Job Market Monitor
Business
Time Inc / Layoffs may hit sooner and harder than expected
Layoffs at the U.S. magazine publisher Time Inc. may hit sooner and harder than expected, according to reports. On Tuesday, the New York Post reported that almost 500 people, or about 6 percent of the company’s workforce, could be affected by the staff cuts. Women’s Wear Daily, meanwhile, reported that the layoffs could come as … Continue reading
Wärtsilä / To Cut 1,000 Jobs
Wärtsilä Oyj, the Finnish engine maker in the spotlight after Rolls-Royce discussed acquiring the company, said on Wednesday it plans to eliminate 1,000 jobs, or roughly 5% of its workforce, in response to intense competition and a slow-growth business environment. The move, intended to save €60 million in annual costs, came as the company posted … Continue reading
Nordea Bank AB (NDA) / 2,500 jobs cut is not enough
Nordea Bank AB (NDA) will need to cut more than the 2,500 jobs already axed to adjust to slow growth, as Scandinavia’s biggest bank focuses on increasing rewards to shareholders, Chief Executive Officer Christian Clausen said. “Exactly how we’re going to do this thing is not that clear,” Clausen said today in an interview in … Continue reading
Airbus / To cut 5,291 jobs in Germany
Airbus Group (AIR.PA) has told its unions it will shed the equivalent of 5,291 jobs as part of a restructuring of its defense and space activities, with the axe falling most heavily in Germany, a union source said on Monday Continue reading
Rabobank / To cut up to 2,000 jobs in Netherlands
Rabobank Group, a Dutch lender, is planning to cut between 1,000 and 2,000 jobs in the next several years, as part of a strategy to trim down costs by 2016. Rabobank CEO Ralf Dekker was quoted by NL Times as saying “Operating from within a central organization with lower overhead, makes it better, faster, and … Continue reading
Layoffs in Pharmaceuticals / The top 10 largest in 2013
The patent cliff is often the big culprit. One might think that a one-to-one relationship could be graphed between what is happening with the patent cliff and layoffs, but that is not the case Continue reading
Lloyds / To cut 1,080 jobs
Lloyds Banking Group plans to axe 1,080 jobs and outsource more than 310 roles as part of a continuing overhaul of the business Continue reading
Wal-Mart’s Sam’s Club / To cuts 2,300 jobs
Wal-Mart Stores Inc (WMT.N) said on Friday it had cut 2,300 jobs, or roughly 2 percent of the total workforce at its Sam’s Club retail warehouse chain, its biggest round of layoffs since 2010. The action follows a lackluster U.S. holiday season and layoffs announced earlier this month from U.S. retailers Macy’s Inc (M.N), J.C. … Continue reading
IMF / ‘Jobs and Growth: Supporting the European Recovery’ to be launched in Brussels, Belgium on January 28
IMF Managing Director Christine Lagarde will introduce the session, followed by comments from Wolfgang Schäuble, Finance Minister of Germany, and Luis de Guindos, Minister of Economy and Competitiveness of Spain. The event will be chaired by Fabian Zuleeg, Chief Executive of the European Policy Centre Continue reading
Target / To layoff 475 employees and leave another 700 positions unfilled
Target Corp. is cutting jobs at its headquarters and around the globe following a weak holiday season and a costly data breach that affected up to 110 million customers. Minneapolis-based Target (NYSE: TGT) will lay off 475 employees worldwide, the company told workers Wednesday. The company will leave another 700 positions unfilled. “Target continually assesses … Continue reading
PSA Peugeot-Citroen in France / To cut another 1500 jobs
According to a union leader, PSA Peugeot-Citroen is considering cutting an additional 1,500 jobs in France in the face of continued production overcapacity. The cuts would come on top of the 11,200 French positions to be eliminated by PSA by 2015 under its current restructuring plan, according to the union official. “Our sources internally are … Continue reading
Amazon Tops in US / 16,100 IT jobs posted last year
The employer with the most IT job postings last year was Amazon.com, with 16,146 ads, exceeding most other IT firms by a wide margin, according to a new report. The three top runners-up in 2013 U.S. job postings were Accenture, at 14,240 and Deloitte, at 13,077 job ads, according to CompTIA’s annual IT Industry Outlook … Continue reading
IBM / Planning layoffs in March
IBM plans to rebalance its workforce — corporate code for layoffs — in the first quarter, said Martin Schroeter, the company’s chief financial officer, during a conference call with analysts Tuesday. The announcement comes as the company deals with a deepening slump in its hardware division, which includes manufacturing operations in Dutchess County. Schroeter, who … Continue reading
Bombardier / Laying off 1,700 mostly around Montreal
Bombardier plans to lay off 1,700 workers from its aerospace division, mostly around Montreal. The layoffs represent 6 per cent of the Bombardier Aerospace work force. The move comes just days after Montreal-based Bombardier Aerospace announced another delay in its C Series all-new jet program. The manufacturer has also experienced delays in the launch of … Continue reading
Intel / To cut 5% or 5 000 jobs
Intel Corp. INTC -2.60% , on the heels of reporting a lower-than-expected fourth-quarter profit, on Friday said it expects to reduce its workforce by about 5% this year. The big chip maker ended 2013 with 107,600 employees, indicating that the cuts could affect close to 5,400 workers. Intel on Thursday projected flat revenue for 2014, … Continue reading
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