TUI to axe 3,600 jobs in drive to cut costs, boost profits
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TUI, Europe's leading travel and tourism group, has unveiled plans to axe thousands of jobs as part of a 250-million-euro (330-million-dollar) cost-cutting drive aimed at steering the group back to higher profits.
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Automotive supplier Delphi Corporation said Friday that its plans to eliminate 3,000 US jobs next year will impact its Ohio operations.
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The worldâs third-largest oil firm also said it planned to dispose of Â£5.6bn to Â£6.7bn of non-core businesses over the three years and would look at &quot;focused acquisitions&quot; to create value.
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Engineering firm Rolls-Royce says its plans to cut up to 2,300 jobs to reduce costs and improve efficiency.
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Oil firm 'loath' to confirm number Oil giant Royal Dutch Shell has told its staff that it plans to make more than 3,000 job cuts.â¦
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Job trimming at technology companies took off during the past three months, according to a new report. Announced job cuts in the technology sector hit 54,701 in the third quarter, up 60 percent from the second
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Third-quarter cuts in the tech sector shot up 60 percent from the previous quarter, an employment services company reports.
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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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The reduction of a little more than 6 percent of its work force was part of a cost-cutting program designed to save $700 million by 2009.
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The British Broadcasting Corporation is cutting nearly 3,000 jobs in a drive to reduce costs. Mark Thompson, director-general of the BBC, told staff members Tuesday that 2,500 jobs
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The company cited "challenging market conditions" and customer uncertainty and said it would eliminate 3,500 more positions.
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Unions and management at Alitalia have struck a deal on payoffs for 3,700 employees set to lose their jobs. The agreement should open the way for the restructuring which could save the Italian carrier from bankruptcy.
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The embattled IT services giant is trying to trim $3 billion in annual costs.
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TUI, Europe's biggest travel and tourism group, is expected to cut between 3,500 and 4,000 jobs in France, Britain and Germany as part of a restructuring effort, a newspaper reported.
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TUI -- Europe's leading tourism and travel group -- said it is planning to cut eight percent of its workforce in Britain by the end of the year in order to boost efficiency.
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THE photo-equipment maker Kodak yesterday announced plans to axe 600 jobs in the UK and close a factory in Nottinghamshire, in a move in line with the giantâs global restructuring strategy unveiled last January.
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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.