GE layoffs could hit 80,000
Article Abstract:
General Electric (GE) is expected to lay off as much as 80,000 people after the completion of a $45-billion acquisition of another company. The work force reduction would be part of a program aimed at streamlining operations of the two companeis and moving more of the business onto the Internet. GE will conduct the job cuts strategically over two to three years. Its digitization program could eliminate up to 50,000 jobs while the remaining cuts would come from overlapping operations and economic pressures.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Merger rivals seek best way to unite
Article Abstract:
Donaldson Lufkin and Jenrette Inc's (DLJ) $13.7-billion merger with rival Credit Suisse First Boston Ltd was announced by the two investment banking firms on Aug 30, 2000. The firms' two CEOs, Joe Roby of DLJ and Allen Wheat of Credit Suisse, were behind some of the biggest mergers in recent years. Now, they are expected to use their skills in bringing about a union of two fierce competitors with very diverse corporate cultures.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
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