Job Market Monitor
Michel Cournoyer
HSBC | 2,000 UK layoffs
Banking giant HSBC is this week expected to announce some 2,000 UK job cuts as part of a restructuring of its global business. The axe is expected to fall on nearly 4% of the bank’s 52,000-strong UK workforce in a drive to slash costs and help the business react to the tougher climate in the … Continue reading
UK | It is legal for companies to force retirement if in ‘public interest’
Companies could, for example, say they needed to dismiss older workers at 65 to make way for more entry-level jobs and younger staff climbing the career ladder, the long-awaited judgment signalled. It is the first time the “public interest” defence has been applied to age discrimination law, legal experts said, adding that the case gave … Continue reading
UPDATE – Indian Brain Drain | A law to curb it is coming
Compulsory Brain Drain : Indian Doctors should come back after Higher studies in the US | Asian Correspondent Any doctor who is going to the US for higher medical studies will have to sign a bond with the government that they will return back after their studies. Universities across the US will ask for this … Continue reading
Talent War | The Mining Battle
Bruno Rizzuto’s father, Cesare, was 19 when he got off a boat in Halifax from southern Italy in 1951. With no coat, and “5 cents in his pocket” he headed for the gold mines of Timmins, Ontario, where he worked underground for 41 years. Six decades later Rizzuto, a Calgary-based recruiter, is looking for people like his … Continue reading
UK | Millions of workers force to work past 75
Millions of workers will be forced to work past the age of 75 because they are in the dark on how much they need to save for a comfortable retirement. The Pensions Policy Institute, which carried out the research, said that people were not saving enough, although living longer, volatile stock markets and plunging annuity … Continue reading
Iran | At least 100,000 Layoffs Last Year
More than 100,000 Iranian workers lost their jobs in the past year alone, says the head of Iran’s House of Labour. According to Iran’s Labour news agency Ilna, Alireza Mahjoub, head of the state-sponsored union body, said that in the past year 100,000 workers had been laid off from one thousand production units across the … Continue reading
Statistics Canada Economists | A substantial number of layoffs
A substantial number of the 2,500 economists working at Statistics Canada could end up with notices that their jobs are affected by the Conservative government’s budget cuts, forcing them to compete with each other for their jobs, says the union representing them.
Renewable Energy Corp Closes Norway Solar Wafer Plant and Eliminates 460 Jobs
Renewable Energy Corp ASA (REC), Europe’s second-largest polysilicon producer, is closing its second wafer factory in five weeks after competition from Chinese rivals drove down prices by more than two-thirds for the material used in solar panels. REC will cease production at the plant in Heroya, Norway, in the second quarter, eliminating 460 jobs, REC … Continue reading
Top Republicans Say America ‘May Never Recover’ from President Obama
America’s top two Republican leaders fired blistering broadsides Tuesday at President Barack Obama, saying that the president had made the economy and the future worse and that the United States “may never recover.” House Speaker John Boehner (R-Ohio) laid down the starkest warning, telling Fox News, “America can’t live for four more years with Barack … Continue reading
University of the District of Columbia prepares layoffs
The University of the District of Columbia is preparing for wide-scale layoffs, as school officials say the District’s employee protections prevent them from axing employees they have accumulated over the last four decades. The “bloat” of employees, as one official described the situation, and relatively level funding from the District, has put the city’s only … Continue reading
Indian Brain Drain | A law to curb it is coming
With doctors increasingly preferring to migrate to greener pastures abroad, the Government is in the process of tightening of norms to curb this disturbing trend that has left the Indian medical system ailing. Health Minister Ghulam Nabi Azad on Monday said that the Ministry is working to make the laws stringent wherein any doctor going … Continue reading
The Reserve Army of Unemployed | 35,000 chase 1,000 jobs at Range Rover
The stark health of the UK jobs market has been highlighted after a car chief revealed his company had seen an avalanche of applications for 1,000 vacancies in only a few weeks. Jaguar Land Rover announced last month that it needed 1,000 more workers at its factory at Halewood, Merseyside, to cope with a surge … Continue reading
LinkedIn | India just behind the United States
Social networking site LinkedIn’s Indian user base has grown 300% in the three years it has had a marketing presence in India. The firm, today, has about 14 million users from India, which has quickly become its second-largest market globally, bigger than China and only behind the United States, according to Jeff Weiner, LinkedIn’s chief … Continue reading
A strong Euro | Is it only pride with prejudice ?
Why the Euro is kept too stong and is not at par with the U.S. $. Is it only a question of pride, with its immense prejudice in human terms ?
Cummins expands and will add 290 jobs
Engine maker Cummins Inc. announced Tuesday it would spend nearly $220 million to expand a southern Indiana facility and potentially add 290 jobs in the next few years. Cummins officials said the company plans to build a new assembly line, warehouse, office building and engineering and testing facilities at its Seymour plant because it expects … Continue reading
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