Job Market Monitor
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Stora Enso Oyj / Cuts 2,500 Jobs
Stora Enso Oyj (STERV) will cut about 2,500 additional jobs, or 9 percent of its total, as Chief Executive Officer Jouko Karvinen reshapes Europe’s biggest papermaker amid shrinking markets for printed media. The reductions announced today don’t include any capacity cuts, the Helsinki-based company said in a statement today. The measures to simplify and streamline … Continue reading
OneWest / To lay off 725 in Austin
Pasadena, California-based OneWest Bank will lay off 725 workers in Austin, according to a Worker Adjustment and Retraining Notification Act filing with the Texas Workforce Commission. The layoffs will take place through August 31, 2013, and will affect mostly call center workers. The move is the second-largest layoff in Texas this year, according to the … Continue reading
Commerzbank / To cut thousands of jobs worldwide
Germany’s second biggest lender, Commerzbank, has struck a deal with the staff council about planned layoffs. The cuts are to lay the ground for a profitable retail banking business. Germany’s partly state-owned Commerzbank has reached a deal with its staff council to cut 5,000 jobs globally, the business newspaper “Handelsblatt” reported Tuesday. The lender warned … Continue reading
Symantec / Cutting Up to 1,700 Jobs
Security software company Symantec may lay off as many as 1,700 employees as early as today, sources familiar with the company’s plans tell AllThingsD. The cuts are part of a company-wide reorganization first announced in January as part of a turnaround plan instituted by Steve Bennett, Symantec’s new CEO, who joined the company 11 months … Continue reading
Bombardier / To cut more than 1,400 jobs at its railcar plant in Derby, England
Siemens AG, Europe’s largest engineering company, sealed a $2.5 billion contract to provide carriages for a London rail link, beating Bombardier Inc., which is cutting jobs at its plant in England. The order to provide 1,140 new carriages for use on the Thameslink line will be awarded to a consortium led by Munich-based Siemens, the … Continue reading
China / Manufacturing offshoring creates win-win situation
Chinese manufacturers that set up factories in the United States could help create local jobs and win-win situation for the world’s two largest economies, two US mayors said on Wednesday. The genuine dialogue of doing business between the United States and China “has to happen on the local level,” Sheldon Day, mayor of Thomasville City, … Continue reading
US / Chinese imports and technological change destroying American manufacturing jobs finds NBER
Foreign competition and technological change might seem like twin juggernauts, destroying American manufacturing jobs in much the same way. In fact, they’re quite different. Foreign competition from China can be like a tornado, devastating US manufacturing in concentrated fashion but in limited areas around the country, according to a new study from the National Bureau … Continue reading
RBS / To axe 2,000 jobs in investment bank
Royal Bank of Scotland (RBS.L) said on Thursday it would cut jobs in a restructuring of its investment bank, which a source familiar with the matter said would see about 2,000 jobs go. Chosen excerpts by Job Market Monitor via RBS axes 2,000 jobs in shake up of investment bank | Reuters.
IBM / Starts to Cut Jobs Amid Global Reduction
International Business Machines Corp. (IBM), the world’s largest computer-services provider, began cutting U.S. jobs today as part of a global restructuring plan announced in April, a person familiar with the move said. The reduction targets employees with a range of seniority, from rank-and-file staff to executives, said the person, who asked not to be named … Continue reading
Renewables sector employs 5.7 million people globally
New reports confirm renewable energy market stalled last year as technology costs fell, but emerging economies promise to drive growth The UN Environment Programme (UNEP) has today confirmed global investment in renewable energy slowed down last year, even as deployment in key technologies and markets continued to accelerate. The agency has this afternoon published two … Continue reading
Greece / State TV shutdown – 2 500 jobs cut
Greece’s government faced an internal revolt and public outrage on Wednesday over the sudden closure of state broadcaster ERT, hours after the humiliation of seeing its bourse downgraded to emerging market status. The twin setbacks, coupled with the derailing of a troubled privatisation programme, reversed a rise in investor confidence that had prompted Prime Minister … Continue reading
‘PBS NewsHour’ to cut jobs
The “PBS NewsHour,” the signature nightly newscast on public television, is planning its first significant round of layoffs in nearly two decades. Facing a multimillion-dollar shortfall in the program’s budget, the show’s producer, MacNeil/Lehrer Productions, will close its two offices outside of the Washington, D.C., area — in Denver and San Francisco — and lay … Continue reading
Siemens / To cut 1,000 energy jobs in Europe and Asia
German engineering giant Siemens plans to cut 1,000 more domestic jobs at its energy division over the next few years, the Frankfurter Allgemeine Zeitung reported in its Tuesday edition. The company plans to initially cut 340 jobs in its energy-solutions unit in Erlangen and Offenbach, the daily newspaper said. “Siemens is thus reacting to the … Continue reading
It is not the economy stupid! Spanish and Italians CEOs Best Paid in Euro Zone
Despite posting record unemployment figures in the first quarter of this year, Spain and Italy’s CEOs are the best paid in the euro zone, according to a new report. The annual Pay in Europe survey from The Federation of European Employers revealed that an Italian CEO of a multinational company could receive up to €1,144 … Continue reading
President Obama / Call for a Living Wage
“And now is the time to make sure that we are putting in place a minimum wage that you can live on — (applause) — because 60 percent of those making the minimum wage are women.” President Obama’s call for the minimum wage to be increased to a living wage was very important. The living … Continue reading
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