Job Market Monitor
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US – Big Business helps overseas, less so at home Americans think Gallup finds
Americans see large U.S. companies as having a more positive effect overseas than they do domestically. While 66% of Americans believe that large U.S. companies do a good job creating good jobs for citizens in other countries where they do business, far fewer, 43%, say the companies do a good job of creating jobs for … Continue reading
BHP and Rio Tinto in Australian – Further job cuts to come
Mining majors BHP Billiton and Rio Tinto have warned that the Australian mining industry will witness more mine closures and job losses this year due to the combination of high costs, high taxes and strong currency. BHP Billiton global coal president Dean Dalla Valle was quoted by The Sydney Morning Herald as saying that the … Continue reading
Wal-Mart Canada – 750 layoffs
Wal-Mart Canada has confirmed it laid off hundreds of employees across the country earlier this month in a move to rework its management structure. The Arkansas-based retailer said it eliminated 750 jobs — which is says represented less than one per cent of staff — after testing a new management structure in select stores. As … Continue reading
Rogers – Several high-level cuts to come
The new chief executive officer of Rogers Communications Inc. has unveiled a sweeping plan to reset the company’s management structure, fix customer service issues and reignite its growth. Guy Laurence, the British executive who took over as CEO in December, conceded that “we are not on form” as a company, but he said the restructuring … Continue reading
Hewlett-Packard – To cut another 16,000 jobs worldwide
Hewlett-Packard plans to cut as many as 16,000 more jobs as chief executive Meg Whitman intensifies her efforts to turn around the personal computer maker. Whitman, who has already axed 34,000 posts in her two years at the helm, said the fresh job cuts were necessary to streamline the business across its broad portfolio, which … Continue reading
Reshoring in US – Factory jobs returning matched the number lost last year
Although no one keeps precise statistics, the retreat from offshoring is clear from various sources, including federal data on assistance to workers hurt by overseas moves. U.S. factory payrolls have grown for four straight years, with gains totaling about 650,000 jobs. That’s a small fraction of the 6 million lost in the previous decade, but … Continue reading
US Steel Sector – Half a million U.S. jobs which are at risk say the United Steelworkers
United Steelworkers (USW) International President Leo W. Gerard issued the following statement today on the release of a study of the enormous challenges facing the U.S. steel sector from a flood of imports and rising excess global capacity in steel production. The report “Surging Steel Imports Put Up to Half a Million U.S. Jobs at … Continue reading
Qantas – As many as 300 pilots could be laid off
Qantas has started a major pilot redundancy program for the first time in decades that will ultimately target as many as 300 pilots it believes are excess to the financially troubled and shrinking airline’s needs. The company has not specified how many jobs it will target in the first round, but it is believed to … Continue reading
Boston Fed / To cut 160 jobs
The Federal Reserve Bank of Boston will cut nearly 15 percent of its workforce in the next three to four years — the largest layoff at the institution in more than a decade. Last week bank officials informed 160 employees — an entire division — that their jobs would be eliminated because a key customer, … Continue reading
Barclays – To cut 19,000 jobs over three years
As part of a new strategy, the investment part of the bank will lose about 7,000 jobs by the end of 2016. Barclays’ investment bank has been hit by a slowdown in the demand for government and company debt. Barclays will also set up a “bad bank” which will eventually sell or run down £115bn … Continue reading
Canada – Jacob retail chain closing its 92 stores – 2,000 jobs gone
After years of financial struggles, the Jacob retail chain announced Tuesday it is closing its 92 stores across Canada. “It’s a very sad day for retail in Quebec,” said analyst Terry Henderson of J.C. Williams Group. “Joey Basmaji was an icon,’’ he said of the founder of the family-owned fashion chain.Stores will remain open for … Continue reading
Basic Facts About the American Economy and Canada
1) The largest destination for U.S. goods exports is Canada. The second largest is Mexico. China is third. Census 2) We import the most stuff from China. Maybe you did know that. But Canada is second. Census 3) Canada is our largest overall trading partner. We’re just really lucky to have them (and of course … Continue reading
Ashland (maker of Valvoline) – To cut 800 jobs
Covington-based Ashland Inc. announced Wednesday it will reduce its global workforce by 800 employees, or 5 percent by the end of 2014. The jobs eliminations will come through a voluntary severance program or layoffs. Ashland did not disclose the location of the layoffs. The company employs 15,000 workers at 29 manufacturing facilities in 17 countries … Continue reading
US in April – Private-sector employment increased by 220,000 says ADP
Private-sector employment increased by 220,000 from March to April, on a seasonally adjusted basis. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report – April 2014 | NER. Private-sector jobs growth strongest in five months Private-sector hiring picked up in April, with employers adding the most jobs in five months, springing … Continue reading
Barclays – Could cut 7,500 jobs
Barclays Plc (BARC), the U.K.’s second-largest bank by assets, could eliminate 7,500 jobs at its investment bank to improve returns at its securities unit, according to a report by Sanford C. Bernstein. The European fixed-income, currencies and commodities business, or FICC, may be the hardest hit, with about 5,000 job losses, analysts led by Chirantan … Continue reading
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