(Reuters) -U.S. drugmaker Pfizer launched a new multi-year program to reduce its expenses by about $1.5 billion by the end of 2027, adding on to a $4 billion cost cutting plan it announced last year. The cost cuts are the latest move by the company to respond to slumping demand for its COVID-19 products after […]
Marks & Spencer has revealed a better-than-expected surge in annual profits as its turnaround pays off, but ramped up cost-cutting in the face of a soaring wage bill. The retail bellwether reported a 58 per cent hike in underlying pre-tax profits to £716.4 million (€840.6 million) for the year to March 30th. It notched up […]
Goodyear Tire & Rubber Co. will cease operations at its Malaysia plant June 30, the company confirmed to the Beacon Journal on Friday. The closure of the plant in the Shah Alam district of Malaysia’s Selangor’s state, first reported by Reuters late Thursday will put about 550 employees out of work, the news agency said, […]
Engine-maker Rolls-Royce has said cost-cutting plans that will see it axe up to 2,500 jobs by the end of next year were “well under way” as it swung to a £2.4 billion (€2.8 billion) annual profit. The aerospace engineering specialist reported the statutory pre-tax profits for 2023 against losses of £1.5 billion (€1.75 billion) in […]
(Reuters) – Canada’s BlackBerry said on Monday it was targeting an additional increase of $100 million in its annual profit as the cybersecurity firm slashes costs, including reducing workforce. The company’s new target is in addition to a $50 million annualized cost reduction plan announced and 200 job cuts in the prior quarter. The company, […]