Ericsson to slash 2,200 jobs as part of cost-cutting

Swedish telecoms group Ericsson plans to cut some 2,200 jobs as part of a major cost-cutting and restructuring exercise, the company said Wednesday.

Amid US oil price crash, cost cutting ripples through industry

Any lingering doubt about the depth of the crisis facing the U.S. energy industry is quickly evaporating as even the biggest firms slash spending amid the steepest oil price crash since the recession, sending ripples across the vast sector.

BBC News to cut 400 jobs in austerity drive

BBC News currently employs around 8,400 people, including around 5,000 journalists, the corporation said.

Bush House falls silent after last BBC broadcast

As part of the BBC`s relocation plans to cut costs, the World Service has moved from Bush House to Broadcasting House.

AI`s cost cutting steps should match govt assistance: GoM

A Group of Ministers on Wednesday night made
it clear to ailing Air India that any assistance by the
government should be matched by the airline through cost-
cutting and revenue enhancement measures.

US firms to continue with cost cutting steps in 2010: Survey

With the US economy continuing to be in recession, American firms are likely to carry forward their cost cutting drive into next year in doling out starting salaries, except those with expertise, says a survey.

Deve Gowda ridicules austerity measures

JDS chief and former Prime Minister H D Deve Gowda on Saturday took a dig at the austerity measures recently advocated by Union Finance Minister Pranab Mukherjee for both MPs and ministers as part of resource mobilisation efforts.

Oil Major BP ups cost cut target as profits dive

Oil giant BP Plc said it had increased its cost reduction targets for 2009 by 50 percent to USD 3 billion, as it reported a halving in second quarter profits due to lower oil prices and weaker refining margins.

India becomes R&D hot spot as high-tech firms cut costs

At Microsoft`s research centre in a leafy lane in India`s tech capital, a new generation of researchers are being groomed half a world away from the software giant`s sprawling headquarters in Seattle.