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Big banks reassure staff about potential job cuts

Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back......»»

Category: topSource: reutersMar 26th, 2020

Wall Street in coronavirus contingency mode with staff, visitors, regulators

Big U.S. banks have been rolling out contingency plans to respond to the global coronavirus outbreak - requiring some staff to work from home, implementing travel restrictions, and talking to regulators about potential stresses......»»

Category: topSource: reutersFeb 28th, 2020

Big Bank Earnings: Why $18 Billion in Tax Savings May Not Be a Buy Signal

Tax cuts did little to prepare big banks for a potential recession – but they did make the banks look goodRelated Stocks: JPM, C, WFC, BAC, MS, GS,.....»»

Category: blogSource: gurufocusJan 17th, 2020

Crypto Custody Firm Trustology Cuts Staff as Banks Delay on Digital Assets

Digital asset custody firm Trustology has cut seven of its 18 staffers as the big banks it courted are taking longer than expected to jump into crypto......»»

Category: forexSource: coindeskDec 12th, 2019

Maryland biotech looks for lifeline following restructuring

Rexahn Pharmaceuticals Inc. is standing at a crossroads. The Rockville biotech announced Tuesday an intention to consider “strategic alternatives” as it cuts staff and searches for ways to extend resources.  Potential moves include a merger .....»»

Category: topSource: bizjournalsSep 25th, 2019

Rockville biotech looks for lifeline following restructuring

Rexahn Pharmaceuticals Inc. is standing at a crossroads. The Rockville biotech announced Tuesday an intention to consider “strategic alternatives” as it cuts staff and searches for ways to extend resources.  Potential moves include a merger .....»»

Category: topSource: bizjournalsSep 24th, 2019

Wells Fargo Announces 10% Staff Cuts As CEO Struggles To Impress Analysts

As hopes for a steeper yield curve have lifted bank stocks, Wells Fargo CEO Tim Sloan is apparently trying to bolster Wells' lagging share price as the numerous scandals that have tarnished the banks credi.....»»

Category: blogSource: zerohedgeSep 21st, 2018

C-suite staff at Valley luxury travel, events company take pay cuts; employees furloughed

Viad Corp, a publicly traded Phoenix luxury travel and events company, is instituting aggressive cost-reduction moves that feature employee furloughs and salary reduction, including among C-suite executives. Viad (NYSE: VVI) officials said in a Thur.....»»

Category: topSource: bizjournalsMar 26th, 2020

Morgan Stanley promises no job cuts in 2020 as coronavirus crisis grows

Morgan Stanley pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic......»»

Category: topSource: reutersMar 26th, 2020

HSBC delays job cuts in face of coronavirus

HSBC has said it is delaying the "vast majority" of its planned redundancies to deal with the fallout from the coronavirus pandemic, a memo sent to staff seen by Reuters said......»»

Category: topSource: reutersMar 26th, 2020

TripActions cuts hundreds of jobs as COVID-19 sinks corporate travel

TripActions Inc. on Tuesday made a deep cut in staff after the coronavirus pandemic sharply curtailed its corporate travel business. The Wall Street Journal cited an unnamed source who said the move involved hundreds and cut the Palo Alto company's wo.....»»

Category: topSource: bizjournalsMar 25th, 2020

Occidental Petroleum cuts CEO, staff pay to combat falling oil prices

Occidental Petroleum Corp will cut employee salaries by up to 30%, according to an internal memo reviewed by Reuters, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices......»»

Category: topSource: reutersMar 25th, 2020

Occidental Petroleum cuts CEO, staff pay to combat falling oil prices

Occidental Petroleum Corp will cut employee salaries by up to 30%.....»»

Category: topSource: foxnewsMar 25th, 2020

Fuddruckers parent Luby"s furloughs half of corporate office staff, cuts pay for other half by 50%

Luby's Inc. said Tuesday that it will furlough half of its corporate office general and administrative staff due to the coronavirus outbreak. All other salaried wo.....»»

Category: topSource: marketwatchMar 24th, 2020

Sunworks cuts staff, payroll to conserve money during COVID-19 outbreak

Roseville-based solar installer Sunworks Inc. has cut staff to reduce expenses as it works its way through the COVID-19 pandemic. Sunworks (Nasdaq: SUNW) said it's terminated or laid off 59 employees, a cut of a third of its headcount from the begin.....»»

Category: topSource: bizjournalsMar 23rd, 2020

U.S. banks hand out bonuses to staff as coronavirus crisis intensifies

Some U.S. banks on Monday offered employees one-time bonuses to help ease the financial burden of the coronavirus pandemic and as a reward for working through the crisis......»»

Category: topSource: reutersMar 23rd, 2020

Bank of America adds 1,700 support staff in March

Bank of America Corp said on Friday it has hired 1,700 people in the consumer bank so far this month as banks faced a surge in customer service demand amid coronavirus concerns......»»

Category: topSource: reutersMar 20th, 2020

Quantum Mind: Wall Street ramps up research into quantum finance

Big banks see potential in using quantum computing as a way to significantly speed up their financial calculations and minimize risks. Since 2017, JPMorgan has been working with IBM to experiment with the new technology......»»

Category: videoSource: reutersMar 19th, 2020

Banks aim to keep trading floors open in event of any London lockdown

London-based banks plan to keep trading floors open even in the event of a formal lockdown of the British capital, betting that their frontline staff will be treated by authorities as "key workers"......»»

Category: topSource: reutersMar 19th, 2020

WeWork execs are trying to reassure staff it still has access to billions of dollars in debt: Bloomberg

Riccard.....»»

Category: topSource: businessinsiderMar 19th, 2020

NM hospitals prep for potential influx of coronavirus patients

An increase of confirmed COVID-19 coronavirus cases in New Mexico over the past week have prompted some of the state's largest health systems to prepare for an influx of patients. Albuquerque's Lovelace Medical Center has plans to ask staff to v.....»»

Category: topSource: bizjournalsMar 16th, 2020