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$ESND announced a cost reduction plan to reduce its operating costs by about $20MM on an annualized basis by 1Q16 through de-layering of its management structure and simplify the organization as it transitions to a common operating and IT platform. $ESND expects to incur about $10MM of pre-tax charges in 4Q15 associated with cost reduction actions.
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.