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In 4Q15, $CMI reduced its worldwide workforce by approx. 1,900 employees in response to lower demand for its products in the U.S. and key markets around the world. The company incurred a charge of $90MM for the headcount reductions in 4Q15, of which $86MM will be settled in cash and an additional $4MM for impairment and other related charges.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.