25 C
Kuala Lumpur
Tuesday, October 22, 2019

Tag: job cuts

7-Eleven shuts 1,000 Japanese stores, cuts 3,000 jobs

Structural reform measures include testing stores with reduced hours.

10,000 set to lose jobs in HSBC as bank cuts cost

Earlier cuts announced in August after CEO's abrupt resignation.

Bank job cuts, mostly in Europe, touching 60,000

Figures underscore weakness of continent’s financial industry.

Electrolux to cut 1,700 jobs in group revamp

The measures are intended to generate annual savings of about 500 million kronor from 2022.

Ford finds buyer for Brazil plant

Brazilian automaker CAOA and Ford have been negotiating the purchase, part of Ford's global restructuring plan, since late February.

Tesco to cut 4,500 UK jobs as grocer streamlines Metro stores

Britain’s biggest retailer says it will streamline operations at its 153 medium-size Metro stores in city centres while reducing opening hours at 134 Express convenience stores.

Citigroup plans to cut hundreds of trading jobs

The New York-based bank plans to slash jobs across its fixed-income and stock-trading operations over the course of 2019.

Uber to cut about 400 employees, citing ‘mediocre results’

Uber can’t keep up with its growth and has to downsize a section of the company.

Nissan’s pain worsens on 99% profit plunge, 12,500 job cuts

The dismal results are overshadowing Nissan’s other big headache, the arrest in November of former Chairman Carlos Ghosn on alleged financial crimes.

Ford shuts down French transmission plant

Ford announced in June it would slash 12,000 jobs across Europe.

Nissan plans over 10,000 jobs cuts globally

The cuts include the 4,800 already announced in May, and will mostly be at factories overseas with low utilisation rates.

Ikea closing US furniture factory, cutting 300 jobs

The factory, which opened in 2008 to produce wood shelves and storage units for the US and Canadian markets, will close in December.

Huawei plans to cut jobs in US-based R&D subsidiary, WSJ says

Some of the workers have already been notified of the dismissals and additional cuts could be announced soon.

Deutsche Bank to cut 18,000 jobs in €7.4 bil overhaul

The bank will also scrap its global equities business and scale back its investment bank.

Journalism job cuts haven’t been this bad since the recession

The news business is on pace for its worst job losses since 2009.

Deutsche Bank to cut as many as 20,000 jobs in revamp

The sweeping restructuring is likely to hit Deutsche Bank’s investment banking division the hardest, particularly its US operations.

Germany’s Siemens to cut 2,700 jobs worldwide

Siemens is set to cut 2,700 jobs worldwide at its gas and power unit, including 1,400 in Germany.

Fiat Chrysler to cut 1,500 jobs at Canada plant

The announcement represents a fresh blow for the province of Ontario after the axing of more than 2,500 jobs announced for the end of 2019 at the General Motors plant.

Privatisation will not cost civil servants their jobs, says Guan Eng

The concerns of all the stakeholders will be taken into consideration, assures the finance minister.

Volkswagen to cut up to 7,000 jobs at VW

The job cuts will be part of a savings drive aimed at slashing costs by 5.9 billion euros per year by 2023.

HSBC’s Flint says job cuts aren’t needed to contain costs

CEO Flint says cutting jobs is not necessary at the moment as HSBC can defer some planned investments.

Tesla’s delivery team gutted in recent job cuts

The automaker more than halved the division that delivers its electric vehicles to North American customers.

Ford to cut jobs in European revamp

Ford employs around 53,000 people at its wholly-owned facilities in Europe.

Ford prepares to cut salaried jobs in US$11 billion restructuring

Morgan Stanley has speculated that Ford may pare more than 20,000 jobs from its global workforce of 202,000.