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Tag: job cuts
BP quickens job cuts over oil fall
2014-12-07 20:52:17| BBC News | Business | UK Edition
Oil giant BP says it is accelerating plans to cut jobs within its back-office departments - many based in the UK and US.
GlaxoSmithKline planning job cuts, major reorganization, says report
2014-12-02 07:26:15| Biotech - Topix.net
The drugmaker is poised to announce a workforce restructuring as soon as this week, said the people, who asked not to be identified discussing a private company matter. The changes will involve operations in the U.S., where London-based Glaxo has struggled to sell respiratory medicines in recent months.
Tags: report
major
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Actavis mulls job cuts, China expansion: Bloomberg
2014-11-25 12:44:16| Biotech - Topix.net
Generic drugmaker Actavis Plc is planning to cut employees and expand in China, a Bloomberg report said citing an interview by Chief Executive Officer Brent Saunders on Bloomberg Television. Earlier in November, Botox maker Allergan Inc accepted a $66 billion takeover bid from Actavis, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc. Brent Saunders had said in the interview that there are overlaps in corporate functions, including human relations and finance, the report noted.
Tags: china
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expansion
cuts
Talk of job cuts at Verizon
2014-11-13 01:00:00| Total Telecom industry news
U.S. telco will shed 1,000 staff by the end of the year, newswire claims.
Sprint lowers EBITDA outlook, plans 2,000 job cuts
2014-11-04 08:51:00| Telecompaper Headlines
(Telecompaper) Sprint's new CEO has announced plans to reduce operating costs by USD 1.5 billion and cut 2,000 jobs at the operator. The workforce reduction is expected to save USD 400 million a year. The company is also reviewing the rest of its management and plans to add more new candidates, both external and from parent company Softbank. Appointed in August, the new CEO Marcelo Claure aims to reposition Sprint as the 'best value in wireless'. In addition to cutting operating costs, Sprint is working to complete its network upgrade and LTE roll-out, which has been impacting the customer experience and increasing churn. Sprint lost 336,000 retail postpaid customers in Q3. Prepaid customers fell by 20,000, while the operator gained 840,000 wholesale connections. This left it with just over 55 million customers at the end of September. Postpaid ARPU fell to USD 60.24 from USD 61.65 in Q2 and USD 63.48 a year ago. Total revenues fell to USD 8.49 billion from USD 8.68 billion a year earlier, while adjusted EBITDA rose slightly year-on-year to USD 1.386 billion or 18.6 percent of revenue. The company said the loss of customers and pressure on wireless revenue, as well as increased selling costs for new tariff plans, will put pressure on results in the last quarter. Sprint lowered its adjusted EBITDA forecast for 2014 to USD 5.8-5.9 billion from a previous estimate of USD 6.7-6.9 billion.
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