Tag #Job Cuts

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lefigaro.fr

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May 1, 16:13

French Socialists Propose State Control of ArcelorMittal's Dunkirk Site

The French Socialist Party announced a bill to put ArcelorMittal's Dunkirk site under state control, responding to planned job cuts (636 in France, 1400 transferred to India) and accusing the company of broken commitments, prompting calls for nationalization, stronger industrial policy, and protecti...

French Socialists Propose State Control of ArcelorMittal's Dunkirk Site

The French Socialist Party announced a bill to put ArcelorMittal's Dunkirk site under state control, responding to planned job cuts (636 in France, 1400 transferred to India) and accusing the company of broken commitments, prompting calls for nationalization, stronger industrial policy, and protecti...

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What immediate actions are being taken by the French Socialist Party in response to ArcelorMittal's job cuts and relocation plans?

ArcelorMittal's announced plan to cut 636 jobs in France and transfer 1400 support positions to India has prompted a strong reaction from French Socialists, who are proposing a bill to place the company's Dunkirk site under state control. This follows accusations that ArcelorMittal has failed to meet its commitments and invest in French production. The proposed legislation aims to ensure continued operation and job preservation, potentially leading to a sale or partial nationalization.

liberation.fr

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Apr 30, 22:12

STMicroelectronics Announces 1,000 Job Cuts in France

STMicroelectronics plans to cut about 1,000 jobs in France voluntarily, following a global announcement of up to 2,800 job reductions, amidst a slowdown in the electric vehicle market and internal shareholder conflicts, despite receiving substantial government subsidies.

STMicroelectronics Announces 1,000 Job Cuts in France

STMicroelectronics plans to cut about 1,000 jobs in France voluntarily, following a global announcement of up to 2,800 job reductions, amidst a slowdown in the electric vehicle market and internal shareholder conflicts, despite receiving substantial government subsidies.

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What are the immediate impacts of STMicroelectronics' job cut announcement on its French workforce and the broader French economy?

STMicroelectronics, a semiconductor manufacturer, announced plans to cut approximately 1,000 jobs in France, a move the company claims will be voluntary. This follows an earlier announcement of up to 2,800 job cuts globally. The French workforce will see 1000 voluntary departures, 2500 internal transfers and 300 natural attrition.

africa.chinadaily.com.cn

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Apr 29, 10:19

France to Cut 180,000 Public Sector Jobs in Agency Restructuring

The French government plans to merge or eliminate around one-third of its roughly 1,200 state agencies by the year's end to cut costs and reduce the public-sector budget deficit to meet European Union requirements, potentially resulting in tens of thousands of job losses.

France to Cut 180,000 Public Sector Jobs in Agency Restructuring

The French government plans to merge or eliminate around one-third of its roughly 1,200 state agencies by the year's end to cut costs and reduce the public-sector budget deficit to meet European Union requirements, potentially resulting in tens of thousands of job losses.

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What are the underlying reasons behind the government's decision to cut public spending?

This restructuring reflects the government's commitment to fiscal responsibility and efficiency in public spending, as mandated by the European Union. The planned cuts follow reports highlighting inefficiencies and cost overruns within these agencies, with the Inspectorate General of Finance and iFRAP, a liberal think tank, citing "overstaffing" and "opaque" management as major issues. The government aims to consolidate resources and reduce complexity.

theglobeandmail.com

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Apr 23, 04:12

HBC Employee Representation Contested Amidst Job Cuts and Financial Crisis

Facing financial difficulties and impending job cuts, Hudson's Bay Co. proposed a law firm to represent its employees during CCAA proceedings; however, another firm representing over 400 employees filed a cross-motion, objecting to the appointment due to concerns over severance, benefit cuts, and a ...

HBC Employee Representation Contested Amidst Job Cuts and Financial Crisis

Facing financial difficulties and impending job cuts, Hudson's Bay Co. proposed a law firm to represent its employees during CCAA proceedings; however, another firm representing over 400 employees filed a cross-motion, objecting to the appointment due to concerns over severance, benefit cuts, and a ...

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What are the immediate impacts of Hudson's Bay Co.'s financial crisis on its employees, and what is the significance of the legal dispute over employee representation?

Hudson's Bay Co. (HBC), facing financial crisis and job cuts, proposed Ursel Phillips Fellows Hopkinson LLP as legal representation for its employees in its CCAA proceedings. However, Koskie Minsky LLP, representing over 400 current and former HBC employees, filed a cross-motion, contesting this appointment due to employee distrust of HBC's choice and concerns over severance and benefit cuts. The situation highlights the significant impact of HBC's financial distress on its employees.

nytimes.com

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Apr 20, 22:13

Mass Federal Firings Under Trump Administration

The Trump administration and Elon Musk are demanding mass firings of federal employees, already resulting in tens of thousands of job losses across numerous agencies, impacting services nationwide.

Mass Federal Firings Under Trump Administration

The Trump administration and Elon Musk are demanding mass firings of federal employees, already resulting in tens of thousands of job losses across numerous agencies, impacting services nationwide.

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What are the immediate consequences of the mass firings in federal agencies across the United States?

The Trump administration, along with Elon Musk, has mandated significant federal staff reductions, resulting in tens of thousands of job losses through buyouts and firings. This impacts numerous agencies, including the Department of Veterans Affairs (over 480,000 employees in March 2024), IRS (potential loss of up to a third of its staff), and the Department of Health and Human Services (already down 24 percent).

liberation.fr

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Apr 10, 22:10

STMicroelectronics to Cut 2,800 Jobs Amidst Financial Difficulties

STMicroelectronics announced plans to cut up to 2,800 jobs globally by 2027 to reduce operating expenses by €288-€345 million, following a 23.2% revenue drop in 2024 to €12.5 billion, as part of a broader transformation plan focusing on key semiconductor technologies and AI-driven productivity impro...

STMicroelectronics to Cut 2,800 Jobs Amidst Financial Difficulties

STMicroelectronics announced plans to cut up to 2,800 jobs globally by 2027 to reduce operating expenses by €288-€345 million, following a 23.2% revenue drop in 2024 to €12.5 billion, as part of a broader transformation plan focusing on key semiconductor technologies and AI-driven productivity impro...

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What are the immediate consequences of STMicroelectronics' planned job cuts, and how will this impact the company's financial performance?

STMicroelectronics, a Franco-Italian semiconductor company, confirmed plans to cut up to 2,800 jobs globally over three years. This follows a January announcement of potential job cuts and aims to reduce operating expenses by €288-€345 million by 2027. The cuts will be achieved through voluntary departures, primarily in 2026 and 2027.

theguardian.com

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Apr 30, 19:21

UPS Announces 20,000 Job Cuts Amidst Trade Policy Changes

UPS plans to cut roughly 20,000 jobs in 2025 and close 73 facilities by June 2025 due to changes in global trade policy and lower shipping volumes from customers like Amazon, despite reporting $21.5 billion in consolidated revenue for the first quarter of 2025.

UPS Announces 20,000 Job Cuts Amidst Trade Policy Changes

UPS plans to cut roughly 20,000 jobs in 2025 and close 73 facilities by June 2025 due to changes in global trade policy and lower shipping volumes from customers like Amazon, despite reporting $21.5 billion in consolidated revenue for the first quarter of 2025.

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What are the immediate impacts of UPS's announced job cuts and facility closures on its workforce and financial performance?

UPS announced 20,000 job cuts in 2025, citing changes in global trade policy and tariffs, impacting its operational workforce (package sorting, transport, and delivery). This follows a 12,000 job reduction last year and closure of 73 facilities by June 2025. Consolidated revenues for Q1 2025 were $21.5 billion, slightly down from $21.7 billion in Q1 2024.

welt.de

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Apr 29, 16:13

Stihl Cuts 500 Jobs Amidst Economic Slowdown

German chainsaw manufacturer Stihl is cutting around 500 jobs globally due to economic challenges, with reductions primarily affecting administrative roles and no planned redundancies; despite a slight revenue increase in 2024 (€5.33 billion), this is below the pandemic peak.

Stihl Cuts 500 Jobs Amidst Economic Slowdown

German chainsaw manufacturer Stihl is cutting around 500 jobs globally due to economic challenges, with reductions primarily affecting administrative roles and no planned redundancies; despite a slight revenue increase in 2024 (€5.33 billion), this is below the pandemic peak.

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What is the immediate impact of the global economic downturn on Stihl's workforce and operational strategy?

Stihl, a German chainsaw and gardening equipment manufacturer, will cut approximately 500 jobs globally due to challenging economic conditions. The reductions will primarily affect administrative roles, with a focus on socially responsible measures like voluntary programs and natural attrition. No forced redundancies are planned.

dailymail.co.uk

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Apr 24, 19:17

Nissan Forecasts Record \£4 Billion Loss Amidst Restructuring

Nissan drastically revised its financial forecast, projecting a net loss of \¥700-750 billion (\£3.7-4 billion) for 2024-25 due to restructuring costs and sales slumps in major markets like China and the US, prompting a cost-cutting plan involving potential plant closures and job cuts under new CEO ...

Nissan Forecasts Record \£4 Billion Loss Amidst Restructuring

Nissan drastically revised its financial forecast, projecting a net loss of \¥700-750 billion (\£3.7-4 billion) for 2024-25 due to restructuring costs and sales slumps in major markets like China and the US, prompting a cost-cutting plan involving potential plant closures and job cuts under new CEO ...

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What is the magnitude of Nissan's revised net loss prediction for the 2024-25 financial year, and what are the primary contributing factors?

Nissan's revised financial forecast shows a net loss of \¥700-750 billion (\£3.7-4 billion) for 2024-25, significantly higher than the initially predicted \¥80 billion (\£426 million). This substantial increase is attributed to restructuring costs and a reduction in the value of production facilities. The company is implementing a cost-cutting plan involving job cuts and reduced production capacity.

theglobeandmail.com

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Apr 21, 01:17

Hudson's Bay Seeks Legal Counsel for Employees Amid Mass Job Cuts

Hudson's Bay Co., facing liquidation, is cutting thousands of jobs and ending benefits, prompting a court request to appoint new legal counsel for affected employees, and talks with lenders for a hardship fund to aid those facing financial strain.

Hudson's Bay Seeks Legal Counsel for Employees Amid Mass Job Cuts

Hudson's Bay Co., facing liquidation, is cutting thousands of jobs and ending benefits, prompting a court request to appoint new legal counsel for affected employees, and talks with lenders for a hardship fund to aid those facing financial strain.

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What immediate actions is Hudson's Bay taking to address the financial hardship of its employees following widespread job cuts and benefit terminations?

Hudson's Bay Co., facing liquidation, is cutting thousands of jobs and ending benefits, prompting a court request to appoint new legal counsel for affected employees. The company also seeks to establish a hardship fund for employees facing financial difficulties due to benefit cuts. This follows earlier terminations of 272 corporate employees without severance.

nos.nl

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Apr 14, 19:15

Tata Steel Netherlands to Cut 1600 Jobs Amidst Reorganization

Tata Steel Netherlands announced it will cut 1600 jobs (1/6 of its workforce) due to financial losses and the need to improve competitiveness, causing employee concern and potential strike action; the company aims to secure government funding for a green transition and improve its profitability.

Tata Steel Netherlands to Cut 1600 Jobs Amidst Reorganization

Tata Steel Netherlands announced it will cut 1600 jobs (1/6 of its workforce) due to financial losses and the need to improve competitiveness, causing employee concern and potential strike action; the company aims to secure government funding for a green transition and improve its profitability.

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What are the immediate consequences of Tata Steel's job cut announcement for its employees and the local community?

Tata Steel in the Netherlands announced a reorganization plan that will eliminate 1600 of its 9200 jobs, impacting approximately one in six employees. This decision follows the company's financial losses and its aim to improve competitiveness within the European steel market. The news has caused significant concern among employees, many of whom are worried about their job security and financial stability.

theguardian.com

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Apr 9, 01:17

Trump Administration to Cut \$500M Grant for Ohio Steel Manufacturer

The Trump administration plans to cut a \$500 million grant for Cleveland-Cliffs, an Ohio steel manufacturer, eliminating over 1300 jobs and hindering the transition to cleaner energy sources, despite earlier promises to boost domestic manufacturing.

Trump Administration to Cut \$500M Grant for Ohio Steel Manufacturer

The Trump administration plans to cut a \$500 million grant for Cleveland-Cliffs, an Ohio steel manufacturer, eliminating over 1300 jobs and hindering the transition to cleaner energy sources, despite earlier promises to boost domestic manufacturing.

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What are the long-term implications of this decision for US manufacturing, job growth, and climate goals?

The cancellation of the grant may signal a broader shift towards prioritizing fossil fuels over clean energy investments in US manufacturing. This could hinder efforts to decarbonize the steel industry, potentially leading to increased carbon emissions and job losses in the long term. The project's failure highlights the vulnerability of green initiatives to political shifts.

Showing 109 to 120 of 302 results