job cuts
Citigroup Plans To Cut 2,000 Jobs Next Month, Part Of Efforts To Restructure Company
Citigroup Inc.is planning to cut at least 2,000 jobs beginning next month, a substantial portion of which will be in middle of back-office positions, a person briefed on the plans told Bloomberg.
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Kraft Heinz to Close 7 Plants, Cut 2,600 Jobs, Company Looking to Cut Costs
Kraft Heinz Co., will be closing down seven factories and laying off about 2,600 employees in North America, according to a report from USA Today. The move is part of the company’s efforts to cut costs.
Sprint to Slash Costs by $2.5 Billion, Will Do it Through Job Cuts and Other Cost Controls
Sprint Corp. is planning to cut as much as $2.5 billion in its fiscal 2016 expenses, according to a report from Reuters. The company said that the cut in expense will come from layoffs and a wide array of cost controls.
ESPN Plans to Cut 350 Jobs, Rising Costs of Programming, Loss of Viewers Confront Company
People familiar with the matter have told Bloomberg that ESPN is planning to cut as many as 350 jobs, about 4.3 percent of the company’s workforce. The job cuts are due to the rising costs in programming and loss of viewership.
Air France Scales Back Number of Jobs it Plans to Cut in 2016, Job Cuts in 2017 Could Be Avoided
Alexandre de Juniac, the CEO of Air France, has scaled back the number of jobs it plans to cut in 2016 to fewer than 1,000, down from the 2,900 it earlier proposed, according to a report from Reuters. The job losses in 2017 could be avoided if the talks with unions will lead to an agreement on alternative savings measures by the beginning of next year.
Twitter to Cut about 8% of Workforce, Part of Plan to Focus on Product Priorites, Provide Efficiency Company
Twitter, Inc. is planning to lay off up to 336 employees, or about 8 percent of the company’s global workforce, according to a SEC filing by Twitter. The job cuts are part of an overall plan to organize the company around its top priority products and drive efficiencies.
Twitter Planning Company-Wide Layoffs, Comes at the Same Time the Company Plans to Restructure Engineering Organization
Multiple sources have told Re/code that Twitter, Inc. is planning to have company-wide layoffs next week, Jack Dorsey’s first move as the new CEO. It is unclear how many people will be cut, but sources say that it will affect all departments. Sources told Re/code that the downsizing comes at the same time the company is making its engineering organization leaner and more efficient.
SunEdison to Reduce Global Workforce by 15%, Part of Restructuring Plan to Optimize Business Operations
SunEdison, Inc. will be reducing its global workforce by approximately 15 percent as a response to the current and expected market conditions and to remove duplicative activities as a result of merger and acquisition, according to a SEC filing by SunEdison. The workforce reduction is part of a restructuring that the company is conducting to optimize business operations and to accelerate cash flow positive operations.
Managers of Air France Flee after Angry Workers Disrupt Meeting, Airline Plans to Cut 2,900 Jobs
The managers of Air France forced to flee a meeting after a mob of angry workers waving banners and flags stormed the room, according to a report from Reuters. The airline has confirmed during the meeting that they plan to cut 2,900 jobs by 2017 and shed 14 aircraft from its long-haul fleet.
Rolls-Royce to Cut 400 Management Jobs, Attempts to Increase Confidence in Diversification Strategy
Rolls-Royce Holdings Plc, a maker of jet engines, may be announcing a plan to cut 400 management jobs in its flagging marine division, people with knowledge of the matter told the Financial Times. The job cuts are the company’s attempt to increase the confidence in diversification strategy that is being challenged by investors.
Walmart Lays Off 450 Workers at its Headquarters, Increase Competitive Edge
Wal-Mart Stores, Inc. laid off 450 employees last Friday at its headquarters, which is located in Bentonville, Arkansas, according to a report from USA Today. The layoffs are part of the retail giant’s plan to increase its competitive edge.
Sprint to Cut Jobs, Part of Cost-Cutting Effort to Reduce Expense by $2.5 Billion in the Next Six Months
Sprint Corporation will be reducing jobs as part of its cost-cutting efforts to reduce its expense in the next six months, according to a report from The Wall Street Journal.
ConAgra Announces $300 Million Efficiency Plan, Will Cut about 30% of Total Workforce
ConAgra Foods, Inc. has announced in a press release a restructuring plan that will realize at least $300 million of efficiency benefits within the next three years through a combination of reductions in SG&A and enhancements in the company’s trade spend processes and tools.
AMD to Cut about 5% of Total Workforce, Part of Restructuring Plan
Advanced Micro Devices, Inc. (AMD) will cut approximately 5 percent of its total global workforce as part of its restructuring plan, according to a regulatory filing by the company.
Chesapeake Energy Cuts 15% of Jobs, Plans to Reduce Costs, Better Align Workforce
Chesapeake Energy Corporation is planning an approximately 15 percent reduction in its workforce, according to a regulatory filing that the company submitted on Sept 29, 2015. The company said that the planned reduction is part of its overall plan to reduce costs and better align its workforce.
Whole Foods to Reduce about 1,500 Jobs, Part of Commitment to Lower Prices, Invest in Technology Upgrades
Whole Foods Market has announced in a press release that it will be reducing approximately 1,500 jobs, representing 1.6 percent of its total workforce, over the next eight weeks.
Caterpillar to Cut More Than 10,000 Jobs, Part of Restructuring and Cost Reduction Plans
Caterpillar, Inc. has announced in a press release a possible workforce reduction of 10,000 people as part of its plan to lower operating costs by about $1.5 billion annually.
Qualcomm Slash more than 1,300 Jobs in San Diego and Hundreds more in Other States, Part of Business Revamp
Qualcomm Inc. is slashing more than 1,300 full-time jobs in San Diego and hundreds more jobs in other states, according to a report from The San Diego Union-Tribune.
Deutsche Bank Plans to Cut 23,000 Jobs, Mainly in Technology from Spin Off of PostBank Division
Sources have told Reuters that Deutsche Bank AG plans to cut roughly 23,000 jobs or about one-quarter of the total staff.
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