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Volkswagen in China – Aims to create about 5,500 new jobs at its new component plant
Located in the Tianjin Economic Technological Development Area (TEDA) in North-East China, the plant is the 107th of the Volkswagen Group and has been built at an initial investment of 265 million (RMB 2.2 billion) to boost economic activity in Northern China. By 2019, it aims to create about 5,500 new jobs in the region. … Continue reading
Rolls-Royce – To cut 2,600 staff, mostly in the Aerospace division
British engineer Rolls-Royce (RR.L) plans to cut 2,600 jobs to save money and has replaced its finance director, aiming to restore confidence following two profit warnings in eight months. The world’s second-largest maker of aircraft engines said the job cuts, which will mostly come in the Aerospace division and will take 18 months to complete, … Continue reading
Scotiabank – To cut 1,500 jobs
Scotiabank (TSX:BNS) warns that it’s cutting the equivalent of 1,500 jobs companywide – about two-thirds of them in Canada – and taking a number of accounting measures that will cut about $341 million from its profit for the fourth quarter. Despite the magnitude of the announcement, the bank said it remains on track to meet … Continue reading
Sprint – To cut 2000 jobs
Sprint Corp (S.N) announced on Monday it will fire 2,000 employees and it cut its 2014 adjusted earnings forecast as the company attempts to reduce costs and turn around several quarters of losses. The layoffs are expected to lower labor costs by $400 million a year and are the latest job cuts by the third … Continue reading
Lanxess – To cut up to 1,200 jobs
German chemicals maker Lanxess may slash up to 1,200 jobs, or about 7 percent of its total workforce, as part of a group-wide overhaul to counter overcapacity in the synthetic rubber industry, German daily Rheinische Post reported. The world’s largest maker of synthetic rubber plans to offer voluntary redundancy packages and early retirement schemes but … Continue reading
Microsoft – Cuts another 3,000 jobs, reaching almost 18,000 cuts overall
Microsoft this morning cut an additional 3,000 jobs from its workforce around the world, saying it has now completed almost all of the 18,000 job cuts that were announced by CEO Satya Nadella in July. About 638 of the job cuts are in the Seattle region. That brings the regional total to more than 2,700 positions … Continue reading
US – Almost all of the private sector jobs have been created by businesses less than five years ol
Amid the political maneuvering, there is, happily, some serious work being done by the Kauffman Foundation and the Institute for Competitiveness & Prosperity to figure out where new jobs actually do come from. The surprising truth is that over the last twenty five years, almost all of the private sector jobs have been created by … Continue reading
Lloyds Bank – Profits up by 41% and 9,000 layoffs
The Lloyds Bank results are out this morning: Profits in the third quarter are up an impressive 41%, but Britain’s second-biggest bank is laying off 9,000 employees and closing 150 branches. via Analysts On 9,000 Layoffs By Lloyds Bank – Business Insider.
Air France-KLM – To cut 7,500 jobs
The Dutch arm of Air France-KLM (AIRF.PA) plans to cut its workforce by 7,500 jobs, or 25 percent, largely through outsourcing, a Dutch daily newspaper reported on Tuesday. The measure is expected to be announced at the release of quarterly earnings by the French-Dutch carrier on Wednesday, the Algemeen Dagblad said, citing the head of … Continue reading
Kohl’s – 67,000 hirings to come this holiday season
Kohl’s Department Stores of Menominee Falls, Wis. announced it anticipates hiring more than 67,000 associates nationwide this holiday season to support seasonal business in stores and growth on Kohls.com. Chosen excerpts by Job Market Monitor. Read the whole story at Kohl’s plans to hire 67,000 associates this holiday season, averaging 50 per store.
Alitalia – To cut 1,000 jobs
Italy’s largest airline Alitalia could cut up to 1,000 jobs, according to reports this weekend by Italian news agency Adnkronos. The agency cited a document signed by the airline’s management and several unions which states the airline will cut 879 ground crew, 61 pilots and 54 air stewards. The report suggests employees with receive letters of … Continue reading
Canada – The job market is on a weakening trend
Canadian Prime Minister Stephen Harper may be losing one of his political trump cards — his record on the economy — just when he needs it most. Canada’s job growth, among the strongest in the industrialized world after the global recession, has slowed by about half one year before the country’s next election, even as … Continue reading
US – For years, the fast food industry has created jobs at a faster rate than the rest of the economy
Since the recession ended, we’ve seen a troublingly uneven recovery, in which many of the middle-income jobs lost from 2008 to 2010 have been replaced by low-wage jobs. And fast food jobs are a large reason why, outpacing the country’s overall job growth. “Fast food is driving the bulk of the job growth at the … Continue reading
Sears – Report of layoffs by Seeking Alpha disputed
A published report Thursday said Sears Holdings is laying off about 6,000 workers as it closes 110 stores within the next few months, many before Christmas, according to Seeking Alpha, a content service for financial markets… Spokesman Howard Riefs said “the reported store count and list of closures isn’t accurate.” He specified that one of … Continue reading
Canada – The top-ranked entrepreneurial communities in 2014
Historically, and for a variety of reasons, CFIB has found entrepreneurial characteristics to be strongest in Canada’s prairie cities and the urban areas that ring large urban cores. What they have in common is ‘newness’—the prairie economies have only been developed in the past 150 years or so. Only a few generations separate today’s urban … Continue reading
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