[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'S')oftware maker VMware Inc plans to cut about 7 percent of its workforce as part of a restructuring, and it gave a cautious outlook for 2013 due to a decline in U.S. federal government spending and the likelihood of more tough economic times in Europe. The company's shares fell 14.6 percent in after-hours trading. Chief Financial Officer Jonathan Chadwick said that strategy included shifting some people to new roles as well as cutting 900 jobs, resulting in a charge of $90 million to $110 million. Most of that would be taken in the first quarter, he said.

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news.yahoo.com :

$this->bbcode_second_pass_quote('', 'T')ime Inc., the magazine unit of Time Warner Inc., says it is cutting 6 percent of its global staff of 8,000, or about 500 people. In a memo to staff, Time CEO Laura Lang said the company must become leaner, more nimble, and operate on multiple platforms.

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channelnewsasia.com :

$this->bbcode_second_pass_quote('', 'S')ingapore Airlines (SIA) said on Wednesday that it has taken the difficult decision of asking 76 pilots on fixed-term contracts to leave by end of June. The airline currently has a surplus of pilots as the global financial crisis of 2009-10 had resulted in excess capacity and slower-than-expected growth. SIA saw its net profit in the first-half of the current fiscal year ending March fall by 30 per cent on-year. This followed a 69 per cent drop in net profit in the airline's financial year ending March 2012.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'C')itigroup Inc is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, according to two people familiar with the matter. In December, Citigroup said it was withdrawing from consumer banking in five countries - Pakistan, Paraguay, Romania, Turkey and Uruguay - as part of an expense reduction plan that will save $1.1 billion a year and eliminate 11,000 jobs. The cuts were one of Michael Corbat's first major steps as chief executive, a position he took in October. "There is more on the list," said a source familiar with the situation.

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news.yahoo.com :

$this->bbcode_second_pass_quote('', 'B')arclays is to axe at least 3,700 jobs and prune its investment bank under a restructuring plan launched by its new chief executive on Tuesday which seeks to cut 1.7 billion pounds ($2.7 billion) in annual costs and improve standards. Antony Jenkins said the job cuts will include 1,800 in corporate and investment banking and 1,900 in its European retail and business banking. He plans to focus investment in Britain, the United States and Africa, and cut back its presence across Europe and Asia.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'T')he cuts were expected to mean reductions this year of 8 percent in defense and 5 percent in nondefense programs. But because lawmakers recently delayed the impact until March 1 - meaning they will affect only the last seven months of the government's budget year - the sequester will force deeper reductions of 13 percent for defense and 9 percent for other programs ...

Education Secretary Arne Duncan told Congress that 70,000 Head Start pupils would be removed from the pre-kindergarten program, about 1 of every 13. Duncan warned those cuts would mean layoffs of 10,000 teachers and thousands of other staffers because of cuts in federal dollars that state and local governments use for schools ...

[Tanada]

$this->bbcode_second_pass_quote('lowem', '
')$this->bbcode_second_pass_quote('', 'T')he cuts were expected to mean reductions this year of 8 percent in defense and 5 percent in nondefense programs. But because lawmakers recently delayed the impact until March 1 - meaning they will affect only the last seven months of the government's budget year - the sequester will force deeper reductions of 13 percent for defense and 9 percent for other programs ...

Education Secretary Arne Duncan told Congress that 70,000 Head Start pupils would be removed from the pre-kindergarten program, about 1 of every 13. Duncan warned those cuts would mean layoffs of 10,000 teachers and thousands of other staffers because of cuts in federal dollars that state and local governments use for schools ...

[dolanbaker]

$this->bbcode_second_pass_quote('', '
')http://www.bbc.co.uk/news/business-21591486
JP Morgan Chase has increased its planned job cuts to 19,000 by the end of next year.

The US bank revealed plans to reduce headcount by 3,000-4,000 at its consumer and community banking unit, in a presentation.

And it reiterated previously announced plans to shed 13,000-15,000 jobs at its mortgage banking unit.

It expects about 4,000 losses to come this year, mainly through attrition, a spokeswoman said.

JP Morgan Chase is the biggest US bank.

At the end of last year it employed almost 260,000 people

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$this->bbcode_second_pass_quote('dolanbaker', 'J')P Morgan Chase has increased its planned job cuts to 19,000 by the end of next year. The US bank revealed plans to reduce headcount by 3,000-4,000 at its consumer and community banking unit, in a presentation. And it reiterated previously announced plans to shed 13,000-15,000 jobs at its mortgage banking unit.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'C')aterpillar Inc , the world's largest maker of construction equipment, plans to cut 1,400 jobs at a plant near Charleroi in Belgium due to high costs and the weak European economy, the group's Belgian unit said on Thursday. The job cuts at Caterpillar are the latest in a string of large-scale layoffs in Belgium. The world's largest steelmaker, ArcelorMittal , said in January it planned to shut facilities at its site in Liege, with the likely loss of around 1,300 jobs, while Ford Motor Co announced last October it would close its plant in Genk, affecting 4,000 workers.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'B')oeing Co will cut hundreds of jobs at a South Carolina plant that makes 787 Dreamliners over the course of this year, but the move has nothing to do with the recent grounding of the troubled jetliner, the Wall Street Journal reported on Thursday. Two high-profile battery malfunctions led to international aviation regulators grounding the jetliner in mid-January. The cuts could account for up to 20 percent of the workforce in some teams at the plant in North Charleston, South Carolina. Overall, the plant employs more than 6,000 people.

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news.yahoo.com :

$this->bbcode_second_pass_quote('', 'C')itigroup Inc said it is eliminating about 1,000 jobs in its U.S. home mortgage business, making it the latest bank to lay off staff as higher interest rates cut into demand for new loans and refinancing. Banks including Wells Fargo & Co , JPMorgan Chase & Co and Bank of America have announced thousands of layoffs in their home lending units in recent weeks. With mortgage rates having risen to their highest in two years, applications to refinance home loans plunged in early September to their lowest in nearly four years.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'A')ustralia's largest phone company, Telstra Corp Ltd, said it will cut 1,100 jobs, or around 3.6 percent of its Australian workforce, by mid-2014 as part of a company-wide restructuring. The latest cuts follow the announcement of 170 job losses in July due to a shift in backoffice operations to India.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'G')erman engineering and technology giant Siemens said it plans to slash 15,000 positions worldwide by late next year as part of a cost-cutting drive, including 5,000 in its home country. The ongoing "Siemens 2014" drive in total aims to save more than six billion euros ($8.1 billion) ... Siemens has about 370,000 employees worldwide, including 119,000 in Germany. Shortly after announcing the changes, the company released its results for its fiscal third quarter, posting a 43-percent jump in net profit to 1.1 billion euros, mostly due to the spin-off of lighting company Osram.

[lowem]

channelnewsasia.com :

$this->bbcode_second_pass_quote('', 'J')apan's Toshiba said it would shut or sell two of its three wholly-owned overseas television plants in the next six months, shedding 2,000 jobs. The company, which has already ceased domestic production of television sets, said it will "integrate" its manufacturing facilities in China, Indonesia and Poland by the end of March 2014. "Toshiba will focus on emerging markets including Asia, the Middle East and Africa, where growth in demand is expected," the company said in a statement.

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news.yahoo.com :

$this->bbcode_second_pass_quote('', 'T')eva Pharmaceuticals says it will cut 5,000 employees by the end of next year as part of a restructuring designed to slim the drugmaker's business and make it more efficient. The Israeli company says the cuts amount to a 10 percent global workforce reduction. Teva Pharmaceutical Industries Ltd. is one of the world's largest generic drugmakers. It has struggled in recent quarters with declining sales for both generic and brand-name drugs.

[lowem]

news.yahoo.com :

$this->bbcode_second_pass_quote('', 'M')erck & Co. plans to cut another 8,500 jobs as the drugmaker continues its struggle with competition from cheaper generic medications that have squeezed the pharmaceutical industry for several quarters now. Since early in the last decade, Merck has been steadily slashing jobs and announcing a new restructuring program every two or three years. After buying Schering-Plough Corp. in November 2009, the combined company had a total of about 100,000 jobs. Like many other drugmakers, the company is being squeezed by the weak global economy, private and government health programs pushing for lower medicine prices, and generic competition that slashes revenue from former blockbuster drugs.

[dolanbaker]

$this->bbcode_second_pass_quote('', '
')http://www.bbc.co.uk/news/business-26131799
Barclays plans to cut between 10,000 and 12,000 jobs this year, including 7,000 in the UK.

The bank, which has 140,000 staff in total, said it had already told about half of the staff affected.

The cuts came as Barclays said it had increased the total amount it paid on staff bonuses last year.

The bank's total bonus pool for 2013 rose by 10% to £2.38bn, from £2.17bn in 2012, with the investment bank's bonus pool increasing by 13%.