Job Market Monitor
Business
US / Government-financed jobs account for more than 25 percent of nonfarm payroll jobs in seven states
In 2012, public-sector employment made up more than 16 percent of the US labor market. Direct government employment fails to capture the full impact of government spending on state labor markets Continue reading
Qantas / To slash 1,000 jobs
Lower demand, a strong Australian dollar and steep fuel costs have put pressure on the airline and Qantas said conditions were expected to remain volatile next year. The airline expects to post pre-tax losses of between 250 million (£138m) and 300 million dollars (£165.5m) for the six months to December 31. Qantas is trying to … Continue reading
Sun Media / 200 new layoffs
In the third round of layoffs in the past 13 months, Sun Media Corp. is eliminating 200 positions across the newspaper chain. About a quarter of the jobs will be cut from editorial, in what the corporation called a “response to the impact of digital.” As readers turn to digital media, newspapers have had difficulty … Continue reading
US / No evidence that lowering taxes on corporate profits will lead to more job creation Center for Effective Government finds
22 of the 30 corporations that paid the highest tax rates (30 percent or more) on their reported profits created almost 200,000 jobs between 2008 and 2012. Only eight of the 30 firms paying high tax rates reported reducing the number of employees between 2008 and 2012 Continue reading
Hewlett-Packard in UK / To cut 1,124 jobs says union
U.S. IT group Hewlett-Packard Co is set to cut 1,124 jobs in Britain at the start of next year, the Unite union said on Wednesday. Unite said it had attended a meeting where managers were outlining their plans to cut jobs at the group’s sites in Bracknell, Sheffield and Warrington in the first three months … Continue reading
Achmea / The biggest dutch insurer to cut 4,000 jobs over three years
The mutual insurer, which offers health care, property and casualty, pensions and life insurance, expects to cut 4,000 jobs of 19,000 employees in the Netherlands and other countries, the Zeist-based company said in a statement today. Compulsory job losses can’t be ruled out, it said. The cuts are in addition to a program announced in … Continue reading
US / 215,000 private sector jobs added in November says ADP
U.S. private employers added 215,000 jobs in November, topping economists\’ expectations, a report by a payrolls processor showed on Wednesday, reinforcing expectations the Federal Reserve may soon begin to wind down its asset purchases. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 173,000 jobs. The high end … Continue reading
Realty sector In India / 18-20% job losses in 12 months
Slower pace of approvals has broken the cycle of sales and cash flow, ultimately resulting in job losses Continue reading
Potash Corp. / To Cut Over 1,000 Jobs
Potash Corp. of Saskatchewan Inc. (POT) said Tuesday it will cut about 18% of its workforce, or more than 1,000 jobs, as it continues to grapple with slumping demand for potash and phosphate, two key fertilizer ingredients Continue reading
Forest Labs / To cut jobs to save $110 million
Forest Laboratories says it plans to cut jobs as part of a plan to trim $500 million in costs over the next two years, and will buy back at least $400 million in company stock to boost shareholder returns Continue reading
Deutsche Telekom / To cut up to 6,000 jobs
Deutsche Telekom plans to cut up to 6,000 jobs at its IT services business T-Systems, Handelsblatt newspaper reported on Monday, citing company sources Continue reading
Australia / Rio Tinto suspends Gove production and cut 1 500 jobs
Mining giant Rio Tinto has suspended production at its Gove alumina refinery, in the Northern Territory, as the operation is no longer viable in a low price, high exchange rate environment. Instead, the diversified mining group would shift its focus in the region to its bauxite operations. “This is a very sad day for everyone … Continue reading
UniCredit Bank Austria / To cut up to 850 jobs
UniCredit Bank Austria will cut up to 850 jobs in Austria as part of a plan to slash 130 million euros ($176 million) in administrative costs, it said on Thursday, blaming rising state burdens in a saturated market. Austria\’s bank levy delivers a 97 million euro annual hit and additional costs from new regulatory requirements … Continue reading
UK / Npower to cut 1,400 jobs
Energy giant Npower is to cut 1,400 jobs as part of a major restructuring of its UK operations Continue reading
Post Office in UK / ‘Modernisation’ means 4,000 postmasters face compulsory redundancy says union
Responding to the government statement on funding for Post Office modernisation today (Wednesday) the Communication Workers Union explains that the reality behind the spin is that up to 4,000 postmasters will face compulsory redundancy as a result of being forced to take a cut in pay and conditions or lose their jobs. The Network Transformation … Continue reading
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