Swisscom Plans Job Cuts, Reports Earnings
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Telecommunications company Swisscom AG reported Wednesday that third-quarter net income fell 10 percent and said it would cut about 390 jobs, or 2.5 percent of its fulltime work force, next year.
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GlaxoSmithKline warns it will cut jobs and close some factories as part of a cost-cutting plan.
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NEW YORK, October 15  - The US-based telecom giant, Sprint Corporation (FON.NYS), has announced its plans for additional 700 job cuts in its Sprint Business Solutions (SBS) division.
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Nortel Networks Corp. gave details of a previously announced job cut program Thursday, saying it is cutting 1,400 in the United States by next June.
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French insurance firm AGF, part of  Germany's Allianz , is planning to cut between 1,500  and 2,000 jobs, a newspaper reported on Saturday, and the  company said it was consulting with staff on boosting  competitiveness.
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Citigroup Inc.  could make as much as $24 billion in writedowns and lay off 20,000 workers as part of a plan to cut costs and boost capital, CNBC said on its Website in a report dated Sunday.
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Goldman Sachs Group  and Credit Suisse Group  on Friday said they will cut about 2,000 job worldwide as a credit crisis puts a damper on fixed-income trading and corporate dealmaking.
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The company will cut more than 6 percent of its shrinking work force, as part of a plan to improve sagging financial and operational results.
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Cable &amp; Wireless Group PLC swung to a profit in the first half Wednesday and said it would cut 600 jobs in a reorganization in Europe.
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SBC Communications said in a quarterly filing that it will lay off 10,000 workers by the end of next year but plans to continue hiring in its wireless and broadband access divisions.
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Swiss Re  said it would inform  its employees on Monday on staff reductions of up to 2,000 by  the end of 2007, the reinsurer said, after its purchase of the  reinsurance units of General Electric .
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BERN : Switzerland&#39;s main telecommunications operator, Swisscom, reported a 17.2 percent decline in its nine-month net profit compared to last year to 1.14 billion Swiss francs (734 million euros, 963 million dollars) in 2004.
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SBC Communications says it may cut about 10,000 jobs by the end of next year, which would equal, 6% of its workforce. The cuts are a result of customers switching from regular phone lines to cellular and voice-over internet services.
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BERLIN  - German chipmaker Infineon Technologies AG said Tuesday it would cut jobs and undertake a large overhaul of its money-losing fibre-optic operations following a failed attempt to sell the unit.
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Apparel maker Liz Claiborne Inc.   is planning job cuts that could total as much as 10  percent of its workforce, the New York Post reported on its Web  site on Tuesday.
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KarstadtQuelle, the crisis-ridden German department store operator, plans to cut 5,500 jobs and freeze the wages of its remaining employees over the next three years as part of a 760-million-euro (935-million-dollar) cost-cutting package, unions said.
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T-Mobile, Germany's leading mobile phone operator, said it was planning to axe up to 2,200 jobs as part of a  one-billion-euro (1.3-billion-dollar) cost-cutting drive to boost profitability in face of current difficult market conditions.