year, though the company will maintain a research and development center in New Haven with about 450 employees, it said.

  • Sept 12- U.S. drugmaker Alexion Pharmaceuticals Inc said on Tuesday it would lay off about 20 percent of its global workforce in an effort to cut spending. The company had about 3,100 full-time employees worldwide as of the end of last year. Alexion also said it would relocate its headquarters to Boston from New Haven, Connecticut by mid-2018.

  • An employee works in an unit dedicated to the production of insulin pens at the factory of the US pharmaceutical company Eli Lilly in Fegersheim, eastern France.

    Eli Lilly said on Thursday it would lay off about 8 percent of its employees to focus on developing new medicines and cut costs.

  • It is also closing a plant in Iowa and research and development offices in New Jersey and China. Lilly expects charges of about $1.2 billion before tax, or $0.80 per share after tax. Lilly outlined in July a likely multi-year delay for its experimental rheumatoid arthritis drug baricitinib, after the U.S. Food and Drug Administration declined to approve the drug,...

  • Eli Lilly CEO: Need to free up resources for new investment

    CNBC's Meg Tirrell reports on comments from the CEO of Eli Lilly following the pharmaceutical giant's announcement of global job cuts.

  • 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.