Belo to Cut 250 Jobs, Completes Circulation Probe
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Belo Corp. said on Wednesday it would cut more than 3 percent of its work force, mostly at its Dallas Morning News, which is grappling with a recent scandal into inflated circulation data provided to advertisers.
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Boston Scientific Corp  said on Wednesday it would cut about 2,300 jobs, or about 9 percent of its workforce, and restructure or sell several business units as part of its efforts to reduce operating expenses.
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Belo Corp.  said on Wednesday it would cut more than 3 percent of its work force, mostly at its Dallas Morning News, which is grappling with a recent scandal into inflated circulation data provided to advertisers.
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Media owner Belo Corp. said yesterday it would cut 250 jobs, more than half of them at its flagship newspaper, The Dallas Morning News, and that an internal investigation into circulation overstatements showed the projected circulation decline at the newspaper would be slightly steeper than forecast last month.
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Troubled German regional bank WestLB plans to cut 1,700 jobs, or around 30 percent of its workforce, as part of a plan to save it from ruin, the German magazine Focus said Friday.
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CHARLOTTE, NC Oct. 7, 2004 - Bank of America Corp. said Thursday that it plans to cut about 2.5 percent of its work force, eliminating about 4,500 jobs as part of a restructuring following its acquisition of FleetBoston Financial Corp.
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Continental Airlines Inc. said yesterday it would cut about 425 jobs, or 1 percent of its work force, through staff reductions, attrition, and elimination of unfilled vacancies as part of an effort to trim expenses by another $200 million.
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The Bank of America Corporation said yesterday that it would cut an additional 4,500 jobs from its ranks, beginning this month, as it simplifies operations.
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Siemens AG plans to cut 1,250 jobs in its wireline network business as it restructures the unit, the German engineering giant said Friday.
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The newspaper will bow to growing financial strain and cut 100 newsroom jobs this year, primarily through attrition and buyouts, the executive editor said.
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Shares of media company Belo Corp.  BLC.N fell more than 4 percent on Thursday after an analyst  downgraded the stock, citing the company's struggles with a  circulation scandal at its Dallas Morning News newspaper.
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Bank of America will begin this month to cut 4,500 jobs across the company, predominantly in non-customer-facing positions. Bank of America said the cuts will spell $150 million in severance
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In second layoff round this month, Big Blue is trimming its U.S. services business in response to market shift toward shorter contracts.
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Sovereign Bancorp. said yesterday it will cut 800 jobs, 77 of them locally, from its workforce of almost 9,000 and close most of its wholesale mortgage operation in an effort to slash costs by $100 million annually.
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CHARLOTTE, N.C.  -- Bank of America Corp. said Thursday that it plans to cut about 2.5 percent of its work force, eliminating about 4,500 jobs as part of a restructuring following its acquisition of FleetBoston Financial Corp. last spring.
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Belo (BEE&#39;-loh) Corporation has acknowledged improper circulation reporting at its main newspaper -- The Dallas Morning News. Belo has received an informal inquiry from the SEC and the company is responding to it.
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Media company Belo Corp. BLC.N on  Monday said it would refund $23 million to advertisers because  of a circulation scandal at its Dallas Morning News newspaper,  resulting in a charge against earnings in the current quarter.