Nokia's Alcatel-Lucent Acquisition Prompts Worlwide Job Cuts
The third largest bank in France will continue its cost cutting plan. Through the year 2020 the bank will cut 550 jobs in its retail operation.
Qatari media network Al Jazeera is announcing its plan to cut 50 jobs as a part of an optimization initiative. As a partly state-funded company, Al Jazeera is impacted by the slump in oil prices, which is the country’s main sector.
CEO Tidjane Thiam determine to pursue further restructuring in Credit Suisse. The Swiss bank will cut more 2,000 jobs and cut more of its business.
LivingSocial, partly owned by Amazon, has represented itself as a foe in ecommerce business. Gautam Thakar, the new CEO has gone through a massive workforce reduction since his inception 18 months back. Beside job cuts, Thakar has transformed its business focus from daily deals to card linked discount business which is now being tested in three US cities and seems to be popular.
Schlumberger Ltd, on Thursday, reported a net loss of $1 billion for the fourth quarter and also said that it has axed 10,000 additional employees, as an effort to adjust its resource and cost base.
The publishing company has experienced tough times in the market where profits declined and shares dropped. The plan is expected to deliver more earnings growth in the long run with the simplification and reducing of costs. The company's chief also attributed their difficult times to challenging markets and unpredictable changes.
The New York based teen retailer plans to eliminate its corporate headcount as its sales fall. The company also reaffirmed its outlook for the fourth quarter.
In a bid to ease the mounting tension emerging from workers, United Continental Holdings Inc has suspended the outsourcing of jobs at the airport. The workers of United Continental expressed their concerns about measures of the company for job cuts. United already slashed 1,100 jobs early this year citing reasons for cost control. Since then, it's been involved in hiring outsourcing staff as part of cutting down costs and existing regular employees. The airline has assured employees that there wouldn't be outsourcing until 2017.
Alcatel-Lucent would push a cost cutting drive to save EUR1 billion by 2015 through cutting jobs by 1000, reported Les Echos and Le Figaro newpapers on their websites.
Siemens planned to shed 15000 jobs over the next year as a part of its cost cutting program, said a spokesman last Sunday.
The restructuring of the 3i Group Plc continues, with more job cuts in the offing.