Cardinal Health Lowers Forecast, Cuts 4,200 Jobs
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Cardinal Health Inc., the second- biggest US drug distributor, reduced its fiscal 2005 forecast and said it will cut 4,200 jobs as opportunities for profiting from drug-price increases decline.
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Bank of America has an option to cut at least 4,500 jobs while reorganizing its structure. This is not the first time when the bank reduces jobs.
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The company lowers its fourth-quarter and full-year earnings guidance.
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Sprint Nextel  reported deeper-than-expected subscriber losses on Friday and said it would cut about 4,000 jobs, sending its shares down 19 percent to their lowest level in more than five years.
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UnitedHealth Group  on Monday said it has lowered its 2007 revenue forecast after determining its SecureHorizons Medicare Advantage membership will likely decline "modestly" this year.
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State Street Corp. said it will eliminate 425 jobs as a cost-cutting move after the financial firm yesterday reported a weak third quarter in which earnings fell 13 percent because of a sharp drop-off in lending and trading activities in securities markets.
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UnitedHealth Group Inc.  cut its 2007 revenue forecast on Monday after determining membership in its full-service Medicare plans for seniors will likely decline "modestly" this year.
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Sprint Nextel , the No. 3 U.S. mobile service, said on Friday it would cut about 4,000 jobs within the company, close 125 stores and reduce its use of outsourced services to improve its financial performance.
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Interstate Bakeries Corp. said it plans to shut down its bakery operation in Buffalo effective Oct. 23, a closing the Kansas City-based company said will affect approximately 200 employees.
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American Express Co. said Friday that it is eliminating about 2,000 jobs in a restructuring that will cost $100 million to $120 million in the fourth quarter before taxes, and is designed to save the financial
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Pfizer Inc., the world's largest drug maker, will slash 2,200 US sales jobs as chief executive Jeffrey Kindler reduces expenses to compensate for revenue lost to cheaper generic competition.
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Pfizer Inc.  said on Tuesday it would cut its U.S. sales force by about 20 percent, or some 2,200 jobs as part of a comprehensive cost-cutting program.
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Job cut announcements by US employers totaled more than 100,000 for a second month in October, suggesting companies may trim work forces in anticipation of fewer orders, a private survey found.
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Accredo Health lowers earnings guidance for 2005.
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Sprint Nextel , the No. 3 U.S.  mobile service, said on Friday it would cut about 4,000 jobs  within the company, close 125 stores and reduce its use of  outsourced services to improve its financial performance.
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US firmss have cut back on the total number of staff employed for the first time in four years, official data shows.
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Employers eliminated 4,000 jobs in August, the Labor Department said today, showing that the job market was soft even as conditions in credit markets began to deteriorate.