Friday 19 September 2014
 
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job cuts

Etihad chief aims to seal Alitalia deal this month

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

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Alitalia 'needs a few weeks to close Etihad deal'

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.

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Etihad open to Alitalia talks, but ‘firm on demands’

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

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JPMorgan Chase to cut 5,000 jobs

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

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RBS announces massive job cuts

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

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Baclays cuts 400 jobs in corporate banking

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

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Gulf Air ‘puts job cut plans on hold’

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

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Siemens CEO plans job cuts, office closures

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

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BlackBerry maker to cut 2,000 jobs

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,

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Abu Dhabi TNI plans big job cuts

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

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