Big banks reassure staff about potential job cuts

Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back......»»

Category: topSource: reutersMar 26th, 2020

Wall Street in coronavirus contingency mode with staff, visitors, regulators

Big U.S. banks have been rolling out contingency plans to respond to the global coronavirus outbreak - requiring some staff to work from home, implementing travel restrictions, and talking to regulators about potential stresses......»»

Category: topSource: reutersFeb 28th, 2020

Big Bank Earnings: Why $18 Billion in Tax Savings May Not Be a Buy Signal

Tax cuts did little to prepare big banks for a potential recession – but they did make the banks look goodRelated Stocks: JPM, C, WFC, BAC, MS, GS,.....»»

Category: blogSource: gurufocusJan 17th, 2020

Crypto Custody Firm Trustology Cuts Staff as Banks Delay on Digital Assets

Digital asset custody firm Trustology has cut seven of its 18 staffers as the big banks it courted are taking longer than expected to jump into crypto......»»

Category: forexSource: coindeskDec 12th, 2019

Maryland biotech looks for lifeline following restructuring

Rexahn Pharmaceuticals Inc. is standing at a crossroads. The Rockville biotech announced Tuesday an intention to consider “strategic alternatives” as it cuts staff and searches for ways to extend resources.  Potential moves include a merger .....»»

Category: topSource: bizjournalsSep 25th, 2019

Rockville biotech looks for lifeline following restructuring

Rexahn Pharmaceuticals Inc. is standing at a crossroads. The Rockville biotech announced Tuesday an intention to consider “strategic alternatives” as it cuts staff and searches for ways to extend resources.  Potential moves include a merger .....»»

Category: topSource: bizjournalsSep 24th, 2019

Wells Fargo Announces 10% Staff Cuts As CEO Struggles To Impress Analysts

As hopes for a steeper yield curve have lifted bank stocks, Wells Fargo CEO Tim Sloan is apparently trying to bolster Wells' lagging share price as the numerous scandals that have tarnished the banks credi.....»»

Category: blogSource: zerohedgeSep 21st, 2018

Futures Movers: Oil prices climb as U.S. output declines ahead of potential OPEC+ production cuts

Oil prices head higher Wednesday, buoyed by a weekly decline in U.S. crude production, as investors grow hopeful that major oil producers will agree to output cuts this week......»»

Category: topSource: marketwatch25 min. ago

Experience Columbus lays off staff, cuts programs as Covid-19 ravages tourism industry

Columbus' tourism organization, Experience Columbus, has had to lay off staff and cut programs as tourism revenue falls due to the coronavirus pandemic. The organization is expecting revenues will drop by $6.4 million in 2020, or about 40% of its $1.....»»

Category: topSource: bizjournals1 hr. 9 min. ago

Philly health tech company sees increased demand, plans to grow staff by 60% this year

HealthVerity has big plans to grow its staff in 2020, despite COVID-19’s devastating impact on local business.  The Philadelphia-based health tech company plans to increase its staff by 60% this year, as inquiries from potential clients for HealthV.....»»

Category: topSource: bizjournalsApr 7th, 2020

Exclusive: Amazon in contact with coronavirus test makers for potential screenings on employees Inc has been in contact with the CEOs of two coronavirus test makers as it considers how to screen its staff and reduce the risk of infection at its warehouses, according to internal meeting notes seen by Reuters......»»

Category: topSource: reutersApr 4th, 2020

Central Ohio health system furloughing non-clinical employees, reducing pay for execs, doctors

A Central Ohio health system is furloughing non-clinical staff and implementing pay cuts for executives and physicians because of drastic revenue decreases and increased expenses during the coronavirus pandemic......»»

Category: topSource: bizjournalsApr 2nd, 2020

Boeing to offer buyouts, mull output cuts amid new reality

Boeing Co. is offering buyouts to its entire staff of 161,000 people and weighing new output reductions as the coronavirus pandemic threatens to depress aircraft sales for years......»»

Category: topSource: moneycentralApr 2nd, 2020

Air Canada cuts Q2 capacity by 85%-90%, puts 15,200 unionized staff on Off Duty

See the rest of the story here. provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallMar 30th, 2020

Standard Chartered freezes hiring, warns of bonus cuts: memo

Standard Chartered has told staff it is freezing all external and internal hiring for two months and signaled it is likely to cut bonuses for 2020, as the Asia and Africa-focused lender grapples with the fallout from the coronavirus pandemic......»»

Category: topSource: reutersMar 30th, 2020

The Container Store furloughs some corporate staff, cuts store hours, draws down $50 million from credit facility

The Container Store Group Inc. said Monday that it has furloughed some corporate staff, starting March 30, with those staff members receiving benefits until April 30. The retailer has also temporarily closed 40 stores, with staff .....»»

Category: topSource: marketwatchMar 30th, 2020

C-suite staff at Valley luxury travel, events company take pay cuts; employees furloughed

Viad Corp, a publicly traded Phoenix luxury travel and events company, is instituting aggressive cost-reduction moves that feature employee furloughs and salary reduction, including among C-suite executives. Viad (NYSE: VVI) officials said in a Thur.....»»

Category: topSource: bizjournalsMar 26th, 2020

Morgan Stanley promises no job cuts in 2020 as coronavirus crisis grows

Morgan Stanley pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic......»»

Category: topSource: reutersMar 26th, 2020

HSBC delays job cuts in face of coronavirus

HSBC has said it is delaying the "vast majority" of its planned redundancies to deal with the fallout from the coronavirus pandemic, a memo sent to staff seen by Reuters said......»»

Category: topSource: reutersMar 26th, 2020

TripActions cuts hundreds of jobs as COVID-19 sinks corporate travel

TripActions Inc. on Tuesday made a deep cut in staff after the coronavirus pandemic sharply curtailed its corporate travel business. The Wall Street Journal cited an unnamed source who said the move involved hundreds and cut the Palo Alto company's wo.....»»

Category: topSource: bizjournalsMar 25th, 2020

Occidental Petroleum cuts CEO, staff pay to combat falling oil prices

Occidental Petroleum Corp will cut employee salaries by up to 30%, according to an internal memo reviewed by Reuters, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices......»»

Category: topSource: reutersMar 25th, 2020