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Nike to cut 1400 jobs
Nike Inc, the world’s largest athletic shoe and clothing maker, warned on Tuesday that up to 4 per cent of its workforce could be cut amid an ongoing business review aimed at bringing products more quickly to market while reducing expenses. Up to 1,400 jobs out of about 35,000 globally could be cut and Nike More...
WS Atkins cut 210 jobs in Dubai
WS Atkins Plc, the UK’s biggest engineering design company, plans to cut about 1,000 jobs as clients delay or cancel projects amid a construction slump in Britain and the Middle East. Atkins, which employed about 18,600 people last summer, will reduce its headcount by five percent, including 210 Dubai employees, England-based company said in a More...
UBS to cut 2,000 jobs
UBS posted the biggest ever annual loss for a Swiss firm and it will axe 2,000 more jobs as it restructures to focus on wealth management. UBS reported an 8.1 billion Swiss francs (Dh25.6 billion) net loss in the fourth quarter, missing a Reuters poll forecast for 7.1 billion Swiss francs. UBS’ loss for 2008 More...
RBS to cut 2300 jobs in UK
The Royal Bank of Scotland (RBS) Group could cut up to 2,300 jobs in Britain or around two per cent of its local workforce of 106,000, the bank said in a statement on Tuesday. The layoffs will not affect customer-facing staff, RBS added. From Gulf News var addthis_pub = 'kashaziz'; var addthis_brand = 'Daily Recession';var More...
Dubai World Lays Off 100 Employees
Government-run holding company Dubai World said on Tuesday it laid off 100 employees as it restructures its workforce amid the deepening global economic downturn. The decision affected employees in the company’s corporate services division, consisting mostly of mid and lower level staff. “The consolidation follows a prolonged period of intense business expansion. In reviewing staffing More...
Nissan to cut 20,000 jobs
Nissan Motor Company Ltd. on Monday said it plans to cut 20,000 workers worldwide because of losses stemming from the global recession. The Japanese automaker said the reductions, which will take place over the next year, are part of a cost-savings effort that includes job sharing, eliminating car lines and reorganizing corporate divisions. The job More...