Business

This tag is associated with 1423 posts

Bombardier – 1,800 jobs to be cut

Bombardier Aerospace president and CEO Guy Hachey is retiring after six years in the post amid a restructuring of its operations that will result in the layoff of 1,800 employees. The Montreal-based company (TSX:BBD.B) says its aerospace division will operate in three segments — business aircraft, commercial aircraft and aerostructures and engineering services — each … Continue reading

Ethiopia – Cheap labor and electricity attract investment

A combination of cheap labor and electricity and a government striving to attract foreign investmentmakes Ethiopia more attractive than many other African nations, said Deborah Brautigam, author of “The Dragon’s Gift: The Real Story of China in Africa” and a professor of international development and comparative politics at Johns Hopkins University’s School of Advanced International … Continue reading

Allergan – To cut about 1,500 jobs

Allergan Inc., the maker of the wrinkle remover Botox, will cut 1,500 jobs and eliminate another 250 vacant positions as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International Inc. The job cuts, representing 13 percent of Allergan’s global workforce, and further restructuring will lead to savings of about $475 million next … Continue reading

Microsoft – To cut 18,000 jobs at Nokia

Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company’s 39-year history and … Continue reading

Bosch in Belgium – To cut 400 jobs

German industrial group Bosch will cut up to 400 jobs, or about a third of the workforce at a windscreen wiper factory in Tienen, Belgium, the company said on Thursday. The cuts, which will be implemented by 2020, were a result of increased competition and the aim of making the production process more efficient through … Continue reading

BHP Billiton – The worlds largest miner cuts 500 jobs, and more to come

The worlds largest miner, BHP Billiton, has cut 500 Australian jobs out of its iron ore business.The jobs have gone in the last month, many more are expected and are linked to an ongoing review of the business by management consultants McKinsey & Company.The cuts come with the iron ore spot price having plunged more … Continue reading

Avon – To cut about 600 jobs

Cosmetics maker Avon Products Inc said it would cut about 600 jobs, including in its North America unit, as the company struggles to return to profit. The direct seller of cosmetics, which has posted losses in five of the past six quarters, had about 36,700 employees, including 4,300 in the United States, at the end … Continue reading

Foxconn in India – Layoffs announced

Foxconn India announced to its employees that it is “considering layoffs/retrenchment”, just two days after the company offered a voluntary retirement scheme VRS that would be valid till June 20.  ET had written about the companys VRS plans on June 3, 2014, and this is the first time Foxconn is making it official. The company … Continue reading

Foreign-Owned Establishments in US Metro Areas – They employ some 5.6 million

Foreign-owned U.S. affiliates directly employ some 5.6 million workers spread across every sector of the economy. The number and share of U.S. workers employed in FOEs increased steadily through the 1990s before peaking in 2000 and then stagnating. The nation’s largest metro areas contain nearly three-quarters of all jobs in FOEs. Fully 74 percent of … Continue reading

Haier Group – 26,000 Layoffs in two years

China based Haier, maker of appliances and consumer electronics, started 2013 with 86,000 employees worldwide, but that number is likely to be about 60,000 by the end of 2014.  Most of those layoffs have already happened. The company laid off 16,000 workers in 2013, and by the end of May 2014 the number was at … Continue reading

Hydro-Quebec – To cut hundreds of jobs

Hydro-Quebec, Canadas largest power utility, will eliminate hundreds of positions this year as the province looks to trim $2.7 billion in spending, QMI Agency has learned.  The Crown corporation had already announced a series of buyouts but QMI has learned that the early retirements wont be enough to meet job-cutting targets. The Montreal-based utility was … Continue reading

ADP Job Report in US – Business Report and National Franchise Report will be issued together at 8:15 a.m. ET

ADP, a leading global provider of Human Capital Management solutions, will now issue the new ADP Small Business Report and the ADP National Franchise Report as separate monthly reports on the same day it issues the ADP National Employment Report. All three reports will be issued at 8:15 a.m. ET. This change will take effect … Continue reading

US – The 2009 Recovery Act directly created and saved jobs primarily in government finds St. Louis Fed

Over one-half of the fiscal spending component of the American Recovery and Reinvestment Act ARRA; i.e., the Recovery Act was allocated via grants, loans, and contracts. Businesses, nonprofits, and nonfederal government agencies that received this type of stimulus funding were required to report the number of jobs directly created and saved as a result of … Continue reading

Morrisons (UK) – To cut 2,600 jobs

UK supermarket chain Morrisons plans to cut 2,600 jobs as a result of changes to its management structure. The firm, which has 126,000 staff, will reduce layers of management, it said. Dalton Philips, Morrisons’ chief executive, said the changes would “lead to simpler, smarter ways of working”. The former chairman, Sir Ken Morrison, told the … Continue reading

Avtovaz (Russia largest carmaker) – To cut 13,000 job

Russias largest carmaker, AvtoVAZ, said on Friday it expects to cut 13,000 staff – more than previously indicated – at its Togliatti plant due to falling sales of its flagship Lada. Avtovaz slumped to a loss last year, and recently appointed CEO Bo Andersson is battling to revive business in a touch economic environment amid … Continue reading

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