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General Electric's workforce grew 6 percent last year - SEC filing
General Electric Co(GE) added 18,000 thousand employees to its worldwide workforce last year, a 6.1 percent increase that comes as the company is trying to cut costs to shore up its profits, according to a regulatory filing on Friday.
General Electric's workforce grew 6 percent last year: SEC filing
NEW YORK (Reuters) - General Electric Co added 18,000 thousand employees to its worldwide workforce last year, a 6.1 percent increase that comes as the company is trying to cut costs to shore up its profits, according to a regulatory filing on Friday.
Amazon to create another 125 tech jobs in Pittsburgh
Amazon has announced plans to create another 125 technology jobs in Pittsburgh, more than doubling its current tech workforce in the city.
Audi chairman says reports about ouster of CEO Stadler are false
Audi Chairman Matthias Mueller said on Friday that reports about an imminent ouster of Chief Executive Rupert Stadler are false. "Audi needs the full concentration of its management and the entire workforce under the proven leadership of Rupert Stadler to handle the current challenges and steer the brand further into the future," Mueller was quoted as telling Audi workers on Friday.
BRIEF-Axovant Sciences Initiated Reduction In Its Workforce
* AXOVANT SCIENCES LTD - ON FEBRUARY 12, INITIATED A
REALIGNMENT THAT INCLUDED A REDUCTION IN ITS WORKFORCE - SEC
SunPower mulls over cost savings, halts U.S. expansion plans
SunPower Corp. late Wednesday said it has put on hold a $20 million plan to expand its workforce in the U.S. and is considering "other significant cost saving initiatives" to lower its expenses and improve its financial performance. Shares were halted. The solar-power company reported a wider quarterly loss and a revenue miss for the fourth quarter. SunPower said it lost $569 million, or $4.07 a share, in the quarter, compared with a loss of $275 million, or $1.99 a share, in the fourth quarter of 2016. Adjusted for one-time items, the company earned $36 million, or 25 cents a share, in the period, compared with $3.3 million, or 2 cents a share, a year ago. Revenue fell to $658 million, from $1.02 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 11 cents a share on sales of $797 million. The company said it expects revenue of $1.6 billion to $2 billion for the year. SunPower said it had applied for tariff exemptions for certain products following the government's decision to apply new tariffs on solar cells and modules. "Unfortunately, we are already seeing a negative near-term impact from the ruling as the increased costs due to import tariffs have delayed certain 2018 projects and made other projects uneconomical," the company said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
CafePress announces layoffs, CEO pay cut in effort to return to profit
CafePress Inc. said late Tuesday it had laid off about 5% of its workforce at its Louisville, Ky., headquarters and given chief executive and co-founder Fred E. Durham III a pay cut in seeking to return to profitability. The retailer said it reduced Durham's annual base salary to $125,000, from $300,000. CafePress said it expects cost reductions around $4 million. CafePress said its revenue declined in the second and third quarters of 2017 thanks to what it believes were changes in search engine algorithms hampering the company's search visibility and traffic on the current site. "The company remains focused on completing the modernization of CafePress.com and demolishing the old site and will roll out significant portions of the modernization in the first quarter of 2018," CafePress said. Shares of CafePress were flat in late trading after ending the regular session up 14%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-CafePress Reduced Workforce At Louisville By 5 Percent
Cafepress Inc(PRSS): * CAFEPRESS ANNOUNCES CHANGES TO BOARD OF DIRECTORS, BUSINESS UPDATE AND COST SAVINGS INITIATIVES. * âAS OF JANUARY 9, 2018, COMPANY HAS REDUCED WORKFORCE AT ITS LOUISVILLE HEADQUARTERS BY 5 PERCENT â. * âANNOUNCING CERTAIN ACTIONS TAKEN TO DRIVE REDUCTIONS OF APPROXIMATELY $4 MILLION IN NORMALIZED, ANNUAL FIXED COSTSâ Source text for Eikon: Further company coverage:
U.S. job openings fall to 7-month low at end of 2017
WASHINGTON (MarketWatch) - The number of job openings in the United States fell slightly in December to a seven month low of 5.81 million, the government said Tuesday. Openings have fallen from a recent record high high in part because companies filled some 1.3 million positions in the second half of 2017. Companies hire 5.49 million people in December while 5.24 million Americans lost their jobs. About 3.3 million people quit their jobs. The percentage of people in the workforce who walked away from their old jobs, known as the quit rate, rose a notch to 2.2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Top Goldman exec says women still not adequately represented in its workforce
Despite making some progress in recent years, Goldman Sachs Group Inc (GS) has not raised the proportion of women in its workforce to an adequate level, especially in senior management, one of its top executives said on Wednesday.
Pandora to cut 5 pct of jobs
Jan 31 (Reuters) - Pandora Media Inc will cut 5
percent of its workforce and take other measures to save costs,
as it battles intense competition in the online music streaming
#MeToo movement puts pressure on U.S. banks to disclose diversity data
(Reuters) - The #MeToo movement has put new momentum behind efforts to have companies, especially in finance, disclose details about their workforce diversity – data that could throw into sharper relief the slow pace of progress for women and minorities in the field.
Why The Federal Workforce Morale Is At An All-Time Low
The federal work force morale is at an all-time low, according to some accounts. That might be because the number of workers is roughly the same as it was 30 years ago, while there are 100 million more people in the country.
BRIEF-UK Business Minister Greg Clark Comments On U.S. Trade Ruling
* UK BUSINESS MINISTER GREG CLARK ON U.S. TRADE RULING SAYS "EXCELLENT NEWS THAT INTEREST'L TRADE COMMISSION FOUND UNANIMOUSLY IN FAVOUR OF BOMBARDIER" * UK BUSINESS MINISTER ON U.S. TRADE RULING SAYS "BIG BOOST FOR WORKFORCE IN BELFAST WHICH HAS GREAT FUTURE WITH NEW ORDER"
UPDATE 2-Hess cutting hundreds of workers as it battles activist investor
HOUSTON, Jan 16 (Reuters) - Hess Corp is cutting
roughly 13 percent of its workforce and streamlining operations
as it battles an activist hedge fund shareholder pushing for the
U.S. oil and gas producer to post its first quarterly profit
BRIEF-Klondex Announces Reduction In Underground Operations And Workforce At True North
Klondex Mines Ltd(KLDX): * KLONDEX ANNOUNCES A REDUCTION IN UNDERGROUND OPERATIONS AND WORKFORCE AT TRUE NORTH AND EXECUTIVE MANAGEMENT CHANGE. * SAYS PRELIMINARY FY 2017 GOLD OUNCE PRODUCTION FROM TRUE NORTH IS ESTIMATED TO BE ABOUT 24,000 - 27,000 OUNCES. * SAYS DECIDED TO LIMIT UNDERGROUND MINING AT TRUE NORTH TO AREAS ALREADY DEVELOPED.
Tenet Healthcare's stock drops after increased job cuts, lower adjusted profit outlook
Shares of Tenet Healthcare Corp. dropped 3.9% in afternoon trade Monday, after the health care services company increased its workforce reduction target by over 50% in an effort to cut more costs. The company said in a presentation at the J.P. Morgan Healthcare Conference in San Francisco it would cut about 2,000 jobs as it targets an annualized $250 million in cost reductions by the end of 2018. At the Bank of America Merrill Lynch Leverage Finance Conference on Nov. 29, Tenet said it would eliminate 1,300 jobs and targeted cost cuts of $150 million. Separately, the company cut its 2018 adjusted earnings-per-share guidance range to 58 cents to 97 cents from $1.07 to $1.36, because it will no be able to recognize for accounting purposes the future benefit related to excess interest expense limitation carryforward, as a result of the new tax law. The FactSet 2018 adjusted EPS consensus was $1.23. The stock has lost 5.3% over the past three months, while the SPDR Health Care Select Sector ETF has gained 2.4% and the S&P 500 has climbed 7.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Drone-camera chip maker Ambarella's stock falls after GoPro to exit drone market
Shares of Ambarella Inc. fell 1% in morning trade Monday, in the wake of GoPro Inc.'s revenue warning and announcement that it was exiting the drone business. The maker of chips for cameras in drones said in its latest quarterly filing with the Securities and Exchange Commission that GoPro accounted for 19% of its fiscal 2017 revenue. GoPro's stock plunged 21%, the biggest one-day selloff since the action-camera maker went public in June 2014, after the company said it will exit the drone business because the "hostile regulatory environment" in the U.S. and Europe make the aerial market "untenable." GoPro also said it was cutting its workforce by more than 20% and provided a fourth-quarter revenue outlook that was well below expectations. Ambarella's stock has run up 27% over the past three months, while GoPro shares have plunged 40% and the S&P 500 has gained 7.6%. Earlier Monday, Amabarella introduced a new camera chip, for use in the home monitoring, automotive, drone and wearable camera markets.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
America’s 24 dying industries include sound studios, textiles, newspapers
While the economy as a whole grew at a healthy pace, workforce growth was far from uniform. Industries that at one time seemed unassailable now appear to be hanging by a thread.
BRIEF-Allergan Intends To Eliminate Over 1,000 Currently Filled Positions
* SAYS ANNOUNCED TO GLOBAL WORKFORCE SPECIFIC EMPLOYMENT
REDUCTIONS, OTHER COST-CUTTING ACTIONS BEING TAKEN, CONSISTENT
WITH NOV ANNOUNCEMENT
Zions Bancorp will pay employee bonuses, boost salaries thanks to tax bill
Zions Bancorp , the Salt Lake City-based large regional bank, said Tuesday it would pay $1,000 bonuses to nearly 80% of its workforce and increase compensation for nearly 40% of employees as a result of the tax legislation passed late in December. Wells Fargo and Fifth Third Bank previously announced they would increase the minimum wage they pay. Zions stock gained 18% over the past 12 months, lagging the 19.4% gain for the S&P 500 . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Randolph Bancorp says to cut 8 pct of workforce in mortgage banking operations
Randolph Bancorp Inc(RNDB): * RANDOLPH BANCORP SAYS PLANS TO REDUCE OPERATING EXPENSES THROUGH WORKFORCE REDUCTION IN ITS MORTGAGE BANKING OPERATIONS - SEC FILING. * Randolph Bancorp Inc(RNDB) - WORKFORCE REDUCTION INVOLVES APPROXIMATELY 8% OF COMPANY'S EMPLOYEES AND WILL TAKE EFFECT BY YEAR END.
Teva Pharm to lay off a quarter of workforce, suspends dividend
TEL AVIV (Reuters) - Teva Pharmaceutical Industries is to cut its workforce by more than a quarter, give up many of its manufacturing plants and suspend its dividend on ordinary shares in a much-anticipated overhaul to help pay off its debts.
UPDATE 2-Israel's Teva to launch restructuring plan on Thursday
TEL AVIV, Dec 13 (Reuters) - Israel-based Teva
Pharmaceutical Industries will unveil a restructuring
plan on Thursday, the company said on Wednesday, after a
financial news website said the jobs of more than a half of its
Israeli workforce were set to be cut.
The small jeans firm with a big ambition
With a workforce of just 15 people, the Hiut Denim Company now sells its jeans around the world from its small factory in rural Wales.
BRIEF-PAR Technology Reduces Workforce by 4 Pct
Par Technology Corp(PAR): * PAR TECHNOLOGY SAYS ON DECEMBER 11, CO IMPLEMENTED A 4 PERCENT REDUCTION IN ITS WORKFORCE - SEC FILING Source text for Eikon: Further company coverage:
Robots could displace 375 million workers by 2030: McKinsey
Major workforce disruption is coming – here is what you need to do to prepare.
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