NovaStar survival at risk as First American cuts jobs
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New fallout from the U.S. housing slump hit mortgage and real estate companies on Tuesday as subprime lender NovaStar Financial Inc  and title insurer First American Corp  announced job cuts and NovaStar's auditor expressed doubt the company will survive.
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America Online, the world&#39;s largest Internet service provider, plans to lay off more than 700 employees early next month, or 5 percent of its US work force, to cut costs and meet financial goals, a source close to the company said on
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Title insurer First American Corp.  said on Tuesday that it expected to reduce personnel by about 1,300 in the third quarter, citing rapidly changing economic conditions.
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Jobs are threatened in Newtown as one firm announces it may cut 70 jobs and another goes up for sale.
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LONDON (CBS.MW) -- The board of UK-based Novar Plc (UK:NVR) recommended its shareholders Monday to accept an all-cash offer from Honeywell International Inc (HON) .
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Enterasys Networks Inc. , which makes computer networking equipment, said it will cut 115 jobs, or 12 percent of its workforce, to save $9.5 million annually after posting 14 straight quarterly losses. The firings will lead to charges in the fourth quarter of 2004 and in the first quarter of this year of $3.5 million to $3.8 million, the Andover-based ...
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Business & money: Â· Absolute tied into risky American firmsÂ·  Rush for the door after co-founder resigns
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EquiFirst Corp., a subprime mortgage unit of British bank Barclays Plc , on Tuesday said it will cut an unspecified of number of jobs to cope with the U.S. housing slump.
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ST. JOHN&#39;S, Nfld. - Two separate pieces of equipment malfunctioned last weekend, allowing oil to leak into the Atlantic for up to five hours at Petro-Canada&#39;s Terra Nova offshore project, company officials said Friday.
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General Motors&#39; loss-making European division is to cut 12,000 jobs in a bid to save $665m (Â£347m) annually. The redundancies will affect a fifth of its workforce, with 10,000 positions going at Opel plants in Germany.
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Switzerland's Novartis AG will slash 2.5 percent of its global workforce, aiming for annual savings of $1.6 billion in 2010 and becoming the latest major drugmaker to undertake a severe restructuring.
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Hundreds of workers are expected to lose their jobs as the struggling internet company implements cost-cutting measures to stop its slide.
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A decision on labor relief may be the difference between survival and liquidation.
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MUMBAI: In a bid to reverse its declining fortunes through cost cutting measures Time Warner&#39;s unit America Online which claims to be the world&#39;s largest internet service provider will remove over 700 employees shortly.
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Shares of Global Crossing Ltd.  GLBCE.O fell as much as 25 percent on Monday on concerns it  could face a second bankruptcy after it said it is cutting 600  jobs as it negotiates with lenders for much-needed financing.
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About 1,000 employees at Fleet branches across the Northeast got the ax yesterday - and thousands more job cuts are on the way as new owner Bank of America Corp. aims to hit its goal of reducing total employment by 12,500.
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Swiss drugmaker Novartis said Thursday it plans to cut 2,500 jobs in a restructuring programme aimed at generating yearly cost savings of 1.6 billion dollars (1.1 billion euros).