NEW YORK (Reuters) - U.S. newspaper publisher McClatchy said on Monday it would cut 1,600 jobs, or about 15 percent of its workforce, in an attempt to deal with the faltering economy and a decline in advertising revenue.
Britain's state-rescued lender Royal Bank of Scotland announced on Monday that it plans to axe 2,600 jobs.The bank, which is 83-percent owned by the British government after an enormous bailout, plans to cut 2,000 jobs at its insurance division and another 600 positions at its retail head office, a spokesperson told AFP."We are working hard to rebuild RBS in order to repay taxpayers for their support and having to cut jobs is the most difficult part of this process," the spokesperson said.
MELBOURNE (Reuters) - Xstrata Plc is cutting around 600 jobs in its coal business in Australia to help cut costs as it battles sliding coal prices, high costs and currency headwinds, the company said on Monday. Xstrata, subject to a takeover offer from its biggest shareholder, Glencore International Plc, said the cuts wouldn't affect its production volumes in Australia or its approved projects. (Reporting by Sonali Paul; Editing by John Mair)
Internet giant Yahoo! said Tuesday it would cut some 600 jobs, or about four percent of its global workforce, in the third wave of layoffs at the company since late 2008."Today?s personnel changes are part of our ongoing strategy to best position Yahoo! for revenue growth and margin expansion and to support our strategy to deliver differentiated products to the marketplace," the company said in a statement.A Yahoo! spokesperson confirmed the "action impacts approximately four percent of our global employee base or 600 employees.