CBS reports $12 billion loss
@ October 30, 2008 # No Comment Yet
CBS reports a $12.4 billion loss after having to write down the company’s value assets and suffering a decline in the advertising market. Although it reported a loss, the media giant says it will have enough money for its dividend. CBS also announced that it expects a percentage fall in its 2008 fiscal operating income.
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American Express to reduce staff and programs
@ October 30, 2008 # No Comment Yet
American Express is cutting 7,000 management jobs across the the country in hopes of saving $1.8 billion. The credit company has instituted a hiring and salary freeze and announced possible bonus reductions for its employees. AmEx will also reduce certain rewards programs for customers, as well as spending on marketing and advertising. Interest rates for [...]
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