cut costs

DETROIT | GM offers buyouts to 18K salaried workers in North America

DETROIT — General Motors will attempt to cut costs by offering buyouts to about 18,000 white-collar workers in North America. The company made the offer Wednesday to salaried workers with 12 or more years of service. The move comes on the same day that GM reported a $2.5 billion third-quarter profit. The company says in … Continue reading DETROIT | GM offers buyouts to 18K salaried workers in North America

HELSINKI  | Nokia to cut costs as it waits for 5G network demand to grow

HELSINKI  — Telecom networks provider Nokia has reported lower third-quarter earnings and says it will start a new cost-cutting scheme as it waits for demand for the new 5G systems to pick up. The Finnish company said Thursday that its net profit for the July-September period stood at 309 million euros ($352 million), down from … Continue reading HELSINKI  | Nokia to cut costs as it waits for 5G network demand to grow

FRANKFURT, Germany | Deutsche Bank ‘on track’ for 1st full-year profit since 2014

FRANKFURT, Germany  — Deutsche Bank’s net profit fell 65 percent in the third quarter but CEO Christian Sewing said the bank made progress cutting costs and would show its first full-year profit since 2014. Profit decreased to 229 million euros ($262 million) from 649 million euros in the same quarter a year ago, as income … Continue reading FRANKFURT, Germany | Deutsche Bank ‘on track’ for 1st full-year profit since 2014

FRANKFURT, Germany  | Deutsche Bank net profit falls 65 pct., to 229 million euros

FRANKFURT, Germany  — Deutsche Bank saw net profit fall 65 percent in the third quarter to 229 million euros ($262 million)as revenue from trading stocks and bonds fell. But CEO Christian Sewing said the bank made progress cutting costs and would be profitable for the full year for the first time since 2014. Net income … Continue reading FRANKFURT, Germany  | Deutsche Bank net profit falls 65 pct., to 229 million euros