BGN Entrepreneur

The electronic payments business owned by eBay–PayPal, which is competing in a fast-evolving sector,,has cut 325 jobs as well as 120 contractor positions, as part of its effort to redesign the product organisation and consolidates nine product groups into one.
The staff reductions of global e-commerce business, which mainly affected employees in the product and technology [...]

UBS, which is the biggest bank by assets in Switzerland, will unveil a split of its struggling investment bank in the coming week in a move that will prompt the loss of up to 10000 jobs across the entire banking group.
The Swiss banking group will bring large parts of its fixed income trading business into [...]

The world’s sixth largest insurance group and the largest in the UK–Aviva has warned that it would cut up to 800 jobs at its UK business, due to the cost-cutting push by the FTSE 100 insurer’s new chairman–John McFarlane.
The planned job cuts by Aviva, which is part of a strategic overhaul across the group, is [...]

The euro zone could lead to lose 4.5 million more jobs over the next four years if the region is shifting away from cost-cutting measures, the International Labour Organization (ILO) warned. The occasion was the unemployment rate in the 17-nation bloc to adopt, by 22 million.
The ILO said it took a concerted policy shift away [...]

Hewlett-Packard is currently planning to cut as many as 30000 jobs. This move would become one of the biggest mass lay-offs by a US company in the recent years.
According to a person familiar with the plans, it is indicated that though the exact number of job losses has yet to be confirmed, around 25000 to [...]

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.

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 [...]