Job Cuts

AMSTERDAM -- Dutch financial services group ING announced deeper job cuts in retail banking as it prepares to separate its banking and insurance operations under the terms of a state bailout. ING is dismantling its once-fashionable bancassurer model after the 2008 bailout, divesting insurance and investment ...

Every week, there seems to be another major employer announcing mass layoffs. But equally prevalent, though less noticed, is the steady stream of employers who conduct "stealth layoffs" every couple of months -- methodically shedding smaller numbers of staff so quietly that often many employees in the firm aren't ...

By Steve Slater and Matt Scuffham LONDON -- Barclays new chief executive pledged a fresh course for the British lender on Tuesday, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals. In an attempt to distance ...

DENVER -- The video-rental chain Blockbuster plans to close about 300 stores across the country, losing about 3,000 employees. A company spokesman told The Denver Post on Monday that the closures will leave about 500 Blockbuster locations in the U.S. In 2011, the Dish Network bought then-bankrupt Blockbuster ...

American Express Co said it would cut about 5,400 jobs, and take about $600 million in after-tax charges in the fourth quarter, which will halve its net income for the period. The credit card company said it would employ 4 to 6 percent fewer people by the end of 2013, compared to its current headcount of ...

(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 ...

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 ...

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 ...

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 ...