Job Market Monitor
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Allstate / To Cut 379 Jobs and Close Call Center
Allstate Corp. (ALL), the largest publicly traded U.S. home and auto insurer, said it will cut about 379 employees next month, or about 1 percent of its workforce, by closing a call center in Woodridge, Illinois Continue reading
Indiana / St. Vincent Health laying off 865
Indiana – St. Vincent, a Roman Catholic provider and part of St. Louis-based Ascension Health Alliance, announced it would cut 865 jobs Continue reading
Ulster Bank / To cut up to 1,800 jobs
Royal Bank of Scotland’s troubled Ulster Bank arm announced up to another 1,800 job cuts and around 40 branch closures under plans to return it to profit within the next three years Continue reading
PSA-Peugeot-Citroen Offshoring / A 3rd China plant
PSA/Peugeot-Citroen opens a third assembly plant in China today, expanding in the world’s largest vehicle market even as a slump in European demand prompts it to cut jobs at home Continue reading
India / Food Corporation hiring 7,000
Food Corporation of India (FCI) is on a hiring spree as it plans to recruit 7,000 in order to gear up for implementation of proposed Food Security Act, after hiring about 3,800 employees. “This is a massive recruitment drive undertaken by the FCI,” state-run FCI Executive Director (Personnel) D V Devinder Kumar Bhalla today said … Continue reading
UK / Financial services shed 10,000 jobs in three months
The financial services sector is thought to have shed 10,000 jobs in the three months to June despite strong growth in business volumes, the CBI employers’ group and PwC have reported. The industry expects to create 1,000 jobs in the next quarter, according to the latest survey of 94 companies by the CBI and PwC, … Continue reading
US Medical Device / Widespread Layoffs Leave Med Tech Shaky
Sizable layoffs this year from the likes of Medtronic, Boston Scientific, and Abbott Vascular, among others, have undeniably rattled the medical device industry Continue reading
US / When will the unemployment rate fall to 6.5% (the Fed’s threshold)
When will the unemployment rate fall to 6.5% (the Fed’s threshold, but not trigger, for raising the Fed’s funds rate)? If the participation rate stays steady, the unemployment rate will fall to 6.5% in December 2014 if the economy adds around 185,000 jobs per month. This is consistent with the Fed not raising rates until 2015 … Continue reading
EU Staff / 2,500 jobs to go in austerity deal
Two thousand five hundred EU officials are set to lose their jobs in the next four years as part of new austerity measures for EU institutions Continue reading
Siemens / To cut 1,700 jobs
Siemens is expected to cut around 1,700 jobs in the restructuring of its energy business Continue reading
Australia / About 7000 mining jobs gone
ABOUT 7000 jobs have been lost from Queensland’s coal sector in the past 15 months, according to the industry Continue reading
UK / Barclays To Offshore 4,000 Jobs
Barclays Plc is planning to move 4,000 jobs to low cost locations overseas by 2015 to cut costs Continue reading
US / A new labor market indicator: the threshold of initial jobless claims
The paper introduces a new labor market indicator, referred to as the threshold of initial jobless claims, that serves as a benchmark of comparison for the weekly reporting of initial jobless claims. The presented threshold is an improvement over a commonly used rule of thumb in relating initial claims to the upcoming employment report Continue reading
Offshoring / Bank of America Moving Home Mortgage Jobs To India
Bank of America (BAC) opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost Continue reading
Australia / WesTrac cuts 350 jobs
HEAVY machinery dealer WesTrac is cutting 350 jobs as part of a restructure in response to weaker demand from the resources industry Continue reading
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