Societe Generale SA France (GLE.FR) said Tuesday that it is launching two restructuring projects that could lead to up to 1,600 jobs being cut from its global operations. The French bank said it plans to revamp its global-banking and investor-solutions businesses, and modify the organizational structure of its international retail banking and financial-services activities in a push to boost profitability.
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French bank SocGen plans to cut 1,600 jobs in bid to buoy profitsSociete Generale, France's third-largest bank, unveiled on Tuesday a plan to cut 1,600 jobs, mainly at its corporate and investment banking arm, in a bid to buoy profitability after last year's poor performance.
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Societe Generale is reportedly slashing 700 jobs in Paris and hundreds more in London and New York after brutal quarterSociete Generale will cull up to 700 positions, with hundreds more expected in London and New York, Bloomberg reported.
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Boeing will cut production of its 737 Max plane amid growing international crisisThe announcement Friday confirms an earlier report by Reuters that cutting production of the 737 Max was among options the planemaker was considering
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Boeing Cutting 737 Production Amid Crash Investigations And Delivery FreezeBoeing is reducing production of its flagship line to 42 planes a month from 52 starting mid-April, in a move that could be more painful for suppliers than the plane maker.
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Boeing to cut 737 Max production rate amid growing safety concernsThe company announced Friday that it will decrease the production rate from 52 planes a month to 42.
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Oil hits November 2018 highs amid OPEC supply cuts, U.S. sanctionsOil prices rose to five-month highs on Monday, driven up by OPEC's ongoing ...
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Oil at five-month highs amid OPEC-led supply cuts, U.S. sanctionsOil prices rose to their highest level since Nov. 2018 on Monday, driven up by O...
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Oil climbs to five-month high amid OPEC cuts, U.S. sanctions and Libya fightingOil prices rose to their highest level since November 2018 on Monday, driven upw...
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Lowe's is cutting hundreds of jobs and switching even more employees to its headquartersLowe's will lay off around 200 workers in the Charlotte area and shift 600 other full-time employees to its headquarters.
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Despite robust jobs report, some sectors are cutting staff in anticipation of a recession“The most concerning thing is the loss of jobs in manufacturing, which we’ve all been on red alert for. That’s not a good sign for investment in this country,” said one economist.
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