Cuts

Gold steadies as investors brace for US election and potential rate cuts
Gold steadies as investors brace for US election and potential rate cuts
November 4, 2024
GOLD prices held steady on Monday (Nov 4), as investors prepared for a crucial week for the global economy, marked by the US presidential election and the likelihood of...
SPH Media cuts 10% of tech employees in restructuring move in bid to stay sustainable
SPH Media cuts 10% of tech employees in restructuring move in bid to stay sustainable
November 4, 2024
THIRTY-FOUR or 10 per cent of SPH Media’s employees in its tech division across teams and ranks will be cut as the group aims to remain competitive and sustainable amid the...
Chevron flags possible job cuts in US billion cost plan
Chevron flags possible job cuts in US$3 billion cost plan
November 1, 2024
CHEVRON indicated potential US job cuts as part of a new cost-cutting plan.The US$3 billion in targeted “structural” cost savings will come from asset sales, the use of new...
Manulife cuts 2.5% of staff in wealth and asset management unit
Manulife cuts 2.5% of staff in wealth and asset management unit
October 30, 2024
Manulife Financial has cut hundreds of jobs in its global wealth and asset management business, representing about 2.5 per cent of the division’s staff. The move was made “in an...
DHL cuts earnings outlook on weak B2B volumes
DHL cuts earnings outlook on weak B2B volumes
October 30, 2024
DHL cut its guidance for 2024 earnings before interest and taxes (Ebit) on Wednesday (Oct 30), citing continuously weak business-to-business mail volumes and lower-than-expected margins in its air freight...
Microsoft’s GitHub unit cuts AI deals with Google, Anthropic
Microsoft’s GitHub unit cuts AI deals with Google, Anthropic
October 29, 2024
MICROSOFT’s GitHub has agreed to bake artificial intelligence (AI) models from Anthropic and Alphabet’s Google into a coding assistant used by millions of software developers. At first, customers will...
Philips cuts annual sales outlook on weak demand from China
Philips cuts annual sales outlook on weak demand from China
October 28, 2024
Royal Philips slashed its sales-growth forecast for the year as tepid demand from China weighs on the Dutch medical technology firm’s orders.Philips expects comparable sales to grow as much...
Porsche flags cost cuts as China weakness, slowing electric-vehicle shift hits profits
Porsche flags cost cuts as China weakness, slowing electric-vehicle shift hits profits
October 26, 2024
Luxury sportscar maker Porsche on Friday (Oct 25) warned it may cut costs after a slower-than-expected transition towards electric vehicles and persisting weakness in the Chinese market caused nine-month...
Hasbro profit beats estimates as cost cuts offset weak toy demand
Hasbro profit beats estimates as cost cuts offset weak toy demand
October 24, 2024
HASBRO’S cost-saving efforts helped the Monopoly owner surpass Wall Street estimates for profit in the third quarter, despite weak consumer spending on toys driving a steeper-than-expected drop in sales. Toymakers...
Apple sharply cuts back on Vision Pro production: report
Apple sharply cuts back on Vision Pro production: report
October 24, 2024
APPLE has sharply scaled back its Vision Pro production since early summer and could stop making the existing version of the mixed reality headset by year-end, The Information reported...