Business

This tag is associated with 1485 posts

Peugeot in France – To cut 3,450 jobs in 2015

PSA Peugeot Citroen (PEUP.PA) is preparing to cut another 3,450 French jobs next year as the troubled carmaker pursues a recovery plan under new Chief Executive Carlos Tavares, two sources with knowledge of the matter said. The cuts, to be achieved through a combination of early retirements, voluntary buyouts and internal transfers, will be presented … Continue reading

Federal Taxes, 2011 in US – Average tax rates by quintile goes from 11 percent to 23 percent CBO finds

In 2011, according to CBO’s estimates, average household market income—a comprehensive income measure that consists of labor income, business income, capital income (including capital gains), and retirement income—was approximately $81,000. Government transfers, which include benefits from programs such as Social Security, Medicare, and unemployment insurance, averaged approximately $13,000 per household. The sum of those two … Continue reading

Minimum wage hike in New Brunswick – May cause layoffs says the Canadian Federation of Independent Business

An upcoming increase to the minimum wage in New Brunswick may force business owners to reduce hours or lay off employees, according to the Canadian Federation of Independent Business. “Businesses in New Brunswick right now are not exactly rolling in dough and they have to make some very ugly choices,” said Dan Kelly, the CFIB’s … Continue reading

ABN Amro – To cut up to 1,000 jobs

ABN Amro Group NV, the state-owned Dutch lender preparing for a share sale next year, will cut as many as 1,000 jobs by 2018 and shrink its branch network as customers move to banking on their phones. via ABN Amro to Cut Up to 1,000 Jobs in Consumer Bank by 2018 – Bloomberg.

Philadelphia Fed on Labor Market – Significant progress has been made

Last week’s employment numbers showed employers adding 214,000 jobs in October. Revisions for September and August added 31,000 more jobs than originally estimated. Interestingly, what we once thought was a weak jobs report for August now shows we added 203,000 jobs, which means that we have had nine months of job growth above 200,000 for … Continue reading

JPMorgan – To cuts 8,000 more mortgage and card jobs

JPMorgan Chase & Co. expects to eliminate 8,000 more jobs this year in mortgage and community banking than it forecast 20 months ago as profit and revenue from the businesses drop. What’s happened is that refinancing activity has fallen way off as super-low interest rates pulled forward refi demand, and depleted normal rates to come. … Continue reading

Google Hire Spree – 30,000 more workers in California

Google may be on course to expand  its already large  workforce in the San Francisco area by 30,000 more people. With more and more property being leased and bought, Phil Mahoney, a broker with commercial realty firm Cornish & Carey, said,”I’ve never seen anything like this sort of expansion from any one company.” via Google’s … Continue reading

Mining Supply and Services in Ontario – Sustaining 68,000 direct and indirect jobs study finds

In 2011, Ontario’s mining supply and services sector contributed $3.9 billion to the province’sgross domestic product, and sustained around 68,000 direct and indirect jobs, according to to a new study published by the Canadian Association of Mining Equipment and Services for Export (CAMESE). CAMESE managing director Jon Baird said the study’s finding are historic, because … Continue reading

SNC-Lavalin – To cut 4,000 jobs

SNC-Lavalin Group Inc. is slashing almost 10 per cent of its global workforce and sharply revising downward its 2014 outlook as it exits underperforming businesses and imposes more cost-cutting measures. Montreal-based SNC said Thursday it will over the next 18 months scale back some activities and restructure and streamline some of its operations and corporate … Continue reading

Layoffs in US – Challenger reports employers announced 51,000 layoffs in October, up 68% from September

Announced layoffs swung higher last month, rising to about 51,000 in October, bouncing up from a 14-year low in September, according to data released Thursday by outplacement consultancy Challenger, Gray & Christmas. Led by retail job cuts, October’s announced layoffs were up 68% from 30,000 in September and 12% from 46,000 announced cuts in October … Continue reading

ADP US Employment Report for October 2014 – Private-sector employment increased by 230,000

Private-sector employment increased by 230,000 from September to October, on a seasonally adjusted basis. Highlights Small businesses (1-49 employees) +102,000 Medium businesses (50-499 employees) +122,000 Large businesses (500 or more employees) +5,000 via ADP National Employment Report – October 2014 | NER.

Volkswagen in China – Aims to create about 5,500 new jobs at its new component plant

Located in the Tianjin Economic Technological Development Area (TEDA) in North-East China, the plant is the 107th of the Volkswagen Group and has been built at an initial investment of 265 million (RMB 2.2 billion) to boost economic activity in Northern China. By 2019, it aims to create about 5,500 new jobs in the region. … Continue reading

Rolls-Royce – To cut 2,600 staff, mostly in the Aerospace division

British engineer Rolls-Royce (RR.L) plans to cut 2,600 jobs to save money and has replaced its finance director, aiming to restore confidence following two profit warnings in eight months. The world’s second-largest maker of aircraft engines said the job cuts, which will mostly come in the Aerospace division and will take 18 months to complete, … Continue reading

Scotiabank – To cut 1,500 jobs

Scotiabank (TSX:BNS) warns that it’s cutting the equivalent of 1,500 jobs companywide – about two-thirds of them in Canada – and taking a number of accounting measures that will cut about $341 million from its profit for the fourth quarter. Despite the magnitude of the announcement, the bank said it remains on track to meet … Continue reading

Sprint – To cut 2000 jobs

Sprint Corp (S.N) announced on Monday it will fire 2,000 employees and it cut its 2014 adjusted earnings forecast as the company attempts to reduce costs and turn around several quarters of losses. The layoffs are expected to lower labor costs by $400 million a year and are the latest job cuts by the third … Continue reading

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