American Express to cut 7,000 jobs
NEW YORK — In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009. More…
The company cites the continued troubles of its cellphone division in reporting the third-quarter loss. Motorola posts big loss, plans to cut 3,000 jobs More…
TOKYO (AFP) – Japan’s Nissan Motor Co. said Friday it was axing 3,500 jobs worldwide and cut its full-year forecasts by two-thirds as the global economic crisis shakes the auto industry. More…
NEW YORK (Reuters) – American Express Co said on Thursday it will cut 7,000 jobs, slash expenses and scale back investments to save $1.8 billion next year, in its biggest restructuring since 2001 as it struggles with bad loans and surging funding costs. More…
Legg Mason said Thursday that it would cut about one-third of the jobs at Legg Mason Capital Management, the first layoffs at its investment unit run by the fund manager Bill Miller, after its assets fell by 53 percent this year. More…