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$UNP said total full-time equivalent workforce was down 22% in 1Q16 versus the prior year quarter. Almost half of this decrease was driven by fewer employees in the training pipeline. $UNP added that it will continue adjusting its resources to demand. The company cut down its 2016 capital program to $3.675Bil, down $75MM from targeted $3.75Bil.
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.