The company did not specify how many employees would be affected. BlackBerry, which reported a 16.8 percent fall in quarterly revenue in March, had about 6,225 full-time employees as of Feb. 2015, according to its website.
Japanese electronics giant Sharp on Thursday said it was cutting thousands of jobs in a fresh turnaround plan to keep it afloat as the struggling firm posted a bigger-than-expected $1.86 billion annual loss.
The net loss — much larger than the $251 million forecasted — came as Sharp said it would cut about 10 percent of its 49,000-strong global workforce, including 3,500 jobs in Japan.
The firm said it hoped to swing a $670 million operating profit in the current fiscal year, but it did not give a net profit forecast.
The number of homeless people in Los Angeles County jumped 12 percent in the past two years to more than 44,000 amid a sluggish economic recovery that has left the poorest residents of the second-largest U.S. metropolitan area falling farther behind, a study released on Monday found.
Most of those counted weren't staying in homeless shelters. The study also found that the number of tents, makeshift encampments and vehicles with people living in them jumped by 85 percent to around 9,500.
Bertrand Olotara has two college degrees, works two jobs and is on public assistance.
The 44-year-old divorced father of five gets up five days a week at 4.30am to commute nearly an hour each way to the US Capitol. There, he works at the deli station in the Senate cafeteria as an employee of a multinational conglomerate called Compass. He comes home weary but ready to cook dinner for his school-aged children and eager to check their homework, which he insists gets done right after school.
Deutsche Bank will pay U.S. and British authorities $2.5 billion and its London subsidiary will plead guilty to wire fraud for manipulation of benchmark interest rates, U.S. authorities said on Thursday.
As part of the deal, Germany's largest bank also entered into a deferred prosecution agreement with the U.S. Justice Department and admitted its role in manipulating the London Interbank Offered Rate (Libor).
On Wednesday morning, the fast-food labor campaign known as Fight for $15 will stage what organizers say will be its largest ever protest — spanning 40 countries, including actions in 200 U.S. cities. In addition to fast-food restaurant employees, workers from a number of other industries are expected to participate and, in many cases, walk off the job.
The other participants will include airport service and retail workers as well as adjunct professors. Activists from outside of labor circles have also said they will join in on the protests, including the racial justice group #BlackLivesMatter and the environmental advocacy campaign 350.org.
In the aftermath of the 2008 financial crisis, Keith Higgins was certain: Banks weren’t to blame.
Higgins, a top attorney at prominent law firm Ropes & Gray LLP, was chairman of an American Bar Association committee on securities regulation. As such, he lobbied strenuously against a rule U.S. regulators were drafting that would require banks to disclose a lot more about asset-backed securities like those that had just torpedoed the economy.
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