Finland's Nokia cut its annual outlook on Friday and Swedish rival Ericsson delivered second-quarter results slightly above expectations, as a slowdown in consumer spending hit sales of telecom gear.
Cryptocurrency exchange Binance has cut jobs just days after it was hit by a wave of executive exits, a source familiar with the matter told Reuters on Friday.
Quitting doesn’t pay like it used to. The raises Americans earn from switching jobs is shrinking, narrowing their advantage in wage gains versus job-keepers. That stands to reduce inflation, as companies benefit from lower costs when snagging new employees. While it’s happened without mass layoffs, weaker pay gains signal that the labor market’s balance of power is shifting back to businesses.
UBS Group is looking to cut more than half of Credit Suisse's workforce from next month as a result of the bank's takeover, Bloomberg News reported on Tuesday.
Deutsche Bank is drawing up plans to cut 10% of its 17,000 German retail jobs over the next few years as part of cost savings, a person with knowledge of the matter said on Thursday.