The chief executive of Etihad Airways said a deal to acquire nearly half of Alitalia could be wrapped up this month but warned that cuts would be needed to make the loss-making carrier profitable, prompting opposition from Italy's largest un
Alitalia needs a few weeks to seal a deal with Etihad which could see the Abu Dhabi airline invest 560 million euros ($762 million) in its struggling Italian peer in return for hefty job cuts, Alitalia chief executive Gabriele del Torchio said.
Etihad Airways, the national airline of the UAE, has signalled that it is ready to continue talks on a potential investment in Italy's troubled Alitalia but it refuses to budge on tough conditions on debt restructuring and job cuts, a source
US banking giant JPMorgan Chase said it would eliminate 5,000 jobs from its global workforce this year.
JPMorgan forecast its total headcount in 2014 at 260,000, down from 265,000 in 2013 and 280,000 in 2011, according to a presen
Royal Bank of Scotland is to shrink its investment banking and international operations as part of a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources said yesterday.
The part-nationalised bank
Barclays is cutting 400 jobs from its corporate banking division, adding to the similar number of people axed by its investment bank this week as Chief Executive Antony Jenkins wields a cost-cutting knife.
The bank cut 3,700 jobs
Gulf Air, the national carrier of Bahrain, is not planning any further redundancies this year, according to trade unionists.
The airline refused to confirm it had put its redundancy scheme on hold, but the Gulf Air Trade Union (GA
Germany'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
BlackBerry 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,
Abu 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