Job Market Monitor
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Haier Group – 26,000 Layoffs in two years
China based Haier, maker of appliances and consumer electronics, started 2013 with 86,000 employees worldwide, but that number is likely to be about 60,000 by the end of 2014. Most of those layoffs have already happened. The company laid off 16,000 workers in 2013, and by the end of May 2014 the number was at … Continue reading
Hydro-Quebec – To cut hundreds of jobs
Hydro-Quebec, Canadas largest power utility, will eliminate hundreds of positions this year as the province looks to trim $2.7 billion in spending, QMI Agency has learned. The Crown corporation had already announced a series of buyouts but QMI has learned that the early retirements wont be enough to meet job-cutting targets. The Montreal-based utility was … Continue reading
ADP Job Report in US – Business Report and National Franchise Report will be issued together at 8:15 a.m. ET
ADP, a leading global provider of Human Capital Management solutions, will now issue the new ADP Small Business Report and the ADP National Franchise Report as separate monthly reports on the same day it issues the ADP National Employment Report. All three reports will be issued at 8:15 a.m. ET. This change will take effect … Continue reading
US – The 2009 Recovery Act directly created and saved jobs primarily in government finds St. Louis Fed
Over one-half of the fiscal spending component of the American Recovery and Reinvestment Act ARRA; i.e., the Recovery Act was allocated via grants, loans, and contracts. Businesses, nonprofits, and nonfederal government agencies that received this type of stimulus funding were required to report the number of jobs directly created and saved as a result of … Continue reading
Morrisons (UK) – To cut 2,600 jobs
UK supermarket chain Morrisons plans to cut 2,600 jobs as a result of changes to its management structure. The firm, which has 126,000 staff, will reduce layers of management, it said. Dalton Philips, Morrisons’ chief executive, said the changes would “lead to simpler, smarter ways of working”. The former chairman, Sir Ken Morrison, told the … Continue reading
Avtovaz (Russia largest carmaker) – To cut 13,000 job
Russias largest carmaker, AvtoVAZ, said on Friday it expects to cut 13,000 staff – more than previously indicated – at its Togliatti plant due to falling sales of its flagship Lada. Avtovaz slumped to a loss last year, and recently appointed CEO Bo Andersson is battling to revive business in a touch economic environment amid … Continue reading
Job Openings in US – Return to prerecession levels
The number of job openings in the U.S. economy climbed to the highest level in seven years, becoming the latest labor-market gauge to recover ground lost during the recession.Job openings rose to 4.5 million in April, according to the Labor Departments job-openings and labor-turnover survey. The rate of job openings rose to 3.1% in April … Continue reading
Bouygues Telecom – To cut 1,500 jobs
Bouygues Telecom, France’s third-largest mobile operator by subscribers, plans to slash more than 15 per cent of its 9,000-strong workforce to stay alive in one of Europe’s most competitive markets. via Bouygues Telecom to cut 1,500 jobs in fight for survival – FT.com.
ICICI Bank – To cut 1,200 jobs
ICICI Bank, the countrys largest private sector lender by assets, has let go 1,200 of its staffers, and a few hundred may be on their way out as part of an exercise to cut flab, two people familiar with the development said. The retrenchment of staff across the board – from general managers to junior … Continue reading
Australia – 900 jobs cut at postal service
Australia Post has told its workers 900 jobs will go as part of a restructure that will split its post and parcel businesses.Australia Post has confirmed 900 jobs will be cut in the restructure. As fewer people post letters, and losses in that part of the business mount, the Government-owned company is planning to operate … Continue reading
US – The Job Gap is still near 7.0 million
Furthermore, it is an utterly meaningless benchmark economically. Because the working-age population and with it, the potential labor force is growing all the time, we should have added millions of jobs over the last six-plus years just to hold steady. That means that when we get back to the prerecession employment level, there will still be a … Continue reading
Barclays / Hundreds investment bank jobs cut this week
Barclays Plc has this week cut several hundred jobs in its investment bank as part of its plan to shrink the business by 7,000 staff over the next three years to save costs, people familiar with the matter said. The cuts will mostly be in the fixed income, currencies and commodities FICC trading and markets … Continue reading
Siemens-Unify – To cut 3,800 jobs
Unify – formerly Siemens Enterprise Communications – is cutting its workforce in half to focus on software over hardware. The vendor is slashing 3,800 jobs from its global headcount of nearly 7,700. Central Europe will be the worst hit, accounting for 50 percent of the cuts, according to a statement from the company. “This transformation is … Continue reading
Alitalia – Up to 2,500 layoffs expected says Italian Labor Minister Giuliano Poletti
Between 2,400 and 2,500 layoffs are expected at Italian flag carrier Alitalia once a major investment deal has been made final with Etihad Airways, Italian Labor Minister Giuliano Poletti said Tuesday. “At least with regard to those in the public sector. Then we will have to see, once there is substantial discussion between the two … Continue reading
Siemens – To cut 11,600 jobs but CEO calls job cut reports incorrect
German industrial giant Siemens plans to eliminate around 11,600 jobs around the world as part of a major restructuring, a company spokesman says. “These jobs will be cut,” the spokesman told AFP on Friday, confirming remarks made by chief executive Joe Kaeser to a conference of investors and analysts in New York on Thursday. The … Continue reading
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