Cost Cutting | featured news

Toymaker Hasbro sees its results beat market expectations, despite seeing its losses widen as it continues cost-cutting efforts.

The U.S. Postal   Service will stop delivering mail on Saturdays but continue to deliver packages six days a week under a plan aimed at saving about $2 billion annually, the financially struggling agency says.

NBCUniversal is laying off about 450 people, or roughly 1.5 percent of its workforce of about 30,000, in a round of belt-tightening that began in September.

A host of challenges confront Mark Thompson as he officially takes over as chief executive of New York Times Co, from making the company less dependent on advertising to trimming costs to figuring out what to do with its pile of cash.

The institution is accelerating its cost-cutting strategy, planning to pare its operations so much that it will lose its spot as the nation’s largest bank employer, falling behind the likes of JP Morgan Chase, Wells Fargo and Citigroup.

Goldman Sachs Group Inc reported higher-than-expected quarterly earnings thanks to aggressive cost-cutting and strong investment banking and trading revenues, and the Wall Street bank raised its dividend.

Facing bankruptcy, the U.S. Postal Service is pushing ahead with unprecedented cuts to first-class mail next spring that will slow delivery and, for the first time in 40 years, eliminate the chance for stamped letters to arrive the next day.

Bank of America Corp employees are flooding rival companies with resumes as a major cost-cutting program gets under way at the second-largest U.S. bank.

Goldman Sachs Group Inc may cut $1.45 billion in expenses by year's end, $250 million more than it indicated in July, in a move that could lead to more job cuts, according to The New York Times.

The Postal Service says it may close more than 250 mail processing facilities across the country in an effort to cut costs.