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In the News
Offshoring / Bank of America Moving Home Mortgage Jobs To India
Bank of America (BAC) opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost Continue reading
Germany / A call for An United European Labor Market
German Labor Minister Ursula von der Leyen said she’ll push to create a Europe-wide labor market with common training, mutually recognized qualifications and language classes Continue reading
US vs Bangladesh / Sweatshop / Suspension of Preferential Trade Status and Reactions
The U.S. is planning to suspend its preferential trade treatment for Bangladesh. The suspension will begin in about 60 days.
Bangladesh’s foreign ministry has expressed hope that the U.S. will soon restore the country’s trade preferences Continue reading
Australia / WesTrac cuts 350 jobs
HEAVY machinery dealer WesTrac is cutting 350 jobs as part of a restructure in response to weaker demand from the resources industry Continue reading
UK / More than 20,000 of last year’s graduates were unemployed six months after leaving university
More than 20,000 of last year’s graduates were unemployed six months after leaving university Continue reading
Arkansas / Nordex wind turbine plant to stop production and lay off
A $40 million wind turbine factory in northeast Arkansas that opened in 2010 with plans to employ more than 700 people announced Friday it would end production and lay off 40 workers Continue reading
US / A skills Gap ? Most H-1B IT Foreign Workers hold entry-level positions
There is little empirical evidence to suggest that foreign engineers displace American engineers as a whole. If anything, one recent study suggests, the growth of immigrant workers in American companies helps younger American technical workers — more of them are hired and at higher-paying jobs — but has no noticeable consequences, good or bad, on … Continue reading
Turkey / The highest NEET ratio among OECD
Turkey has the highest proportion of young people neither in employment nor in Education or training (NEETs) among Organization for Economic Cooperation and Development countries, according to the OECD Continue reading
Glencore-Xstrata / 450 jobs cut
GLOBAL mining giant Glencore-Xstrata has slashed 450 jobs from two of its central Queensland coal mines Continue reading
India / Providing Skills to 500M in Ten Years
The Finance Minister Shri Chidambaram presents an ambitious target of providing skills to 500 million people in ten years meaning thereby that 50 million people are to be skilled every year, which is a huge challenge in itself Continue reading
Renesas / 1,000 jobs cut in Europe
Renesas Electronics will shed more than a thousand jobs in Europe, including its whole workforce of more than 800 in Finland Continue reading
Nestle / Help for 20,000 young European to find jobs
Nestle, the world’s biggest food company and a major employer in Europe, plans to recruit 20,000 young people as the continent grapples with a youth unemployment crisis that is sapping consumer confidence Continue reading
Rona / Closing 11 stores and cutting 125 jobs
Rona will try to rebuild its profitability by closing 11 stores in two provinces and cutting more administrative jobs Continue reading
Germany / Unemployment Drops in June (Rate at 6.8%)
German unemployment unexpectedly fell in June amid signs a recovery in Europe’s biggest economy is on track even as the euro area struggles to emerge from its longest ever recession Continue reading
US / Jobless claims still going the right way
In the week ending June 22, the advance figure for seasonally adjusted initial claims was 346,000, a decrease of 9,000 from the previous week’s revised figure of 355,000 Continue reading
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