Sainsbury’s to cut 3,000 jobs as rising costs hit business

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  Sainsbury's to cut 3,000 jobs and shut cafés and pizza counters

  The changes are part of a cost-cutting plan, but recent tax rises for businesses have also been a factor.
  
  BBC News - 50m
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  Starbucks Expecting Job Cuts by March

  Starbucks said it expects to eliminate jobs, without affecting in-store teams, as part of its broader effort to operate more efficiently.
  
  The Wall Street Journal - 5d
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  Citigroup Slashes Jobs as Cost-Cutting Continues

  Targets include senior managers in the banking giant’s wealth, technology and data analysis units.
  
  Inc. - 5d

• Spirit Airlines cuts 200 jobs in bankruptcy cost-cutting scramble

  Spirit Airlines cuts 200 jobs across the airline as it seeks to exit bankruptcy protection this quarter.
  
  CNBC - Jan. 16
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  BP axes 4,700 jobs in cost-cutting drive

  UK energy major under pressure from shareholders to turn around its performance
  
  Financial Times - Jan. 16
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  BP to cut 4,700 jobs and 3,000 contractor roles to help save £1.6bn

  Oil company to lose 5% of its staff in effort to cut costs amid shareholder worries over green energy strategy. BP is to cut thousands of jobs from its global workforce, amounting to 5% of its ...
  
  The Guardian - Jan. 16
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  BP to cut 4,700 jobs to reduce costs

  The job losses at the oil giant will affect more than 5% of its global workforce.
  
  BBC News - Jan. 16

• Oil major BP to cut thousands of jobs in cost-saving drive

  British oil major BP on Thursday said it is planning to cut thousands of jobs as part of a major cost-cutting drive.
  
  CNBC - Jan. 16
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  Lloyds to cut 500 jobs and close two offices

  UK bank to review more than 1,500 jobs across multiple departments
  
  Financial Times - Jan. 15

More from Financial Times

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  UK competition regulator to cut staff after ‘budgeting error’

  Voluntary exit scheme comes as CMA reels from government’s ousting of its chair
  
  Financial Times - 2h
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  Apple and Google investigated by UK regulator over mobile platforms

  CMA probe comes days after its chair was forced out by government in drive for economic growth
  
  Financial Times - 7h
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  Donald Trump calls on Opec to push down global oil prices

  US president tells World Economic Forum he will insist central banks lower interest rates ‘immediately’ afterwards
  
  Financial Times - 51m
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  Murdoch’s money protects him even from princes

  The media tycoon is happy to spend to contain a scandal — including in his legal battle with a British royal
  
  Financial Times - 5h
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  Purdue and Sackler family agree $7.4bn opioid settlement with US states

  Deal comes after months of mediation between the family that controlled the company and its creditors
  
  Financial Times - 41m

More in Business

• Trump says he will approve power plants for AI through emergency declaration

  Trump said the plants can use whatever fuel they want, including coal as a backup.
  
  CNBC - 10m

• OpenAI introduces Operator to automate tasks like vacation planning, restaurant reservations

  OpenAI on Thursday unveiled Operator, which it calls "an agent that can go to the web to perform tasks for you."
  
  CNBC - 10m

• Store closures hit highest level since pandemic — see who is shutting down the most locations

  The trend reflects the divide between retailers gaining market share, such as Walmart, and those that have lost ground or filed for bankruptcy, like Big Lots.
  
  CNBC - 17m

• Bond investors are trimming ‘Magnificent Seven’ holdings — with one exception

  Corporate bond investors have been trimming their holdings of bonds issued by the “Magnificent Seven,” with one exception, since the November presidential election — a trend that has continued into ...
  
  MarketWatch - 20m

• President Donald Trump says he'll 'demand that interest rates drop immediately'

  The comments represented an initial strike at Fed officials, with whom Trump had a highly contentious relationship during his first term in office.
  
  CNBC - 20m