News Tag: cost-cutting
March 11, 2010
Talks aimed at averting industrial action at British Airways (BA) have collapsed and failed to reach an agreement.
Brendan Barber, general secretary of the Trades Union Congress, said: "Despite a prolonged period of negotiations it has not been possible to reach agreement between BA and Unite."
Last month, BA‘s 12,000 cabin crew members voted to take industrial action over cost-cutting ...
Possible strike action at BA as talks fail
by Kay Murchie
March 10, 2010
British Airways (BA) is to resume talks with the Unite union about averting industrial action.
BA‘s 12,000 cabin crew members have vowed to take industrial action over cost-cutting measures, which include a pay freeze and a switch to part-time working for thousands of staff.
Cabin crew members were scheduled to take 12 days of strike action over the Christmas ...
BA in talks with union to avert strikes
by Kay Murchie
February 22, 2010
British Airways (BA) passengers will face travel chaos after the airline’s 12,000 cabin crew members voted in favour to take industrial action over cost-cutting measures, which include a pay freeze, a switch to part-time working for thousands of staff and working conditions.
The results of the strike emerged this evening after Len McCluskey, assistant general secretary of ...
BA cabin crew vote in favour of strike action
by Kay Murchie
BA strike ballot result due today
by Kay Murchie
February 19, 2010
The Unite union has been unsuccessful in its High Court action against British Airways (BA) to stop the airline from imposing cost-cutting measures.
The union claimed it was not properly consulted on the measures, which include a pay freeze and a switch to part-time working for 3,000 staff.
BA cabin crew had been set to take industrial ...
Unite fails in High Court bid over BA proposed cuts
by Kay Murchie
February 5, 2010
British Airways (BA) has today reported a £50 million loss in the three months to December 31 2009, compared with the £122 million it lost in the same period a year earlier.
However, the loss was much less than analysts’ predictions for a £151 million loss.
Meanwhile, the airline posted a surprise £25 million operating profit in the three-month period, against a ...
BA posts £50m loss in Q3
by Kay Murchie
February 2, 2010
The Unite union is in the High Court this week to resolve whether there should be a permanent injunction preventing British Airways (BA) from imposing cost-cutting measures.
Unite previously applied for a High Court injunction to block BA’s plans, but it was unsuccessful .
The airline wants 75% of its crew to accept a pay freeze this year and for 3,000 staff ...
Unite in legal battle with BA
by Kay Murchie
BP posts 45% fall in annual profit
by Kay Murchie
January 31, 2010
As part of a major restructure, Britain’s largest drugs company GlaxoSmithKline (GSK) is to slash 4,000 positions, according to The Sunday Times.
According to press reports, the job losses are part of plans to shift its focus to emerging markets, such as China which has greater potential to increase sales growth.
The company has a global workforce of 99,000 and ...
GSK to axe 4,000 jobs as it shifts focus
by Kay Murchie
January 28, 2010
US carmaker Ford has today reported its first annual profit since 2005 after a turbulent 12 months for the American car industry.
The company reported an annual net profit for 2009 of $2.27 billion (£1.4 billion) compared with a loss of $15 billion in 2008.
Meanwhile, for the fourth quarter of 2009, profit was $868 million - a significant improvement on the loss ...
Ford returns to profitability amid cost-cutting
by Kay Murchie
Cost-cutting programme sees further 8,000 jobs go at AstraZeneca
by Kay Murchie
January 27, 2010
Online search giant Yahoo has posted strong quarter four profits but said sales continue to decline.
The company said net profit in the October to December period was $153 million (£95 million) compared with a $303 million loss in the same period in 2008.
However, revenue was down 4% to $1.7 billion in the quarter compared with the previous quarter.
The economic ...
Pick up in advertising spend boosts Yahoo profits
by Kay Murchie
January 21, 2010
US coffee chain Starbucks has exceeded market expectations by reporting a threefold rise in quarterly profits.
The chain posted a net profit of $241.5 million (£148 million) in the final quarter of 2009, compared with $64.3 million in the same period a year ago.
Meanwhile, same store US sales grew 4%, their first rise in over two years.
In the UK, like-for-like sales increased by ...
Starbucks results exceed expectations
by Kay Murchie
November 19, 2009
Internet provider AOL is to axe around one third of its workforce as it spins off from media giant Time Warner next month.
The job losses represent around 2,300 jobs from its 6,900-strong workforce and AOL said it would impose the cuts on a voluntary and involuntary basis.
The cuts are part of a programme to save $300 million in ...
AOL to reduce headcount by one third
by Kay Murchie
November 18, 2009
Wolseley, which is the world’s largest supplier of plumbing and heating equipment, today reported a 45% fall in underlying profits in the three months to the end of October.
The company has been badly hit by the housing market downturn and warned that its struggles continue after revenue slumped 13% to £3.4 billion in the three month period.
The plumbers’ merchant ...
Wolseley continues to struggle as profits slump
by Kay Murchie
November 16, 2009
British Airways (BA) cabin crew are set to cast their vote on whether strike action will take place.
The Unite trade union is predicting that 14,000 air stewards and stewardesses will vote in favour of strike action over the Christmas period in a dispute over cost-cutting measures.
The measures include a two-year pay freeze for cabin crew, reduced holidays ...
BA cabin crew set to cast vote on strike action
by Kay Murchie
November 12, 2009
Profits at telecommunications giant British Telecom (BT) plummeted in the six months to 30 September by 45%, as a result of its major restructure, which resulted in the loss of 15,000 jobs.
The company, which increased its cost-cutting target for the year from £1 billion to £1.5 billion, made a pre-tax profit of £547 million during the period, compared with the £991 ...
Cost-cutting impacts on BT half-year profits
by Kay Murchie
November 11, 2009
In an attempt to cut costs, US software company Adobe Systems is to axe 680 jobs worldwide - the equivalent of 9% of its workforce.
The software company, which is known for Photoshop, Flash and Acrobat, said the restructure is necessary in order to reduce costs.
As a direct result of the cuts, Adobe said it would be hit with pre-tax ...
Adobe Systems to axe almost 700 jobs
by Kay Murchie
November 10, 2009
As part of its ongoing global cost-cutting programme, Swedish telecoms equipment maker Ericsson is to eliminate 700 jobs from its research and development operation in Coventry.
The cuts will be made by the middle of next year and the company said after that time, the facility would no longer be viable.
Ericsson has been in Coventry for four years since it acquired ...
Ericsson to cut 17% of UK workforce
by Kay Murchie
Vodafone hints at further job cuts amid cost-cutting programme
by Kay Murchie
