They have reacted by radically restructuring their operations, closing plants and laying off thousands of workers.
Where it was struggling in North America, the world's largest chemical market, BASF has streamlined operations, closing old plants, acquiring a slew of new businesses and cutting the number of employees by 15%.
Apache joins the likes of BG Group, Statoil, Shell and Transocean in closing offices and curtailing drilling operations.
The streamlining of operations that included closing non-profitable stores, while expanding selling points in gas station marts, supermarkets, and so on.
The bank announced on Thursday it was closing its fraud and telephone operations from its site on Southchurch Avenue in the town.
Its manufacturing and supply operations will be rationalised, closing 100 of today's 380 factories.
"A lot of fire and rescue authorities are actually making the savings not by cutting fire and rescue posts, not by closing fire stations, but by shared operations, better joint working, and interestingly, amended shift practices, " he said.
The agency has said to reduce its headcount, it would need to scale back operations, including changes to Saturday delivery and closing processing plants.
Not only does China have the blessing of favorable geology (ample resources), but the country actively supported its rare earth mining operations at a time when Western miners were closing up shop.
Within months of winding down operations, he got a call from Zalkin, who was closing down the office and laying off staff.
Borders Chief Executive George Jones said Thursday that in addition to a plan to shave costs by closing about half the company's 564 Waldenbooks stores and selling some overseas operations, Borders will unveil its new proprietary Web site early next year.
Westmoreland said the mine fits well with its existing mine mouth operations, and it anticipates the transaction will be cash flow positive immediately upon closing, which is expected to be by January 31.
The strategic changes the company unveiled include closing stores, completing the wind down of its legacy catalog business, realignment of its call center operations and reorganization of its custom decorating business.
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