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Corporate layoffs are churning this earnings season, with companies trying to cut costs while growing their core businesses. We've gathered a list of pink slippers from the past couple weeks. Of course, aggressively cutting costs is only one side of recent corporate strategy. Downsizing while acquiring has been a frequent...
Posted on November 5, 2009 4:12 PM
Accenture Ltd. (NYSE:ACN) is cutting 336 senior-level executive positions. The downsizing comes amid a broader reorganization announced earlier this month designed to refocus talent and resources on high-demand areas such as healthcare, analytics, digital services, mobility and emerging technologies, while also reducing its "excess real estate capacity."The layoffs could be...
Posted on August 21, 2009 10:26 AM
No evidence of it around here, but results just announced by Diageo plc indicate some people are drinking less these days. The owner of brands such as Johnnie Walker, Smirnoff and Guinness reported that due to a dramatic drop in consumer spending in November and December, it is cutting its...
Posted on February 12, 2009 11:41 AM
Recent staffing decisions by executive recruiter Heidrick & Struggles International Inc. offer some insight into how seismic shifts in financial services and tight credit markets are affecting hiring decisions by banks and investment firms worldwide. For one, the firm is adding staff to better manage and build its international financial...
Posted on December 18, 2008 2:28 PM
About 1,500 former Northwest Airline Corp. employees will lose their jobs following a downsizing at the carrier's Minnesota headquarters by new owner Delta Air Lines Inc. Atlanta-based Delta acquired Northwest for $2.6 billion in October, causing concern in the Twin Cities that there could be significant job losses and service...
Posted on December 16, 2008 4:43 PM
Now that Merrill Lynch & Co. shareholders have approved the firm's sale to Bank of America Corp., employees at both companies may finally get word on job cuts. BofA chief executive Ken Lewis told The Charlotte Observer on Thursday that the bank was "in the final stage of analysis" on...
Posted on December 5, 2008 9:58 AM
Thursday's news of AT&T Inc.'s planned 12,000 job cuts, costing it $600 million, is a more of a shock than a surprise given the global financial crisis. The U.S. telecom giant cited economic pressures and a changing business mix as reasons for the 4% work force reduction. That's consistent with...
Posted on December 4, 2008 4:02 PM
It's ironic that amidst waves of bank employee layoffs, talent retention would be a concern among merging financial institutions. But keeping top talent is a key piece of the synergy puzzle for Bank of America Corp., J.P. Morgan Chase & Co., Barclays plc and other acquiring banks. In this edition...
Posted on November 10, 2008 11:32 AM
Don't expect banking industry consolidation to slow anytime soon. That's according to Dino Mauricio, a managing director of M&A integration at the management and financial consultancy Getzler Henrich. Over the next six to eight months, Mauricio predicts we'll see financially stable banks on the hunt. "Weaker banks in this environment...
Posted on November 10, 2008 8:04 AM
We've been writing the last couple of days about the possibility of investment bankers transitioning into corporate development. As we've noted, the skill sets and compensation expectations don't always line up. For some of those newly unemployed Wall Street employees, a job in private equity may seem a more natural...
Posted on June 25, 2008 1:39 PM
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Juergen Lasowski
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