Tag Archive | "job cut"

Credit Suisse to cut jobs as profit falls

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Credit Suisse, Switzerland’s second biggest bank, announced Thursday it would lay off staff due to a 63% sink in profit in the third quarter. The company issued a statement which said the bank’s revenue fell 13% and that it will cut jobs as part of a cost-cutting program. The Wall Street Journal reports: Credit Suisse [...]

NAB to restructure UK branch

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SYDNEY – National Australia Bank said Monday it will cut more than 1,400 jobs in the U.K. as part of a $305 million restructuring of its banking business there. NAB said the need for change at Clydesdale Bank was precipitated by a weakening economy and declining real estate prices in the U.K. as well as [...]

Billabong cuts jobs to restore its fortunes

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SYDNEY – Australian surfretailer Billabong announced Friday it will cut 400 jobs worldwide and close dozens of stores. The move is an attempt by the company to restore its fortunes. Billabong’s cost-cutting drive and a decision to sell half of its Nixon Inc. watches and accessories brand was announced as the company reported a 71 [...]

Novartis to cut almost 2,000 US jobs this year

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GENEVA – Swiss pharmaceutical company Novartis AG says it is cutting 1,960 jobs in the United States this year. The drug maker says the job cuts will affect 1,630 sales positions in the field and 330 posts at its U.S. headquarters in New Jersey. The Basel-based company says the restructuring is necessary because of the [...]

Thomas Cook to cut more than 600 jobs

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LONDON – British tour operator Thomas Cook says it will close 200 stores and cut at least 660 jobs, after tourism to Tunisia and Egypt dried up during anti-government protests. Europe’s second largest tour operator said Wednesday that many customers had also been badly affected by the European economic crisis. The group also reported its [...]