Cost Cutting | featured news

Bank of America is to cut 30,000 jobs, or 10% of its workforce, over the next few years as part of a cost-cutting programme, the company says.

Banking group HSBC Holdings Plc may cut more than 10,000 jobs as part of its plan to slash costs by up to $3.5 billion a year, Sky News reported Thursday.

BlackBerry maker Research In Motion Ltd. is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives....

Cisco Systems plans to cut 15 percent of its staff and sell a set-top box factory as part of a plan to cut annual expenses by $1 billion as the network equipment maker tries to revive its fortunes.

Riot police fired tear gas at youths hurling rocks and petrol bombs near the Greek finance ministry Tuesday, trying to quell the anger unleashed during mass protests and a general strike as parliament debated new cost-cutting measures.

The 12 percent reduction in the leading cellphone maker’s global work force will help trim operating costs by 1 billion euros as it prepares for its alliance with Microsoft.

The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs—increasingly at the expense of jobs.

The governor wants to halve the 96,000 state-paid phones to save a projected $20 million. He says state-paid phones should be available only to department executives and those who must be reachable around the clock.

When the Tata Nano - known as the world's cheapest car - zipped out of factories in 2009, it was praised as an example of Indian innovation in cost-cutting. It quickly became a cult hit, with its own Facebook travelogue journal and fast-selling counterculture T-shirts.

Internet media company Yahoo is preparing to cut as many as 650 jobs, or almost 5% of its workforce, in its latest move to streamline operations and cut costs.