LONDON (Reuters) - HSBC is cutting more than 2,200 jobs in Britain as part of its drive to slash costs and boost profitability in the face of a changing banking landscape. Unite union said 3,167 roles would be impacted by the cuts, but HSBC said almost 1,000 staff would be redeployed or other positions would be created elsewhere, and the net job loss would be 2,217. Further details will be released later on Thursday. ...
HSBC is cutting more than 2,200 jobs in Britain as part of its drive to slash costs and boost profitability in the face of a changing banking landscape. Unite union said 3,167 roles would be impacted by ...
Under pressure from an activist shareholder, Cliffs Natural Resources Inc said on Tuesday it will slash capital spending, forgo a planned expansion at a key Canadian mine and shut another mine in Canada, cutting about 500 jobs.
Cliffs, a Cleveland-headquartered iron ore and coal producer, said it plans to reduce its capital spending in 2014 by more than 50% to between $375 million and $425 million as it cuts back its Bloom Lake Mine expansion and idles production at its Wabush Mine.
Damages related to Greek debt exposure continue to mount. ING and BNP have both taken writeoffs related to Greek debt and both are cutting jobs.Expect more damage related to sovereign debt in Spain, Portugal, and Italy as well as general writeoffs related to the European recession. Please see Europe Undeniably in Recession; Germany Manufacturing PMI Contracts for First Time in Two Years, New Orders Collapse for a discussion of the recession.
NDP Leader Andrea Horwath is keeping her foot on the accelerator when it comes to cutting auto insurance premiums, even if it means speeding into a spring election.
Horwath insists that if the minority Liberals don’t cut premiums by 15% in the spring budget — in additional to other demands — she won’t be afraid to pull the trigger.
“I’ve told the premier what I expect. She knows what I want to see in the budget,” Horwath said Friday.
Reuters - HSBC Holdings will run down its $33 billion U.S. credit card business if it cannot find a buyer, the bank's chief executive said on Monday, part of efforts to slash costs and cut back on retail banking.