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HSBC to freeze salaries, hiring in 2016 to cut costsEurope's largest lender, HSBC, is imposing a hiring and pay freeze across the bank globally in 2016, two sources familiar with the matter told Reuters. An email was sent to staff on Friday detailing the latest cost-saving meas More… |
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Gulf Air restructuring drive saves $67mGulf Air, the national airline of Bahrain, reported BD25.5 million ($67.62 million) in cost savings last year, following the adoption of several restructuring initiatives, said its chief executive. 'I am glad to report that our several More… |
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Citadel narrows Q3 losses on cost cuttingEgyptian private equity firm Citadel Capital said on Sunday it narrowed third quarter losses by 30 per cent in 2011 despite a challenging local and regional environment. The company said it made a standalone net loss of 20.7 million Egypt More… |
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Panasonic to hack 40,000 jobs to cut costsJapanese consumer electronics giant Panasonic Corp will slash 40,000 jobs over the next two years in a bid to pare costs and keep up with ever-harsher competition from Asian rivals, a source said on Thursday. The company, which employs abo More… |
