J.C. Penney CEO says to cut jobs: report
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Department store operator J.C. Penney Co Inc  is set to cut 100 to 200 jobs as it merges its buying and marketing operations for its store and online businesses, Chief Executive Myron Ullman said in an interview with The Wall Street Journal.
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J.C. Penney Co Inc.  said on Thursday its November sales at department stores open at least a year rose a less-than-expected 1.4 percent, but it stood by its earnings forecast for the fourth quarter.
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PLANO, Texas An executive recruited by JC Penney to revive its sagging department stores has left the company after being passed over for the retailer&#39;s top job.
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Countrywide Financial Corp, the largest U.S. mortgage lender, said on Friday it plans to cut 10,000 to 12,000 jobs to cope with weak housing demand, rising foreclosures and tightening credit markets.
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Deutsche Telekom, which has already announced that it would eliminate 32,000 jobs, plans to cut even more, chief executive Rene Obermann said Monday in an interview.
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Software maker Computer Associates  CA.N on Wednesday said it would cut 800 jobs, or 5 percent of  its work force, to cut costs amid weaker demand and falling  prices for software and services.
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The CEO of the shattered Russian oil giant Yukos said Tuesday that the company is pushing ahead with a strategy for its remaining divisions but will be cutting jobs following the government's seizure and auction of its main production subsidiary.
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Electronic Data Systems Corp.  EDS.N, one of the world's biggest computer services company,  is likely to cut up to 20,000 jobs over the next two years, the  company's chief executive said on Thursday.
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ATLANTA - Delta Air Lines is axing up to 7,000 jobs, cutting employee wages and shedding its Dallas hub as part of a sweeping turnaround plan aimed at helping the nation's third largest carrier cope with high fuel costs and competition from low-fare rivals.    But even with those changes - part of a $5 billion cost-saving program - CEO Gerald Grinstein warned on Wednesday Delta would seek bankruptcy court protection if Delta can't slow the pace of pilot retirements by the end of September...
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Morgan Stanley  is cutting about 1,000 jobs in the coming week, part of efforts to trim costs ahead of what it expects will be a tougher business environment, a person briefed on the moves said on Thursday.
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Countrywide Financial Corp, the  largest U.S. mortgage lender, said on Friday it plans to cut  10,000 to 12,000 jobs to cope with weak housing demand, rising  foreclosures and tightening credit markets.
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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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J.C. Penney's desire to reposition its brand as the preferred choice in the "hearts and minds of Middle America" drove its decision last week to shift creative duties on its ad account from DDB to Saatchi & Saatchi, said Penney chief marketing officer Mike Boylson. The shift came after months of presentations by both DDB in Chicago and Saatchi in New York.
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JC Penney will replace retiring chairman and chief exec Allen Questrom with Myron Ullman as the department-store retailer focuses on its main business after selling the money-losing Eckerd drugstore chain.
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US Airways plans to cut its executive payroll by 20 percent, reducing pay and benefits for its 3,000 managers and eliminating positions, said a newspaper report Wednesday.
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Delta Air Lines Inc. chief executive Gerald Grinstein said his plan to turn around the struggling carrier includes more job cuts.
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Sony Corp.'s  game unit said on  Thursday it planned to cut jobs in the United States and was  eyeing restructuring steps in Japan as it struggles to keep up  with industry rival Nintendo Co. Ltd. .