Business

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Microsoft – 2100 jobs cut today

Microsoft has confirmed today that 2100 employees were cut today as part of the previously announced layoffs. Of those cut, 747 were in the state of Washington with the rest occurring in offices around the world. Back in July, Microsoft said that it would cut 18,000 employees, which will cost them between $1.1bn and $1.6bn when … Continue reading

Sony – 1,000 job cuts

The company plans to cut staff in its mobile communications business by about 15 percent, or roughly 1,000 people, Hirai said. Details of that plan are to be announced later. via Sony forecasts Y230 bil loss, 1,000 job cuts ‹ Japan Today: Japan News and Discussion.

Toshiba – To cut 900 jobs (PC)

Japan’s Toshiba Corp said it would cut 900 jobs in a restructuring of its PC business that will include an exit from business-to-consumer operations in some regions. via Toshiba says to cut 900 jobs in PC restructuring | Business | Reuters.

The world’s 300 largest pension funds – Total assets grew by over 6% in 2013

Total assets of the world’s largest 300 pension funds grew by over 6% in 2013 (compared to around 10% in 2012) to reach a new high of almost US$15 trillion (up from US$14 trillion in 2012). The P&I / Towers Watson global 300 research is conducted in conjunction with Pensions & Investments, a leading US … Continue reading

Greece – Alpha Bank to cut 15 percent of jobs

Alpha Bank, Greece’s fourth biggest lender, opened a voluntary redundancy offer on Monday with a view to cutting 15 percent of its workforce to cut costs under a restructuring plan approved by the EU Commission, an official at the bank said on Monday.  All four of Greece’s top banks have been restructuring but Alpha’s bigger … Continue reading

Employees – Less than half believe employers are open and upfront

More than half of us don’t believe our employers are open and upfront with us. This disturbing news comes to us from the American Psychological Association’s 2014 Work and Well-Being Survey, which finds nearly 1 in 4 workers don’t trust their employers, 1 in 3 reported their employers aren’t always honest or truthful, and less … Continue reading

India to China – Set up manufacturing units

India today asked China to invest in setting up manufacturing units in the country to bridge the widening trade deficit and create jobs in the country. Commerce and Industry Minister Nirmala Sitharaman said India has signed an agreement with China in June to set up Chinese Industrial Parks in India. “We are expecting Chinese to … Continue reading

US – Employers are not hiring , they squeeze

As the August jobs report on Friday indicated, U.S. employers still aren’t hiring tons of employees on a consistent basis. Recent data from Sageworks, a financial information company, also suggest  companies may have less incentive to absorb some of the slack in the labor market that Federal Reserve officials have highlighted in recent weeks. Privately held … Continue reading

Layoffs in Finland – The autumn will be even bleaker than the summer

The autumn will be even bleaker than the summer in terms of unemployment, according to employment experts. Firms are no longer simply putting employees on furlough, but are more eager to terminate their agreements outright. One researcher says that the situation can now be described as mass unemployment. Chosen excerpts by Job Market Monitor. Read … Continue reading

Brazil After The World Cup – In recession

Brazil’s economy slipped into recession for the first time in more than five years as investments contracted on lower confidence before the October presidential election. Gross domestic product (GDP) shrank by 0.6% in the April-June period from the previous three months, after contracting a revised 0.2% in the first quarter, the national statistics agency said … Continue reading

Atlantic City – 6,000 layoffs of casino workers to come next week

One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. … Continue reading

Canada – Business entry rate declined from 24.5% to 13.1% from 1983/1984 to 2011/2012 finds StatCan

Firm entry and exit are an important source of dynamism that is essential to a well functioning economy. The entry of new firms is an important source of productivity growth and technology adoption while exit removes less productive firms. Based on a new set of linked, experimental data for the period 1983/1984 to 2011/2012, Canada’s … Continue reading

US – Employers are no longer investing resources in training

Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading

Cost Competitiveness – The old worldview now appears to be out of date

For the better part of three decades, a rough, bifurcated conception of the world has driven corporate manufacturing investment and sourcing decisions. Latin America, Eastern Europe, and most of Asia have been viewed as low-cost regions. The U.S., Western Europe, and Japan have been viewed as having high costs. But this worldview now appears to … Continue reading

Europe – The recession is really a depression

Eurozone GDP still hasnt gotten back to its 2007 level, and doesnt look like it will anytime soon. Indeed, it already wasnt clear if its last recession was even over before we found out the eurozone had stopped growing again in the second quarter. And not even Germany has been immune: its GDP just fell 0.2 percent … Continue reading

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