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Toyota in Australia – To cut 2,600 jobs
Japanese auto major Toyota Motor Corp. (TM: Quote) Wednesday said its production and sales subsidiary in Australia, Toyota Motor Corp. Australia Ltd. or TMCA, would consolidate its corporate functions in Melbourne, that will lead to closure of operations in Sydney. Toyota Motor noted that TMCA’s new business structure will be from 2018 onward. According to … Continue reading
ADP US National Employment Report, November 2014 – 208,000 jobs in the private sector
Private sector employment increased by 208,000 jobs from October to November according to the November ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, … Continue reading
Hewlett-Packard (HP) – More layoffs to come
HP has laid off 41,000 people (with about 9,000 people left to go) under its current downsizing plan for 2014. On Tuesday, the company hinted that more layoffs could be coming with its plans to separate itself into two huge companies. During its quarterly conference call, Wall Street analysts asked for details about HP’s plans … Continue reading
Korea – Government to ease rules for layoffs
The government is considering easing rules for layoffs and overhauling pay systems to ease the plight of non-regular workers. Since any changes are likely to come at the cost of regular workers’ rights, it will certainly entail a major union backlash. “Without reform in the labor market, it isn’t easy to continue creating decent jobs. … Continue reading
Peugeot in France – To cut 3,450 jobs in 2015
PSA Peugeot Citroen (PEUP.PA) is preparing to cut another 3,450 French jobs next year as the troubled carmaker pursues a recovery plan under new Chief Executive Carlos Tavares, two sources with knowledge of the matter said. The cuts, to be achieved through a combination of early retirements, voluntary buyouts and internal transfers, will be presented … Continue reading
Federal Taxes, 2011 in US – Average tax rates by quintile goes from 11 percent to 23 percent CBO finds
In 2011, according to CBO’s estimates, average household market income—a comprehensive income measure that consists of labor income, business income, capital income (including capital gains), and retirement income—was approximately $81,000. Government transfers, which include benefits from programs such as Social Security, Medicare, and unemployment insurance, averaged approximately $13,000 per household. The sum of those two … Continue reading
Minimum wage hike in New Brunswick – May cause layoffs says the Canadian Federation of Independent Business
An upcoming increase to the minimum wage in New Brunswick may force business owners to reduce hours or lay off employees, according to the Canadian Federation of Independent Business. “Businesses in New Brunswick right now are not exactly rolling in dough and they have to make some very ugly choices,” said Dan Kelly, the CFIB’s … Continue reading
ABN Amro – To cut up to 1,000 jobs
ABN Amro Group NV, the state-owned Dutch lender preparing for a share sale next year, will cut as many as 1,000 jobs by 2018 and shrink its branch network as customers move to banking on their phones. via ABN Amro to Cut Up to 1,000 Jobs in Consumer Bank by 2018 – Bloomberg.
Philadelphia Fed on Labor Market – Significant progress has been made
Last week’s employment numbers showed employers adding 214,000 jobs in October. Revisions for September and August added 31,000 more jobs than originally estimated. Interestingly, what we once thought was a weak jobs report for August now shows we added 203,000 jobs, which means that we have had nine months of job growth above 200,000 for … Continue reading
JPMorgan – To cuts 8,000 more mortgage and card jobs
JPMorgan Chase & Co. expects to eliminate 8,000 more jobs this year in mortgage and community banking than it forecast 20 months ago as profit and revenue from the businesses drop. What’s happened is that refinancing activity has fallen way off as super-low interest rates pulled forward refi demand, and depleted normal rates to come. … Continue reading
Google Hire Spree – 30,000 more workers in California
Google may be on course to expand its already large workforce in the San Francisco area by 30,000 more people. With more and more property being leased and bought, Phil Mahoney, a broker with commercial realty firm Cornish & Carey, said,”I’ve never seen anything like this sort of expansion from any one company.” via Google’s … Continue reading
Mining Supply and Services in Ontario – Sustaining 68,000 direct and indirect jobs study finds
In 2011, Ontario’s mining supply and services sector contributed $3.9 billion to the province’sgross domestic product, and sustained around 68,000 direct and indirect jobs, according to to a new study published by the Canadian Association of Mining Equipment and Services for Export (CAMESE). CAMESE managing director Jon Baird said the study’s finding are historic, because … Continue reading
SNC-Lavalin – To cut 4,000 jobs
SNC-Lavalin Group Inc. is slashing almost 10 per cent of its global workforce and sharply revising downward its 2014 outlook as it exits underperforming businesses and imposes more cost-cutting measures. Montreal-based SNC said Thursday it will over the next 18 months scale back some activities and restructure and streamline some of its operations and corporate … Continue reading
Layoffs in US – Challenger reports employers announced 51,000 layoffs in October, up 68% from September
Announced layoffs swung higher last month, rising to about 51,000 in October, bouncing up from a 14-year low in September, according to data released Thursday by outplacement consultancy Challenger, Gray & Christmas. Led by retail job cuts, October’s announced layoffs were up 68% from 30,000 in September and 12% from 46,000 announced cuts in October … Continue reading
ADP US Employment Report for October 2014 – Private-sector employment increased by 230,000
Private-sector employment increased by 230,000 from September to October, on a seasonally adjusted basis. Highlights Small businesses (1-49 employees) +102,000 Medium businesses (50-499 employees) +122,000 Large businesses (500 or more employees) +5,000 via ADP National Employment Report – October 2014 | NER.
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