China Financial News Headlines

Pepsi-Cola lays off 3300 Employees and closes 6 Factories because of Poor economy
As the financial crisis sweeps the globe, second-largest beverage maker Pepsi-Cola announced to lay off 3300 employees and close 6 factories to save the cost. In addition, PEP claimed the third-quarter profit fell 9.5% and the company would lower the earnings expectations in the fourth quarter.

Financial Crisis shocks the Sports Field
NBA laid off 9% of employees, and Manchester United trapped in 760 debt, so the financial crisis has shocked the sports field.

European Third-largest Truck Manufacturer will lay off the Employees and reduce the Production
According to German media reports on the 10th, European third-largest truck manufacturer MAN Company plans to lay off the employees and reduce the production. However, the company will mainly lay off the temporary workers so as not to cause great influence on company. According to the report in second quarter, until June, there were 4000 temporary workers in the company.

Philips Layoff Planning
According to foreign media reports, Philips announced on Monday to lay off uncertain number of employees because of declining demand in European and new market.

Qimonda plans to reorganize and lay off 3 thousand people
Qimonda recently claimed a radical restructuring program. Except selling Inotera shares to Micron, Qimonda will change the product focus, reduce production capacity and close production lines. It is predicted that there 3000 employees will receive the layoff notice in Germany and the United States.

Cisco CEO Chambers eat his words and began to lay off
On Oct. 16, Cisco formally submitted the layoff plan of German factory to supervision institution, and the number of layoffs is 129 people.

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