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Job cuts

Wells Fargo cuts more jobs as part of earlier cost-cutting drive

Wells Fargo cuts more jobs as part of earlier cost-cutting drive

Source: Reuters
Date of Publication: October 7th, 2020
Wells Fargo & Co WFC.N has started to cut jobs at its commercial banking unit as part of larger reductions that will impact nearly all of its functions and business lines, a company spokeswoman said on Wednesday.
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Cineworld brings down curtain on U.S., UK theaters; 45,000 jobs hit

Cineworld brings down curtain on U.S., UK theaters; 45,000 jobs hit

By: Muvija M, Yadarisa Shabong
Source: Reuters
Date of Publication: October 5th, 2020
Cineworld CINE.L, the world's second-biggest cinema chain, will close its UK and U.S. movie theaters this week, leaving as many as 45,000 workers unemployed for the foreseeable future as it fights to survive a coronavirus collapse in film-making and cinema-going.
Pandemic Pain Persists for Big Oil Companies - WSJ

Pandemic Pain Persists for Big Oil Companies

By: Christopher M. Matthews and Sarah McFarlane
Source: The Wall Street Journal
Date of Publication: October 1st, 2020
A tepid rebound in fossil fuel demand and longer-term concerns about renewable energy and electric vehicles are driving down company values.
Disney to lay off about 28,000 parks unit employees due to coronavirus hit

Disney to lay off about 28,000 parks unit employees due to coronavirus hit

By: Lisa Richwine
Source: Reuters
Date of Publication: September 29th, 2020
Walt Disney Co said on Tuesday it will lay off roughly 28,000 employees, mostly at its U.S. theme parks, where attendance has been crushed by the coronavirus pandemic, especially in California where Disneyland remains closed.
Goldman Sachs to go ahead with 'modest' job cuts after coronavirus pause

Goldman Sachs to go ahead with 'modest' job cuts after coronavirus pause

Source: Reuters
Date of Publication: September 30th, 2020
Goldman Sachs Group Inc GS.N plans to move forward with "a modest number of layoffs", a company spokesperson said on Wednesday, months after the Wall Street bank paused job cuts due to the COVID-19 pandemic.
U.S. oil refiner Marathon Petroleum cuts 12% of staff because of pandemic

U.S. oil refiner Marathon Petroleum cuts 12% of staff because of pandemic

By: Erwin Seba
Source: Reuters
Date of Publication: September 30th, 2020
Marathon Petroleum Corp MPC.N, the top U.S. oil refiner, is cutting 12% of its workforce amid continued declines in fuel consumption due to the COVID-19 pandemic, it said on Wednesday.
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Top U.S. airlines starting 32,000 furloughs as bailout hopes fade

Top U.S. airlines starting 32,000 furloughs as bailout hopes fade

By: Tracy Rucinski, David Shepardson
Source: Reuters
Date of Publication: September 30th, 2020
American Airlines and United Airlines, two of the largest U.S. carriers, said they were beginning furloughs of over 32,000 workers on Thursday as hopes faded for a last-minute bailout from Washington.
United, pilots agree on schedule reductions to avoid nearly 3,000 furloughs

United, pilots agree on schedule reductions to avoid nearly 3,000 furloughs

By: Leslie Josephs
Source: CNBC
Date of Publication: September 28th, 2020
United Airlines’ pilots agreed to reduce their hours to avoid furloughs of close to 3,000 pilots.
Coronavirus_ Airline CEOs meet with White House in plea for more federal aid

Airline CEOs meet with White House in last-minute plea for more coronavirus aid

By: Leslie Josephs
Source: CNBC
Date of Publication: September 17th, 2020
Airline CEOs and unions are seeking another $25 billion in federal aid to preserve jobs through March.
Raytheon cutting 15,000 jobs at Pratt & Whitney, Collins Aerospace and corporate offices in response to slump in aviation

Raytheon cutting 15,000 jobs at Pratt & Whitney, Collins Aerospace and corporate offices in response to slump in aviation

By: Stephen Singer
Source: Hartford Courant
Date of Publication: September 16th, 2020
The chief executive officer of Raytheon Technologies Corp. said Wednesday the aerospace and defense giant will cut 15,000 commercial aerospace jobs this year at Pratt & Whitney, Collins Aerospace and in corporate offices in response to the steep drop in aviation caused by COVID-19.