Job Market Monitor
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France / Michelin cuts 700 jobs
Michelin is cutting just over 700 jobs at its Joué-lès-Tours plant in the Loire region of France. It is the latest car industry manufacturer to respond to the European downturn with layoffs. The news was not received well at the factory, which makes tyres for lorries. Patrick Fontaine, a 36-year veteran at the plant, wept … Continue reading
India / SMEs employ close to 40% of workforce, but contribute only 17% to GDP
Small and medium enterprises (SMEs) have been the backbone of the Indian economy. That is both a good and a bad thing. The good part first. Employing close to 40% of India’s workforce and contributing 45% to India’s manufacturing output, SMEs play a critical role in generating millions of jobs, especially at the low-skill level. … Continue reading
Mobile Ad Companies / As many as 1,000 Layoffs
All those venture capitalists pouring money into mobile advertising startups might want to ask themselves why there have been as many as 1,000 layoffs at mobile ad companies and marketers this year. The mobile advertising business will grow to an estimated $7.29 billion in 2013, according to eMarketer. But the rising tide isn’t lifting all … Continue reading
Myanmar / Coca-Cola plant to create 22,000 jobs
For the first time in more than 60 years, Coca-Cola is being bottled in Myanmar. Muhtar Kent, chairman and CEO of The Coca-Cola Company, attended the ceremonial inauguration of a bottling plant in Crystal Springs, Hmawbi Township. The facility is the first to locally bottle Coca-Cola since the company re-entered Myanmar last year, says a … Continue reading
Billabong / More Layoffs to come ?
In more Billabong news, several senior Billabong employees in the Americas were laid off today, including well-known sales executives. Names on the list include retailer favorites Jeff Booth, Men’s National Sales Manager, Angi Broberg, Billabong Girls National Sales Manager, and Royce Cansler, who handled surf retail relations. Royce Cansler, Jeff Booth, George Karamitos of Maui … Continue reading
Games / Zynga Cuts 520 Jobs
Zynga Inc. (ZNGA), the biggest maker of online social games, said it will cut 520 jobs, or 18 percent of its staff, and close some offices amid disappointing results from its titles outside the “FarmVille” series. The reductions will save about $70 million to $80 million in pretax expenses annually, the San Francisco-based company said … Continue reading
Reshoring in the US / 11 Companies That Brought Jobs Back Home
over 50,000 jobs have been “reshored,” as it’s called, in the past three years, according to Harry Moser, president of the Reshoring Initiative, a non-profit dedicated to showing some U.S. companies the benefits of doing business at home. He says altruism has little to do with why most companies end up returning manufacturing to the … Continue reading
Panasonic / To cut 5,000 jobs
In a drive to improve profits, Panasonic has announced plans to cut 5,000 jobs over the next three years. The cutbacks will hit its automotive and industrial unit, which accounts for about a third of the company’s workforce, the Nikkei reported Thursday, citing a Panasonic executive. “A reduction in labor costs will be a big … Continue reading
Sibanye Gold / To Cut 1,110 Jobs
Sibanye Gold Ltd. (SGL), South Africa’s second-biggest producer of the metal, will cuts 1,110 positions at its Beatrix West mine in South Africa, fewer than first proposed, in a bid to return the operation to profit. The company will stop development at the mine, resulting in 330 job cuts and an additional reduction of 780 … Continue reading
US / Small Businesses Net Hiring Still Negative and Droping
More U.S. small-business owners report letting employees go than hiring them on average over the past year, for a net hiring index of -12 in April, according to the Wells Fargo/Gallup Small Business Index survey. This is on par with -10 in January and -9 in April 2012. These results are from the quarterly Wells … Continue reading
China / Motorola confirms further staff layoffs
Motorola Mobility China confirmed Tuesday that it is carrying out a second round of massive layoffs, a further move to cut its workforce since Google Inc acquired its parent company Motorola Mobility for $12.5 billion last year. According to telecommunications industry website ccidcom.com, the US-based company is planning to cut 800 jobs in China, with … Continue reading
UK / Banks employment to 9yr low
Britain’s four biggest banks will have cut a quarter of their staff worldwide by the end of this year from peak staffing levels of 2008. Thousands of jobs are targeted as British banks centered in LIBOR rigging and insurance mis-selling scandals continue to cut costs. Royal Bank of Scotland, HSBC, Lloyds and Barclays will employ … Continue reading
US / Job Creation Under The Last 5 Presidents
This graph shows the change in private sector payroll jobs from when each president took office until the end of their term(s). President George H.W. Bush only served one term, and President Obama has just started his second term. Mr. G.W. Bush (red) took office following the bursting of the stock market bubble, and left during the bursting of … Continue reading
Rio Tinto / At least 230 jobs in jeopardy in Sorel-Tracy
At least 230 jobs are on the line at Rio Tinto Iron & Titanium in Sorel-Tracy. The company’s management met with the union this week to present a restructuring plan that could result in significant job losses. The plan foresees cutting 75 jobs at the Montérégie-region plant between now and September, with another 155 cuts … Continue reading
Casino / Australia / Job cuts at Crown
The $9.35 billion casino company Crown has confirmed rumours of job cuts, as Victoria’s largest single-site, private-sector employer seeks a slice of the Sydney casino market. Sources close to Crown said redundancies were on the way for administration, marketing and back-office staff. It is believed the job losses are triggered by a desire to cut … Continue reading
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