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Siemens CEO plans job cuts, office closuresGermany's Siemens may outline job cuts and office closures to stop profits sliding as customers put off ordering engineering equipment because of Europe's economic crisis. Chief Executive Peter Loescher's strategy of b More… |
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BlackBerry maker to cut 2,000 jobsBlackBerry maker Research In Motion (RIM) is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported yesterday. The Canadian newspaper, More… |
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Abu Dhabi TNI plans big job cutsAbu Dhabi-based investment firm, The National Investor (TNI), has shed more than half of its workforce and is planning more job cuts in a bid to reduce costs in response to tough financial markets, said sources. Like a number of rival Midd More… |
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SocGen to cut 700 jobs in US, AsiaFrench bank Societe Generale is to cut 700 jobs at its American and Asian operations as it pulls back on U.S. dollar lending to cut debt and strengthen its balance sheet, two trade-union sources said. The latest sign of retrenchment at Fre More… |
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HSBC lays off ME bankers; energy head leavesHSBC Holdings laid off several investment bankers in the Middle East earlier this month, including the head of its regional energy group, as part of a wider round of global jobs cuts, two sources said on Tuesday. Darren Davis, HSBC's h More… |
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RBS to cut jobs as profit plunges 63pcRoyal Bank of Scotland is to further shrink its investment bank arm and cut more jobs after the euro zone debt crisis sliced into third-quarter profit, hampering its turnaround. RBS, 83 per cent owned by the UK government after it was bail More… |
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EU Islamic bank plans job cutsEuropean Islamic Investment Bank (EIIB), which was set up in 2005 to provide Sharia-compliant banking products and services, announced dozens of job cuts and the closure of a representative office in Bahrain as part of a restructuring. The More… |
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Bank of America plans 40,000 job cutsBank of America Corp officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal said, citing people familiar with the plans. The number of job cuts are not final and could change More… |
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HSBC announces massive job cutsHSBC, Europe's biggest bank, is to cut 3,000 jobs in Hong Kong over the next three years as it targets its first wave of an aggressive cost-cutting plan on five countries. The bank said on Wednesday the cuts would be made as chief exe More… |
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Arms makers eye exports to offset Pentagon cutsLockheed Martin Corp's political backers are stepping up a drive to meet Taiwan's request for 66 new F-16 fighter jets, a sale that would help the Pentagon's largest supplier weather possible cuts to its big-ticket weapons programs. More… |
