Layoffs

This tag is associated with 1087 posts

Future Shop – 1,500 employees hit with surprise layoffs

The future is cloudy for 1,500 full- and part-time Canadian retail employees who were hit with surprise layoffs this weekend in the Future Shop retail consolidation with Best Buy. Future Shop employees say they were as surprised as everyone else when the company shut its doors across the country on Saturday, ahead of a move … Continue reading

European and US Banks – 59,000 jobs cut in 2014

A total of 59,000 jobs in top European and US banks were axed in 2014, bringing the total job  cuts to 160,000 across 24 banks in the past two years, authorities said. Chosen excerpts by Job Market Monitor. Read the whole story at  Banks in Europe, US Lay Off 59,000 Jobs in 2014 – BusinessNewsAsia.com.

Volkswagen in Russia – To cut working hours and jobs

Volkswagen (VOWG_p.DE) will reduce shifts and lay off at least 150 workers at its Russian car plant, the German car producer said on Monday, to try to cut costs in a market downturn. via Volkswagen to cut working hours, jobs at Russian plant | Reuters.

Sharp – To cut 6,000 jobs

Japan’s loss-making Sharp Corp (6753.T) intends to cut 12 percent of its workforce in a global restructuring expected to cost more than $1.7 billion, a person familiar with the plan said on Thursday.  The job cuts will total around 6,000, half of which would come in Japan through early retirement while the rest would be … Continue reading

Yahoo in China – To cut “around 350″ jobs while closing

Internet giant Yahoo is closing its China office as part of a worldwide consolidation aimed at cutting costs.  The Beijing research centre is Yahoo’s only remaining physical presence in the country after it sold its Chinese operations to Alibaba in 2005. A spokesperson said “around 350 jobs” would be eliminated. “We are constantly making changes … Continue reading

France – To cut 22,000 hospital jobs

The French government’s bid to cut €3 billion off its bill for hospital spending will see up to 22,000 posts deleted over the next two years. France’s plan to save billions on health spending has become a little clearer. Health minister Marisol Touraine says over the next two years 22,000 jobs will not be filled … Continue reading

Royal Bank of Scotland (RBS) – To cut 14,000 jobs by 2019

The UK’s state-rescued Royal Bank of Scotland (RBS) is set to cut up to 14,000 jobs in its investment banking units across the United States and Asia by 2019, the Financial Times reported on Wednesday.  The number amounts to 80 percent of the jobs in the RBS’s investment banking sector, which is scheduled to experience … Continue reading

Royal Bank of Scotland (RBS) – To slash thousands more jobs

The bank, which has now reported seven straight losses adding up to £49.7bn since its 2008 bail-out, also said it would slash thousands more jobs in a dramatic restructuring of its investment bank, exiting two-thirds of the unit’s geographies and cutting around £70bn of assets. Chosen excerpts by Job Market Monitor. Read the whole story at  RBS … Continue reading

Microsoft in China – To cut 9,000 Nokia jobs

Microsoft Corp. plans to shut two mobile-handset manufacturing plants in China formerly run by Nokia Corp., cutting about 9,000 jobs in total, various reports said Thursday. Microsoft, which bought Nokia’s handset business last April, scheduled the closure of the plants — located in Beijing and the southeastern city of Dongguan — earlier this month and … Continue reading

Total – To cut 2,000 jobs

Total SA on Thursday became the latest casualty of the oil-price swoon, reporting a $5.66 billion net loss for the latest financial quarter and promising to shed billions more in cost savings, including 2,000 layoffs by 2017. Chosen excerpts by Job Market Monitor. Read the whole story at France’s Total Plans to Cut Jobs, Sell Assets After … Continue reading

SocGen in Russia – To cut 1,500 jobs

Societe Generale SA plans to eliminate about 1,500 jobs in Russia this year as the country’s economic contraction squeezes profitability, according to a person with direct knowledge of the discussions.  Societe Generale cut about the same numbers of positions in Russia in 2014, said the person, who asked not to be identified because the matter … Continue reading

Oil Industry – Mass layoffs complicate long-term plans

More than 100,000 layoffs have been announced across the industry worldwide since prices began to slide last summer, according to a tally kept by Bloomberg.  In recent weeks other major service companies have announced job reductions. Halliburton announced it will cut 6,400 jobs (8 percent of its global workforce) while Schlumberger will eliminate 9,000 positions … Continue reading

Yahoo – To cut 100 to 200 jobs, mostly in Canada

Yahoo Inc. is cutting between 100 and 200 employees, mostly in Canada, according to a person familiar with the matter, as Chief Executive Marissa Mayer works to reduce costs at the Internet company. The layoffs, focused on employees in the company’s Canadian offices, would affect roughly 1% of Yahoo’s world-wide staff of 12,500, this person … Continue reading

Displaced Workers – Why earnings fall

After being displaced from their jobs, workers experience reduced earnings for many years and are at greater risks of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including the unemployment insurance system, and have spurred calls for wage insurance that would provide longer-run earnings replacement. However, … Continue reading

US – Government workers are less likely to be displaced CATO finds

This paper examines the extent to which public-sector employment has been relatively recessionproof in the past, whether previous patterns with respect to job displacement held during the Great Recession, and whether the experiences of federal, state, and local government workers have been similar…   We use a sample of over 800,000 workers taken from the … Continue reading

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