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Lenovo plans job cuts as sales slow, profits fall
2015-08-13 08:57:00| Telecompaper Headlines
(Telecompaper) Lenovo saw its revenue growth slow to 3 percent in its fiscal first quarter June, to USD 10.7 billion. Net profit fell 51 percent year-on-year to USD 105 million. The company said it suffered from the slowdown in the PC and tablet market, growing competition in smartphones, especially in China, marcoeconomic and currency headwinds in key markets such as Brazil, and "rapidly shifting technology demand" at its enterprise business. To address the difficult market conditions, Lenovo announced a round of restructuring, focusing on better integrating its recent acquisitions and lowering costs. This will include the elimination of 3,200 jobs outside manufacturing, or around 5 percent of its total workforce.
RPT-U.S. steelmakers, politicians denounce China steel price cuts
2015-08-13 00:20:36| Steel - Topix.net
Moves by Chinese steel exporters Wednesday to cut prices provoked cries of foul from the U.S. steel industry, and gave politicians skeptical of the pending Trans Pacific Partnership trade agreement new ammunition. Reuters reported Wednesday that Chinese steel producers were cutting export prices, riding the fall of the yuan currency after the central bank devaluation on Tuesday.
Kraft Heinz announces 2,500 job cuts
2015-08-12 16:07:12| BBC News | Business | UK Edition
Kraft Heinz cuts 2,500 jobs in the US and Canada as part of a programme of cost cutting following its recent merger
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Mild summer cuts air conditioning, lowers electricity costs
2015-08-12 00:20:35| Energy - Topix.net
The mild summer so far has allowed New Englanders to often turn off their air conditioners, helping cut costs with reduced demand for electricity. An abundance of natural gas and more efficient power plants have helped reduce the wholesale price of energy, a respite from soaring heating costs in the winter, said ISO-New England, the region's grid operator.
Tags: air
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More Job Cuts at P&G
2015-08-11 17:04:43| Happi Breaking News
Head count to fall below 100,000.
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