Workforce Reduction News
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PSA Peugeot Citroen, the French carmaker that consumed about 200 million euros ($262 million) a month in cash last year, will postpone job cuts by at least 10 days as it awaits a court ruling on the strategy.
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J.C. Penney Co. Chief Executive Officer Ron Johnson, who is struggling to overhaul the department-store company, risks making his task harder by hiring at least nine key executives who live a plane ride away.
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J.C. Penney Co. Chief Executive Officer Ron Johnson, who is struggling to overhaul the department-store company, risks making his task harder by hiring at least nine key executives who live a plane ride away.
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The U.S. National Renewable Energy Laboratory is offering employees buyouts to try to cut its workforce in preparation for expected government budget cuts.
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Siemens AG , Europe’s largest engineering company, will fall “noticeably” short of a target to cut 2,000 jobs at its unprofitable German computer-services unit SIS, according to a pamphlet from employee representatives .
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British Airways parent IAG backed a mediator’s plan for about 3,140 job cuts at unprofitable Spanish unit Iberia after offering concessions that won union backing.
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IAG Chief Executive Officer Willie Walsh pledged to push through job cuts at Spanish unit Iberia in the face of union opposition, pointing to his past record in slashing costs at British Airways and Aer Lingus Group Plc.
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DreamWorks Animation SKG Inc., the independent studio behind the “Madagascar” films, dropped the most in six months after the company pulled one movie from its schedule and delayed the release of another.
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Hewlett-Packard Co. rose the most in eight months after the world’s largest personal-computer maker announced plans to slice its workforce by 27,000 and reported quarterly sales and profit that topped estimates, buoying optimism for a turnaround.
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Vikram Pandit hired thousands of employees and invested billions of dollars as he sought to boost Citigroup Inc.’s revenue after fighting to survive the financial crisis. His successor Michael Corbat has another idea: cut.
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