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Tag Archives: cuts

Levi Strauss cuts 700 company jobs

Levi Strauss, shaken by corona virus shutdowns in its retail stores, has decided to cut 700 corporate jobs, the legendary jeans and jeans maker said on Tuesday. “The results of the second quarter underline the difficult external environment in which we have been operating in recent months,” said Chip Bergh, President and CEO of Levi Strauss, in an email that …

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2 Fort Lauderdale companies that found compliance last weekend made no cuts this time

FORT LAUDERDALE, Fla. – Last Friday, two institutions on Las Olas Boulevard passed the code, but this week they failed to make the cut. A total of 5 institutions were fined and closed this Friday after they were found to be non-compliant by the Fort Lauderdale Community Enhancement and Compliance Division. The compliance department continues its “unscheduled compliance checks” throughout …

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3 cuts in social security benefits that are on the table

There are numerous warnings of impending cuts in social security benefits if the program’s finances are not fixed in the coming years. While an automatic cut in benefits could be required in 2035 if the program’s trust fund runs out, legislative action to address this issue does not necessarily mean that pensioners will get everything they were promised. In fact, …

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Qantas cuts off all international flights, Delta moves on SFO, JetBlue, Hawaiian, more

1from7 Qantas has canceled almost all international flights until October and will withdraw the last two of its once extensive 747 fleet this month. Qantas 2ndfrom7 JetBlue will begin service from San Francisco to Newark next month with A321 with its premium mint cabins. JetBlue 3rdfrom7 Delta plans to revive other international routes in July. delta 4thfrom7 TSA screenings are …

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Gulf Keystone Petroleum cuts 40% of jobs

Gulf Keystone Petroleum, which operates in the semi-autonomous region of Kurdistan in Iraq, is reducing its workforce by around 40 percent given the unprecedented oil market and macroeconomic conditions, the London-based independent oil company said on Friday. Gulf Keystone Petroleum operates the Shaikan field northwest of Erbil under a production participation agreement with the Kurdistan Regional Government (KRG) and holds …

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Russian sovereign wealth fund opposes further cuts to OPEC +

The month-long extension of the deepest cuts in OPEC + oil production will be enough to accelerate market equilibrium, and there is no need to widen the deep cuts, Russia’s sovereign fund chief Kiril Dmitriev said in an interview for the RBC business news agency. As the economies exit from the locks triggered by corona viruses, oil demand begins to …

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North Korea says it cuts off the communication channels with South Korea

Seoul, South Korea – North Korea said it cut off all communication channels with South Korea on Tuesday as it increased its pressure on the South not to prevent activists from floating flyers against Pyongyang across its tense border. In response, the South Korean liberal government, which is committed to closer relations with North Korea, reiterated that it would work …

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BP cuts 10,000 jobs as oil stocks rise

British oil and gas giant BP (NYSE: BP) is to reduce its global workforce by around 10,000 employees. In an email to employees, CEO Bernard Looney announced the job cuts, which will affect approximately 15% of the company’s workforce. This is a reversal of the company’s moratorium on job cuts as the COVID-19 crisis hit the industry hard. The announcement …

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Opec and allies extend oil production cuts to Opec late July

Opec, Russia and its allies have agreed to extend the record cuts in oil production until the end of July, thereby extending a contract that has helped crude oil prices to double in the past two months by nearly 10% of global supplies from Market were taken. The group, known as Opec +, also called on countries like Nigeria and …

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