Daimler cuts costs and sets course for the future

Widespread layoffs are underway at Wells Fargo & Co., as the bank seeks to slash costs and build efficiency......»»

Renault is preparing to substantially reduce its vehicle range, withdrawing well-known but ailing models like the Espace minivans, as part of looming cost cutting plans, four sources in the industry and close to the French carmaker said......»»

The company reduced base salaries for a "for a substantial number of its global employees, including each of its executive officers.".....»»

The EU has set out its proposals for future air travel. Passengers will need masks, but Brussels says there's no need to ban the use of middle seats. Julian Satterthwaite reports......»»

Nissan Motor Co plans to cut $2.8 billion in annual fixed costs as part of its restructuring plan, Bloomberg News reported on Wednesday, as it braces for a drop in sales that could complicate its recovery from years of poor profitability......»»

Chicago-based Gogo said it had a loss of $1.04. Losses, adjusted for asset impairment costs, came to 43 cents per share. Last month Gogo said it would furlough more than 600 employees — roughly 60% of its workforce — as the pandemic cuts flight deman.....»»

Siemens stock surged on Friday after the German engineering company said it was speeding up cost savings to tackle the coronavirus downturn and the flotation of its energy business remained on track......»»

Uber announced Wednesday that it plans to take more actions to cut costs in regards to the COVID-19 pandemic, including layoffs and executive pay cuts......»»

Uber is cutting 3,700 full-time workers and its CEO will give up his base salary with the nation largely still in lockdown. The San Francisco company said Wednesday that the layoffs and related costs like severance will reach about .....»»

South African Airways South African Airways will no longer.....»»

Ryanair aims to conclude talks with Boeing on a new plane order in the next two weeks, but possible price cuts or cancellations related to an existing 737 MAX order are also part of the discussions, its chief executive said on Friday......»»

Amazon’s sales surged amid the coronavirus, but costs related to the pandemic ate away at the online retailer’s profits, the company told investors Thursday......»»

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

IAG's move to axe up to 12,000 jobs at its main British Airways business reflects boss Willie Walsh's preference to slash costs rather than seek a state bailout to survive what is expected to be the worst downturn in aviation history......»»

(Bloomberg) -- Airbus SE chief Guillaume Faury warned employees that the planemaker is “bleeding cash” and needs to quickly cut costs to adapt to a radically shrinking aerospace industry. With .....»»

(Bloomberg) -- Airbus SE chief Guillaume Faury warned employees that the planemaker is “bleeding cash” and needs to quickly cut costs to adapt to a radically shrinking aerospace industry. With .....»»

As Ameri.....»»

AT&T (NYSE:T) has announced that CEO Randall Stephenson is stepping down. The move comes as the mobile carrier continues to cut jobs and cut costs... The post AT&T CEO Randall Stephenson steps down amid job cuts & controversy appeared first on .....»»

Inquiries come as Trump’s company also discusses its debts with Deutsche Bank, deeply cuts costs.....»»

China cut its benchmark lending rate as expected on Monday to reduce borrowing costs for companies and prop up the coronavirus-hit economy. Ciara Lee reports.....»»