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For FY16, $JOY expects carryover savings from cost reduction actions taken in 2015 to be about $45MM. $JOY will take actions to optimize workforce and global manufacturing assets for lower levels of demand and expects to incur restructuring charges of $30-40MM across 2016. These actions are expected to drive additional cost savings of $40MM.
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.