Posts Tagged ‘job cut’

Over 1600 Jobs Go at Barratts Priceless

Saturday, December 31, 2011 5:06 No Comments

Until recently, the footwear retailer–Barratts Priceless employed 3840 staff in 191 Barratts and Priceless Shoes stores, plus 374 concessions of which 359 were in Arcadia Group stores.
However, following the administrators’ failure in finding a buyer for company’s concession business, over 1600 staff at Barratts in the UK and Ireland will be made redundant.

This was posted under category: Jobs Tags:

Philips to Cut 4500 Jobs as Profits Fall

Monday, October 17, 2011 12:35 No Comments

The Dutch electronics group–Philips announced that the company was about to axe 4500 jobs in its domestic Dutch operations as its third-quarter earnings plunged and the outlook for its products remains uncertain. The downsizing comes amid sagging consumer confidence in two of Philips’ key markets–Europe and the US.
The job cuts will be part of a [...]

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Man Group Doubles Planned Job Cuts

Sunday, October 2, 2011 8:07 No Comments

Europe’s largest hedge fund company in terms of number of employees--Man Group has seen its share price tumble 30% ever since a pre-close trading update which revealed a surprise drop of $6bn in assets. The hedge fund company then doubled the number of job cuts it plans to make by the first quarter of [...]

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Nokia to Cut 3,500 Jobs and Close Plant

Thursday, September 29, 2011 10:42 No Comments

The Finnish handset maker–Nokia is going to cut down 3500 jobs and close a manufacturing factory in Romania, as the world’s largest maker of mobile phones by volume went on the evolution to deal with the growing influence of smartphones on its markets.
According to the company, it is said that the closure of the plant [...]

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HSBC to Cut 30,000 Jobs

Monday, August 1, 2011 11:06 No Comments

The investment banking division of HSBC posted weaker figures duet to the grim trend revealed across Europe last week. The performance of the bank was driven by a particularly strong improvement at its retail and wealth management division, where the profits rose by 131% as the charges for loan impairment fell.
HSBC has already stripped out [...]

This was posted under category: Banking and Finance, Jobs Tags: ,

Lloyds Plans to Cut 15,000 Jobs

Thursday, June 30, 2011 11:40 No Comments

According to the Lloyds Banking Group, of which the British government owns 41%, it is announced that it planned to cut down 15,000 jobs by the end of the year 2014. Besides, the group is also looking to scale back its overseas operations as part of a larger reorganization, that is aimed at allowing the [...]

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Diageo Could Call Time on Hundreds of Jobs

Thursday, May 26, 2011 9:18 No Comments

The world’s biggest drinks firm–Diageo has unveiled a major shake-up of its drinks business that could witness the loss of hundreds of jobs in Europe as the group focuses on driving growth in the booming African and Latin American economies where the sales were up by 17% and 10% respectively.
According to the maker of Smirnoff [...]

This was posted under category: Industry Review Tags: , , ,
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