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....8bn by 2019. The majority of the extra cost savings will come from corporate job reductions, incoming chief executive James Quincey said in a conference call. ... [Read full article on BBC ]
Tuesday 25th of April 2017 06:29:31 PM
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Latest Finance News related to Cost Saving

Coca Cola to cut 1,200 jobs image
Source : BBC [Read Article] Tuesday 25th of April 2017 06:29:31 PM
....8bn by 2019. The majority of the extra cost savings will come from corporate job reductions, incoming chief executive James Quincey said in a conference call. ...
Sir David Attenborough to become 3D hologram for Sky VR documentary image
Source : Guardian [Read Article] Thursday 20th of April 2017 11:15:04 AM
....Darroch said a significant increase in total revenues, which have grown 11% to £9. 6bn in the nine months to March, and cost savings helped it tabsorb the higher programming bill, which pushed total costs up 8% to £8. ...
Dulux owner reports 'record performance' image
Source : BBC [Read Article] Wednesday 19th of April 2017 07:04:29 AM
.... . It said the separation, which would also achieve 50m euros of cost savings, would be completed within 12 months. ...
Weetabix sold to US firm after breakfast cereal fails to catch on in China image
....Post has annual revenues of $5bn(£4bn) expects to make annual savings of about £20m a year before the third full year after completion of the deal, from shared administration and infrastructure among other things. It estimates that Weetabix will contribute about £120m of adjusted earnings before interest, tax, depreciation and amortisation, excluding cost savings. ...
Bombardier and Siemens 'in train deal talks' image
Source : BBC [Read Article] Tuesday 11th of April 2017 09:17:35 PM
....RBC analyst Walter Spracklin said that although details were lacking, he viewed a combination of the two positively. He pointed to shared expertise of industry leaders, potential cost savings and better competition against lower-cost Chinese companies that are "beginning to reach beyond their own borders". ...
The good stuff image
Source : BBC [Read Article] Monday 10th of April 2017 11:19:56 PM
.... . "Engaged employees lead not only to better corporate performance, but also significant cost savings through stronger retention and more targeted recruitment based on cultural appreciation," she says. ...
Unilever bins Flora – but butters up its shareholders | Nils Pratley image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:21:41 PM
. Complacent? Us? Try a €5bn share buyback, a 12% better dividend, deeper cost savings and a firm target for profit margins in 2020. ...
Reckitt Benckiser confirms review of food business image
Source : BBC [Read Article] Monday 3rd of April 2017 07:27:52 AM
.... . Mr Kapoor said the deal was in line with company strategy and would generate £200m of cost savings after three years - although it would not generate a return for about five years. ...
Pension changes: Workers warned as tax perks SLASHED after April 5 image
Source : Daily Express [Read Article] Saturday 1st of April 2017 09:01:00 AM
....“The Government needs to stop tinkering at the edges and accept the current rules are not fit for purpose. "It should shelve this unfair cut in pension savings incentives and go back to the drawing board so we have a system that works for savers as well achieving the cost savings the Treasury is aiming for. ...
Reckitt Benckiser slashes boss's pay by 40% image
Source : BBC [Read Article] Friday 31st of March 2017 02:22:16 PM
.... . Mr Kapoor said the deal was in line with company strategy and would generate £200m of cost savings after three years - although it would not generate a return for about five years. ...
Five banks are merging to create an Indian super-bank image
Source : BBC [Read Article] Thursday 30th of March 2017 11:03:23 PM
.... . The government expects the merger to create $200m in cost savings. ...
Johnston Press reports £300m loss after huge newspaper writedown image
Source : Guardian [Read Article] Wednesday 29th of March 2017 08:59:13 AM
....“Amid ever-growing concerns from advertisers, both big and small, about the placement of their brand alongside unacceptable content, and increasing uncertainty around fake news, we believe our strategic focus on providing readers and advertisers alike with news platforms that serve as a trusted source of truth and insight, put together by teams of professional reporters who know their communities, is becoming ever more important,” said Highfield, who is chairman of the News Media Association, the trade body for newspapers that has hit out against Google and Facebook. The company said it made £26m in cost savings last year, which included axing 200 sales and distribution staff, and has made £100m in savings since 2012. ...
Dow and Dupont merger gets EU go-ahead image
Source : BBC [Read Article] Monday 27th of March 2017 12:10:59 PM
.... . The deal values the merged company at $130bn (£103bn) and is expected to lead to cost savings of $3bn. ...
Bonus for Pearson chief despite biggest loss in company's history image
Source : Guardian [Read Article] Friday 24th of March 2017 03:30:57 PM
....“The Pearson board has decided John Fallon will receive a limited bonus, in line with the company’s broader bonus policy, and reflecting Pearson achieving its 2016 profit and earnings per share guidance, delivering strong operating cash flow, and delivering a major restructuring successfully,” said a spokesman. Fallon also cut 4,000 jobs, 10% of Pearson’s global workforce, making more than £350m in cost savings. ...
Top executives may be brilliant – but their pay's about timing and luck image
.... Against that unlovely prospect, the all-share takeover makes sense. Wood reckons it can find £110m of annual cost savings for an upfront cost of £190m spread over the first three years of ownership. ...
Bovis in talks with rival builder Galliford Try after rejecting £1bn offer image
....”. A merger in the housebuilding sector could bring important cost savings at a time when it is under pressure from skills shortages and shaky investor sentiment as the UK prepares to embark on the process of leaving the EU. ...
Forget the fuss – bumper paydays go on for UK's best-paid boss Sorrell | Nils Pratley image
....Cumming was one of Standard Life’s most senior figures, had a big following and directly managed £27bn of investments. But, in a merger where shareholders have been promised £200m of cost savings, not everybody can be deemed indispensable. ...
Standard Life's Aberdeen deal means job losses – but avoids US takeover image
.... Standard Life lost its fizz last year as GARS underperformed its benchmark. A turnaround on both fronts is as important as the cost savings. ...
Vauxhall deal prompts cautious optimism from UK government image
Source : BBC [Read Article] Monday 6th of March 2017 03:37:53 PM
....Former Business Secretary Sir Vince Cable expressed concerns about jobs because of the government's "lack of commitment to the customs union and the single market". Professor Christian Stadler, of Warwick Business School, expect jobs to be cut: "PSA has done it before and there is no other way to realistically achieve the cost savings they have in mind, which might possibly mean plant closures as well. ...
Standard Life  and Aberdeen Asset Management confirm merger talks image
Source : Guardian [Read Article] Sunday 5th of March 2017 05:57:06 PM
....Talks between the companies about a merger were revealed at the weekend and a tie-up could be confirmed as soon as Monday, creating the second biggest fund manager in Europe and the largest in the UK. In a joint statement confirming the talks, the financial companies said the tie-up would boost profits by creating significant synergies and cost savings. ...
Boots, Walkers crisps and Greggs cost cutting puts 1,400 UK jobs at risk image
Source : Guardian [Read Article] Wednesday 1st of March 2017 04:15:37 PM
....”. Both Greggs and Walkers denied the cost savings were linked to rising costs linked to the fall in the value of the pound since the Brexit vote. ...
Vauxhall production guaranteed until at least end of decade, PSA tells union image
....Carlos Tavares has been on a charm offensive with politicians and unions in the UK and Germany, trying to soothe fears over factory closures and job losses if the takeover goes ahead. A day after he talked about “speedy” cost savings from the deal, the former Nissan executive headed to London for talks with the UK business minister, Greg Clark, who described the meeting as constructive and reassuring. ...
Education publisher Pearson reports biggest loss in its history image
Source : Guardian [Read Article] Friday 24th of February 2017 08:17:21 AM
....In 2015 no incentive pay was awarded and this year the company is setting aside £110m for payouts “to ensure our workforce is properly incentivised”. The company made more than £350m in cost savings last year, cutting 4,000 jobs, 10% of its global workforce. ...
Vauxhall job fears rise as Peugeot boss mentions 'speedy' savings image
Source : Guardian [Read Article] Thursday 23rd of February 2017 11:00:40 AM
....The boss of PSA Group said the French carmaker’s proposed purchase of General Motors’ lossmaking European business could bring “speedy” savings, prompting fresh fears over job cuts at Vauxhall in the UK – just hours after speaking to Theresa May. Carlos Tavares, the chief executive of PSA, which owns Peugeot, Citroën and DS, said on Thursday morning that adding GM’s German Opel and British Vauxhall brands would attract new customers and generate substantial cost savings. ...
Peugeot owner PSA sees profits nearly double image
Source : BBC [Read Article] Thursday 23rd of February 2017 10:11:37 AM
Pension warning: Retirees set for SHOCK tax bill after new rules are introduced THIS April image
....“The Government needs to stop tinkering at the edges and accept the current rules are not fit for purpose. It should shelve this unfair cut in pension savings incentives and go back to the drawing board so we have a system that works for savers as well achieving the cost savings the Treasury is aiming for. ...
Merseyrail and Northern strike ballots open amid Southern deal collapse image
Source : Guardian [Read Article] Friday 17th of February 2017 04:59:24 PM
....”. The government has made it clear that cost savings, and driver-controlled trains, are part of its vision for future franchises, including the South Western franchise currently operated by South West Trains, which will be let this year. ...
Unilever to mount fierce defence against Kraft Heinz after rejecting £115bn offer image
....Paul Polman, the chief executive of Unilever, would be one of the biggest beneficiaries of a takeover, which would trigger a payout of bonus shares worth nearly £12m. Analysts said that while any deal would create massive cost savings, it would also give the combined firm the muscle to drive up prices on popular brands such as Hellmann’s mayonnaise and Ben & Jerry’s ice cream. ...
Nurofen maker acquires US baby food and Choco Milk company image
Source : Guardian [Read Article] Friday 10th of February 2017 09:57:31 AM
.... Five years ago, China was not in Reckitt’s top 10 markets, he said. The deal is estimated to bring £200m in annual cost savings. ...
Rolls-Royce: questions remain despite £671m bribery settlement | Nils Pratley image
....Is there any mileage left, though? BAT is betting there is because it is buying Reynolds at almost 17 times its earnings, thought to be the highest price ever paid for a large tobacco firm. That ratio looks aggressive, especially as promised cost savings of $400m are small in the context of the deal. ...
Sir David Clementi confirmed as new BBC chair image
Source : Guardian [Read Article] Tuesday 10th of January 2017 03:53:39 PM
....”. Top of the agenda for Clementi will be to work hand-in-hand with Hall to set the strategy and editorial direction of the BBC and implement cost savings of £800m by 2020. ...
Prices of Oxo, Bisto and Mr Kipling to rise after pound's Brexit plunge image
Source : Guardian [Read Article] Tuesday 10th of January 2017 12:38:42 PM
....The company is also considering adjusting “promotional mechanics”, meaning some offers, such as biscuit packs where customers get extra biscuits “free”, will be axed. It will also look to make cost savings in some areas, to avoid raising prices or cancelling promotions. ...
Fewer car owners and more driverless vehicles in future, survey reveals image
Source : Guardian [Read Article] Monday 9th of January 2017 12:01:02 AM
....“The UK is particularly suited to the early adoption of self-driving cars consumed as a service. Our greenbelt policy has created a relatively dense urban population which, when coupled with our high fuel prices, means that so-called robot taxis offer a greater cost saving to the UK public, compared to European or North American markets. ...
Rail chiefs or unions: can passengers trust either of them? | Rafael Behr image
Source : Guardian [Read Article] Wednesday 4th of January 2017 07:00:17 AM
.... They humanise the service. Despite Southern’s offers of job security to existing guards, the suspicion remains that the company is seeking to ditch jobs, and no one expects any cost savings to translate into cheaper fares. ...
LSE to sell French clearing arm to ease Deutsche Börse merger image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 07:59:44 AM
....Following the UK vote to leave the European Union in June, LSE and Germany’s Deutsche Börse moved quickly to allay fears that the referendum result and subsequent Brexit would scupper the deal. Details of the merger released before the referendum showed the combined entity aims to make €250m in annual cost savings after five years, as well as the €450m already flagged, and cut 1,250 jobs. ...
Broadband boost for remotest parts of UK image
Source : BBC [Read Article] Thursday 22nd of December 2016 12:00:05 AM
....Experts said it was not all "new money" but would still be welcomed. The cash will be made up of £150m in cost savings and the rest in the form of returned subsidies from BT, the government said. ...
Amazon Go checkout-free stores look set to come to UK image
Source : Guardian [Read Article] Friday 9th of December 2016 11:54:59 AM
....The prospect of rapid automation of the retail industry has added to unease about the use of technology to replace human workers. Capita, the outsourcing company that collects the BBC licence fee, said this week it would cut 2,000 jobs and plough the cost savings into developing robots. ...
Apple supplier Imagination Technologies jumps after restructuring image
Source : Guardian [Read Article] Tuesday 6th of December 2016 11:19:25 AM
....It has sold its Pure radio business and most of IMGsystems, with design and software group IMGworks near disposal, and it has achieved £27. 5m of annual cost savings. ...
The $40m 'magic pipe': Princess Cruises given record fine for dumping oil at sea image
....The documents also show illegal practices were found on four other Princess ships, including use of clean ocean water to fool onboard sensors that would otherwise detect dumping of improperly contaminated bilge water. Authorities say cost savings was the motive and that the ship’s officers and crew conspired to cover up what was going on. ...
Clydesdale Bank posts first annual profit in five years image
Source : BBC [Read Article] Tuesday 22nd of November 2016 01:22:14 PM
....It said in September that it would trim its branch network further, from 248 to less than 200 over the next three years. Alongside the cost savings, it is investing more than £350m over the next two years on improving its online banking offering and boosting technology platforms. ...
FTSE 100 closes down on mining groups image
Source : BBC [Read Article] Friday 18th of November 2016 09:26:30 AM
....1% after the electronic component distributor reported a 76% jump in half-year profits to £55. 1m, and raised its target for cost savings. ...
FTSE 100 higher but Royal Mail shares fall image
Source : BBC [Read Article] Thursday 17th of November 2016 12:45:45 PM
....6p to 463. 2p after it reported a dip in half-year profits and raised its target for cost savings. ...
Royal Mail shares slide as profits fall image
Source : BBC [Read Article] Thursday 17th of November 2016 08:57:26 AM
. Royal Mail shares have fallen after the company reported lower profits and increased its target for cost savings. ...
Tobacco firm Reynolds 'stubs out $47bn BAT offer' image
Source : BBC [Read Article] Tuesday 15th of November 2016 01:30:24 AM
.... The FTSE 100 company is offering $20bn in cash and $27bn in shares for the US business. At the time of the bid BAT said the merger was "the logical progression in our relationship" and estimated it could produce cost savings worth $400m. ...
ITV revenues hit by 'cautious' advertisers image
Source : Guardian [Read Article] Thursday 10th of November 2016 08:26:56 AM
....5% to 2%. Crozier has already announced £25m in cost savings for 2017 and last month cut 120 jobs, citing the political and economic uncertainty of a potential Brexit slowdown. ...
Stock markets can shrug at Trump's arrival – but not for long image
Source : Guardian [Read Article] Wednesday 9th of November 2016 06:51:54 PM
.... The challenge of integrating two large supply chains is formidable but the strategy itself looks low-risk. If cross-selling opportunities exist, great; if not, at least Sainsbury’s can bank a few cost savings. ...
Sainsbury’s boss says suppliers should take hit over falling pound image
Source : Guardian [Read Article] Wednesday 9th of November 2016 09:08:09 AM
....Sainsbury’s also plans to open three more supermarkets and more than 20 convenience stores despite the difficulties in the grocery market. The retailer said it was on track to deliver £500m of cost reductions by the end of 2017-18, and had also identified another £500m of cost savings that could be realised over three years from 2018. ...
Next sees sales fall again in 'difficult' quarter image
Source : BBC [Read Article] Wednesday 2nd of November 2016 07:39:19 AM
....25% higher than the previous year. However, it said that cost savings meant its central profit forecast for the full year remained unchanged at £805m. ...
Would you do your banking with a tech startup? image
Source : Guardian [Read Article] Wednesday 19th of October 2016 08:53:58 AM
....It’s not just a result of founder Tom Blomfield’s goal “to get to 1 billion customers”, and subsequent plans for international expansion before the company has even fully launched in the UK (Monzo is “testing US dollar and Euro cards right now”, he says). It’s also because, where its competitors have largely been positioning themselves as innovative banks, focusing on the cost savings afforded without the overheads of branches, and highlighting their competitive deals, Monzo has focused more on the wider possibilities offered by building a bank from the ground up in the 21st century. ...
Bright light image
Source : BBC [Read Article] Thursday 6th of October 2016 11:02:54 PM
....Lamp posts double as data collectors, communicating with a central control system that makes automated decisions about when they are on, for how long, and the brightness. Their supporters say the benefits include safer streets, calmer roads and considerable cost savings. ...
LSE-Deutsche Boerse merger plan being investigated image
Source : BBC [Read Article] Wednesday 28th of September 2016 03:01:06 PM
....Each of the companies has more than 5,000 staff and in June, the LSE said that the merger could lead to as many as 1,250 job losses. The deal is expected to produce £215m in annual cost savings over five years, with £138m of those achieved by the third year, while the headquarters in London and Frankfurt would both be kept. ...
Mitie outsourcing group issues profit warning image
Source : BBC [Read Article] Monday 19th of September 2016 08:52:29 AM
.... . The company, which is led by chief executive Baroness Ruby McGregor-Smith, said it was taking "strong action" to counter the impact of these pressures including making cost savings across the group. ...
Morrisons recovery continues as sales and profits rise image
Source : BBC [Read Article] Thursday 15th of September 2016 07:32:32 AM
....". As well as improving sales, Morrisons also said it expected to exceed its three-year cost savings target of £1bn by the end of 2016-17. ...
Bayer confirms $66bn Monsanto takeover image
Source : BBC [Read Article] Wednesday 14th of September 2016 09:38:29 AM
.... . "Clearly Bayer will realise cost savings from the acquisition, but they have had to pay an enormous price for Monsanto at a 45% premium to the previously undisturbed share price. ...
Marks and Spencer to cut 525 head office jobs image
Source : BBC [Read Article] Monday 5th of September 2016 11:40:04 AM
. Marks and Spencer is planning to cut about 525 head office jobs as part of an estimated £30m in cost savings. ...
Social credit image
Source : BBC [Read Article] Friday 2nd of September 2016 01:20:18 AM
....Recipients can then use the money to pay bills direct from their mobile wallets or make a cash withdrawal at any mobile money agent. Founder Stone Atwine says Remit offers significant time and cost savings, bypassing physical infrastructure for a fee of 4. ...
Hinkley Point C nuclear plant not essential - think tank image
Source : BBC [Read Article] Thursday 25th of August 2016 11:01:59 PM
....". Mr Massara said a more "flexible" cost saving approach was needed that "includes things like demand-side management, which means people can turn down their electricity demand and manage their demand, with smart meters and batteries which are going to come in the next five to six years". ...
William Hill bidders abandon three-way deal plan image
Source : BBC [Read Article] Thursday 18th of August 2016 04:17:08 PM
....". Rank and 888 said a combination of the three business could have resulted in £100m of cost savings a year and would have created Britain's "largest multi-channel gambling operator". ...
William Hill rejects revised offer from Rank and 888 image
Source : BBC [Read Article] Monday 15th of August 2016 07:08:23 AM
....Casino and bingo hall operator Rank and online gambling group 888 said that the proposed new combination would create the UK's largest multi-channel gambling operator by revenue and profit. They also said it would result in cost savings of at least £100m a year, while more savings could potentially be found "through constructive engagement". ...
William Hill in gambling takeover spat with Rank and 888 image
Source : BBC [Read Article] Thursday 11th of August 2016 11:27:19 AM
....Casino and bingo hall operator Rank and online gambling group 888 had said on Wednesday that the proposed new combination would create the UK's largest multi-channel gambling operator by revenue and profit. They also said it would result in cost savings of £100m a year. ...

NHS rationing set to worsen in attempt to close £22bn funding gap
 image
Source : Telegraph [Read Article] Friday 5th of August 2016 06:00:00 PM
....“These could include extending waiting times for treatment, raising the threshold at which patients become eligible for treatment, cutting some services altogether, or closing whole sites or hospitals,” she said. If the NHS continues making cost savings at the 2 per cent a year achieved in recent years, it would still have a funding gap of £6 billion , the report says. ...

NHS chief on record £60,000 a month as numbers 'off payroll' soar
 image
Source : Telegraph [Read Article] Tuesday 2nd of August 2016 09:00:00 PM
....A spokesman for King’s College Hospital NHS Foundation trust said: “In 2015, following significant changes to the Trust’s executive management team, we brought in a small number of specialist interim staff, for a limited period of time, to provide additional senior management support and help deliver savings for the trust.  “With this additional support in place, we maintained our operational performance during a time of high demand for our services, and delivered cost savings in excess of £56m (2015/16). ...
ITV braces for Brexit as profits rise image
Source : BBC [Read Article] Wednesday 27th of July 2016 07:21:59 AM
....ITV says it will need to cut costs to prepare for economic uncertainty sparked by the UK's decision to quit the European Union. The UK's largest non-subscription commercial TV company said it would target £25m in cost savings in 2017. ...
MPs gave Mike Ashley only a light toasting image
Source : Guardian [Read Article] Tuesday 7th of June 2016 06:28:33 PM
.... A watertight financial structure would be tricky to compose since Alliance Trust investors would surely not wish to accept a discount to asset value. Any potential cost savings might leak away in the inevitable organisational reshuffle. ...
Shell upgrades savings from BG deal image
Source : Guardian [Read Article] Tuesday 7th of June 2016 07:47:13 AM
....Shell added $1bn (£690m) to its estimate of gains from the takeover of BG Group as it set out a plan to support its dividend in an era of low oil prices. In a presentation to investors, the Anglo-Dutch company said it expected cost savings from the £35bn takeover of BG to be $4. ...
London Stock Exchange's merger deal to cost jobs image
Source : Daily Express [Read Article] Thursday 2nd of June 2016 09:55:00 AM
. About one in seven existing roles would need to disappear to achieve planned cost savings of about £350million by the third year after completion of the deal to create the world’s biggest exchanges group by income. ...
Shire climbs on prospects for Baxalta merger image
Source : Guardian [Read Article] Wednesday 1st of June 2016 10:19:42 AM
.... We see 5% earnings per share accretion over our stand-alone Shire numbers by 2020. This assumes $500m of operational cost savings, $400m of incremental sales (adding $170m of operating earnings) and a combined group tax rate of 16. ...
Marks & Spencer clothes to sharpen image image
Source : Daily Express [Read Article] Thursday 26th of May 2016 07:32:00 AM
.... M&S shares fell 45¼p to 399½p. Peel Hunt analyst Jonathan Pritchard said: “M&S has a major problem with its value for money image and staff levels have been seen as a route to cost savings. ...
Could new driverless cars slash insurance premiums? image
Source : Daily Express [Read Article] Sunday 22nd of May 2016 12:01:00 AM
....By eliminating human error, automated cars could slash death rates on the roads, with insurers saying they could do even more to save lives than the invention of the seatbelt. James Dalton, director of general insurance policy at the Association of British Insurers, says driverless cars will trigger a “safety revolution” and drive cost savings. ...
Burberry to overhaul retail operations after 10% fall in profits image
Source : Guardian [Read Article] Wednesday 18th of May 2016 07:39:27 AM
....“While we expect the challenging environment for the luxury sector to continue in the near term, we are firmly committed to making the changes needed to driver Burberry’s outperformance,” said Christopher Bailey, who combines the roles of chief designer and chief executive. The efficiency programme will cut the group’s operating costs by about 10% excluding fixed rent and depreciation, it said on Wednesday, and deliver cost savings of at least £100m by 2019. ...
TalkTalk profits halve after cyber-attack image
Source : Guardian [Read Article] Thursday 12th of May 2016 08:42:23 AM
....“The shares have recovered well from the lows they reached after the cyber-attack. If TalkTalk can deliver on its cost savings plans, and continue to increase its quad-play customer base, then there could be an attractive level of income on offer . ...

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