job cuts

Morgan Stanley Plans To Cut 1,600 More Jobs

Morgan Stanley Plans To Cut 1,600 More Jobs

(Reuters) - Morgan Stanley plans to cut 1,600 employees starting this week, two people familiar with the matter said on Wednesday, in the latest sign of a pullback on Wall Street as revenue from trading and deal-making remains in the doldrums. The staff reduction pertains to Morgan Stanley's institutional... Read More »

U.S. Employers That Made The Most Job Cuts In 2012

U.S. Employers That Made The Most Job Cuts In 2012

With just two weeks to go in the year, the number of job cuts announced by U.S. employers is behind last year's pace, though it's still staggeringly high -- with 490,806 job cuts this year (as of November). Last month alone, the nation's employers announced plans to cut more than 57,000 positions, only the... Read More »

Barclays Plans To Cut Up To 2,000 Jobs, But Some Execs Push For Bigger Purge

Barclays Plans To Cut Up To 2,000 Jobs, But Some Execs Push For Bigger Purge

Barclays PLC plans to cut as many as 2,000 jobs in its investment bank as part of a broad restructuring of the company, The Wall Street Journal reported, citing people familiar with the British bank's plans. The paper said senior Barclays executives are planning to recommend that the bank cut between 1,000... Read More »

Avon To Cut 1,500 Jobs, Saying It Will 'Stabilize' The Company

Avon To Cut 1,500 Jobs, Saying It Will 'Stabilize' The Company

NEW YORK -- Avon Products said it will cut about 1,500 jobs and exit two Asian markets -- South Korea and Vietnam -- as the struggling beauty products seller takes some initial steps toward its cost-cutting goal. The job cuts amount to almost 4 percent of its workforce and marked one of the first major moves... Read More »

Planned Layoffs Surge To 3-Month High, And Bloodbath May Not Be Over

Planned Layoffs Surge To 3-Month High, And Bloodbath May Not Be Over

Planned layoffs at U.S. firms rose for the third month in a row in November, partly driven by the bankruptcy of Hostess Brands, a report showed on Thursday. Employers announced 57,081 job cuts last month, the highest level since May and up nearly 20 percent from 47,724 in October, according to the report from... Read More »

P&G To Cut Even More Jobs

P&G To Cut Even More Jobs

By Mae Anderson NEW YORK -- Consumer products giant Procter & Gamble Co. said Thursday that it plans to cut more jobs and increase share repurchases as it works on its turnaround plan to focus on its most profitable categories and countries. The news comes as the company holds its annual analyst meeting... Read More »

Hostess, Twinkie Maker, Is Closing -- 18,500 Workers Will Lose Jobs

Hostess, Twinkie Maker, Is Closing -- 18,500 Workers Will Lose Jobs

By Tanya Agrawal Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, said it had sought court permission to close and go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers. Hostess said a national strike by members of the Bakery,... Read More »

Major Banks Cut 160,000 Jobs -- More Layoffs To Come, Report Says

Major Banks Cut 160,000 Jobs -- More Layoffs To Come, Report Says

Major banks have announced some 160,000 job cuts since early last year and with more layoffs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly 2 to 1. A Reuters analysis of job cuts announced by 29 major banks showed the layoffs... Read More »

Texas Instruments To Cut 1,700 Jobs

Texas Instruments To Cut 1,700 Jobs

(Reuters) - Texas Instruments is eliminating 1,700 jobs, as it winds down its wireless business to focus on chips for more profitable markets like cars and home appliances. Texas Instruments said in September it would halt costly investments in the increasingly competitive smartphone and tablet chip business,... Read More »

Panasonic To Cut 10,000 More Jobs

Panasonic To Cut 10,000 More Jobs

Panasonic Corp., Japan's biggest commercial employer, will lay off 10,000 more workers in the fiscal year ending in March 2013, in a bid to trim costs and boost profitability at close to 100 business units, a fifth of which are losing money, its chief financial officer told Reuters. Panasonic is aiming to... Read More »

Confessions Of A Corporate Hit Man: 'I Got Paid To Restructure'

Confessions Of A Corporate Hit Man: 'I Got Paid To Restructure'

When people ask me what I did before I became a career coach, I say, "Have you seen the movie 'Up in the Air' with George Clooney?" At which point, they say, "Yes!" Then I say, "He had my job." Sometimes, I even throw in the random additional fact that Clooney and I share the same birthday too. (Sorry George,... Read More »

Comcast's NBCUniversal To Cut 500 Jobs, Including On Leno, Report Says

Comcast's NBCUniversal To Cut 500 Jobs, Including On Leno, Report Says

LOS ANGELES -- Comcast Corp's NBCUniversal entertainment unit is laying off about 500 employees at cable channels, Jay Leno's late-night TV show and the Universal Pictures movie studio, a person with knowledge of the matter said on Monday. The cuts add up to about 1.5 percent of the company's workforce of... Read More »

ING To Cut 2,350 Jobs -- And Doesn't Rule Out More Layoffs

ING To Cut 2,350 Jobs -- And Doesn't Rule Out More Layoffs

AMSTERDAM -- ING, the largest Dutch financial services group, is to cut more than 2,000 jobs worldwide as it prepares to separate its banking and insurance operations in difficult markets. The cuts, which equate to 2.5 percent of ING's workforce, come as banks across Europe shed staff in a reassessment of... Read More »

Jobs Dwindle During Green Power Debate

Jobs Dwindle During Green Power Debate

By Nicholas Riccardi DENVER -- An eerie quiet has settled over the Walker Components plant, which assembles custom cables for a global wind turbine company. Orders are down from earlier in the year and one-third of its employees have been laid off this year. "At the beginning of this year we just didn't... Read More »

Planned Job Cuts Jump 41%, 5-Month High, Report Says

Planned Job Cuts Jump 41%, 5-Month High, Report Says

The number of planned layoffs by firms jumped 41.1 percent in October to the highest level in five months, although the number includes more than 10,000 jobs in U.S.-owned auto plants in Europe, a report said on Thursday. Employers announced 47,724 planned job cuts last month, up from September's 33,816,... Read More »

UBS To Cut 10,000 Jobs, Workers Irate [UPDATE]

UBS To Cut 10,000 Jobs, Workers Irate [UPDATE]

GENEVA -- Swiss banking giant UBS AG is to cut as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. The news of the layoffs came as Switzerland's biggest bank posted another big loss for the third quarter. It said Tuesday that the job cuts are part... Read More »

Newell Rubbermaid To Cut 1,900 Jobs

Newell Rubbermaid To Cut 1,900 Jobs

By Michelle Chapman NEW YORK -- Newell Rubbermaid plans to cut more than 1,900 jobs, or about 10 percent of its worldwide workforce, over the next two and a half years as the consumer products company reorganizes its operations in a bid to boost profitability. The company, known for Sharpie pens and its... Read More »

Richard Eggers, Fired From Wells Fargo, Declines Reinstatement

Richard Eggers, Fired From Wells Fargo, Declines Reinstatement

DES MOINES, Iowa -- A 68-year-old Des Moines man fired from Wells Fargo Home Mortgage over a... Read More »

Colgate-Palmolive To Cut More Than 2,000 Jobs

Colgate-Palmolive To Cut More Than 2,000 Jobs

Colgate-Palmolive Co. unveiled a cost-cutting plan on Thursday that included cutting its workforce by the end of 2016 by about 6 percent. The toothpaste maker, which has some 38,600 employees, also posted a higher quarterly profit that met analyst expectations. Third-quarter profit was $654 million, or $1.36... Read More »

DuPont To Cut 1,500 Jobs

DuPont To Cut 1,500 Jobs

By Randall Chase DOVER, Del. (AP) - Chemical maker the DuPont Co. will cut 1,500 jobs and take other steps to increase competitiveness after a third quarter in which earnings fell sharply. The Wilmington, Del.-based company reported net income of $10 million Tuesday, or a penny per share, compared with $452... Read More »

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