Tag Archives: job cuts

Finning swings to loss; to cut 400 to 500 more jobs

catBy Reuters

Canada’s Finning International Inc, the world’s biggest dealer of Caterpillar Inc equipment, posted a lower-than-expected quarterly profit and said it would cut more jobs.

The company, which cut 13 per cent of its global work force last year, said it would cut another 400-500 jobs by mid-2016.

Finning had about 14,500 employees as of Dec. 31, 2014.

Shares of the Vancouver-based company were down 7.4 per cent at $17.29 in early trade.

Caterpillar, the world’s largest maker of construction and mining equipment, has been hit by weak mining, drilling and construction activity around the world.

Finning in November shut 11 facilities in Western Canada, in addition to previously announced 16 closures, to cut costs.

Read more » The Globe And Mail
See more » http://www.theglobeandmail.com/report-on-business/finning-swings-to-loss-to-cut-400-500-more-jobs/article28794252/

Bombardier to cut 7,000 jobs as it enters ‘year of transition’

By BERTRAND MAROTTE

MONTREAL — The Globe and Mail – Bombardier Inc. chief executive officer Alain Bellemare is vowing that 2016 will be a “year of transition” for the Montreal-based plane and train maker after significant rounds of cost cutting last year.

But many investors, analysts and observers were disappointed by worse-than-expected fourth-quarter earnings and surprised by the magnitude of a new wave of cost cutting – 7,000 jobs to be slashed over the next two years –

Read more » The Globe And Mail
See more » http://www.theglobeandmail.com/report-on-business/bombardier-to-slash-7000-jobs/article28779506/

Husky Energy lays off workers across company’s operations

Calgary-based Husky Energy said it has laid off workers on Tuesday but declined to provide specific numbers or details on the jobs lost.

“These are difficult decisions and we will continue to take the steps necessary to ensure the company’s resilience through this cycle and beyond,” spokesperson Mel Duvall wrote in a statement.

Duvall said the job cuts were across the company’s operations.

Posts on social media and tips sent to Global News from people claiming to be employees suggested as many as 500 positions had been eliminated.

Read more » Global News
See more » http://globalnews.ca/news/2507657/husky-energy-lays-off-workers-across-companys-operations/

BP posts biggest ever annual loss, to cut 7,000 more jobs

BY KAROLIN SCHAPS AND RON BOUSSO

LONDON — Reuters:  BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.

Read more » The Globe and Mail
See more » http://www.theglobeandmail.com/report-on-business/international-business/european-business/bp-posts-worst-annual-loss-in-20-years-to-cut-7000-more-jobs/article28505561/

Toshiba To Axe 7000 Jobs; Exit PC, TV Business

Toshiba has announced that as part of its restructuring plan, it will lay off 7,000 employees and sell its Indonesian TV plant

By Martin Blanc

Toshiba Corp. (USA) (OTCMKTS:TOSYY) has announced that it will lay off almost 7,000 employees, in a bid to make up for losses and streamline its business in the chip industry, and nuclear energy space.

Furthermore, the company reported that it will sell its television manufacturing plant in Indonesia, further adding to the planned job cuts in its PC-to-nuclear transition. Around 10,000 employees are expected to lose their jobs at the company.

Read more » BDNESS
See more » http://www.bidnessetc.com/59709-toshiba-to-axe-7000-jobs-exit-pc-tv-business/

Canada – Maple Leaf Foods to cut more than 400 jobs, 3% of workforce

Maple Leaf Foods Inc. (MFI.TO 1.6%) said it would cut more than 400 jobs, or about 3 per cent of its work force, nearly a month after the Canadian meat packer pushed back its timeline for hitting a key profitability target.

Read more » BNN
See more » http://www.bnn.ca/News/2015/11/25/Maple-Leaf-Foods-to-cut-more-than-400-jobs-majority-to-come-before-year-end.aspx

Yellow Pages to cut 300 jobs in corporate ‘realignment’

By JAMES BRADSHAW MEDIA REPORTER, The Globe and Mail

Yellow Pages Ltd. is cutting 300 jobs by November in a corporate “realignment” designed to make the company leaner and free up dollars to invest in its digital ventures as it continues to move away from print directories.

The company announced the layoffs, which represent about 10 per cent of its work force, on Thursday, and said they will “principally affect management positions that have been integrated within other functions or that are no longer aligned with the company’s digital operations.”

Read more » The Globe and Mail
See more » http://www.theglobeandmail.com/report-on-business/yellow-pages-to-cut-300-jobs-in-corporate-realignment/article26714341/

After announcing 2,900 job cuts, Air France bosses fled a violent crowd of employees

Air France executives were run out of their own meeting today (Oct. 5), by employees protesting at the airline’s headquarters at Charles de Gaulle airport, just outside Paris. The meeting had been called to discuss nearly 3,000 job cuts—the airline’s first outright firings since the early 1990s.

To reach profitability goals, Air France plans to fire hundreds of flight attendants, cockpit crew, and ground staff; it will also reduce the number of aircraft it flies and shut down some routes. Such measures did not come today as a surprise—the news emerged several days ago, after negotiations to reduce costs by asking pilots to work longer hours for less pay failed. Air France ground staff had planned a two-hour strike at Charles de Gaulle today.

The strike became a siege on the room where airline managers were delivering a briefing on the cost-cutting measures. (Perhaps such action should have been expected, however, considering the recent history of angry employees “bossnapping” in France.) The resulting scene ended with Xavier Broseta, Air France’s human resources director, half-naked and jumping a fence to escape the mob. Video and photos below.

Read more » Quartz
See more » http://qz.com/517183/photos-after-announcing-2900-job-cuts-air-france-bosses-fled-a-violent-crowd-of-employees/

HP’s layoffs will exceed 55,000 people, CFO says

By 

HP’s CFO Cathie Lesjak says the company will cut up to an additional 5% more people from its workforce than the 55,000 people it had planned to eliminate.

This is a long-running layoff that began in 2012 with an initial target of 25,000 jobs, but grew until the target became 55,000 people.

Now it’s grown again. Lasjak didn’t give a new total number although she said the additional job cuts won’t force HP to spend more on restructuring than it had planned.

Read more » Business Insider
See more » http://www.businessinsider.com/hp-layoffs-to-exceed-55000-people-2015-8