Pearson, the worlds biggest education publisher, announced Thursday that it would cut 4,000 jobs, after issuing its second profit warning in three months. The company said in a statement that the job cuts would be completed by this year and added that the profits for next year could be lower. The jobs to be eliminated account…
Get an inside look at Wall Street with StreetInsider Premium. Get your 2-week free trial here UBS maintained a Buy rating on Morgan Stanley (NYSE: MS), and cut the price target to $34.00 (from $42.00), following the company’s 4Q earnings report. UBS lowered estimates by 16c to $3.00 per share in 2016, and by 12c…
By Suzanne Hodsden Johnson & Johnson (J&J) has announced that it will cut about 3,000 jobs from its medical device business representing 4 to 6 percent of that workforce and about 2.5 percent of the companys global workforce a reorganization move that J&J expects will make way for a changing global marketplace and accelerate innovation.…
Cree, a market leader in LED lighting, today announced revenue of US $436 million for its second quarter of fiscal 2016, ended December 27, 2015. This represents a 5% increase compared to revenue of $413 million reported for the second quarter of fiscal 2015, and a 2% increase compared to the first quarter of fiscal 2016. GAAP net income for the…
Updated Jan. 19, 2016 7:49 p.m. ET Smith & Wesson Holding Corp. SWHC -1.70 % announced plans Tuesday to buy its way into the broader $60 billion outdoor sporting-goods market, reducing its reliance on volatile sales of guns and ammunition. The largest U.S. firearms maker by revenue could create up to three new divisions for…
Updated Jan. 19, 2016 9:05 a.m. ET Johnson & Johnson on Tuesday said it would cut about 3,000 jobs in its medical-devices division as part of an effort to remove $1 billion in annual costs in the business that makes sterilization equipment and surgical tools. The eliminated positions represent 2.5% of J&Js global workforce and…
NEW DELHI: A group of 9 investors, including Tiger Global and SAIF Partners, have opposed National Stock Exchange’s business restructuring plan saying the move would delay the bourse’s listing and result in loss in shareholders’ value. These investors – who together hold nearly 20 per cent stake – have also asked the exchange to move…
Johnson & Johnson Inc. JNJ, -1.91% said Tuesday it is planning to cut about 4% to 6% of the global workforce in its medical devices business over the next two years, as…
UniCredit SpA named a new head at Bank Austria to oversee restructuring as the units chief executive officer Willibald Cernko leaves following losses at the domestic business. Robert Zadrazil, 45, Bank Austrias head of private banking, will succeed Cernko, 59, from March 1, the Vienna-based lender said in a statement on Monday. The move is…
UniCredit unit Bank Austria Chief Executive Willibald Cernko addresses a news conference in Vienna, Austria, August 6, 2015. REUTERS/Heinz-Peter Bader VIENNA (Reuters) – Italian lender UniCredit will replace the head of its Austrian business in March to drive forward the restructuring of the operation’s struggling retail business. Robert Zadrazil, 45, will replace 59-year-old CEO Willibald…