Job Market Monitor
Business
UK / Lower-skilled jobs still threatened by outsourcing
Lower-skilled and process-based jobs in the UK remain vulnerable in the face of continued popularity of business process outsourcing (BPO) to central and eastern European countries, according to research published today by professional services firm Towers Watson. The General Industry Compensation Report shows that despite the fast economic development of many countries such as Poland, … Continue reading
US / Vacancies are there, but hiring is not
American employers have a variety of job vacancies, piles of cash and countless well-qualified candidates. But despite a slowly improving economy, many companies remain reluctant to actually hire, stringing job applicants along for weeks or months before they make a decision. If they ever do. The number of job openings has increased to levels not … Continue reading
US / 59% Think the Economy Is In a Recession
The IBD/TIPP Economic Optimism Index declined by 5.1 points, or 10.8%, in March, posting 42.2 vs. 47.3 in February. The index is 5.5 points below its 12-month average of 47.7, 2.2 points below its reading of 44.4 in December 2007 when the economy entered the recession, and 7.5 points below its all-time average of 49.7. … Continue reading
US / Planned layoffs rose for second month in a row
Planned layoffs at companies rose for the second month in a row in February as the financial sector cut the most employees in over a year, a report showed on Thursday. Employers announced 55,356 planned job cuts last month, up nearly 37 percent from 40,430 in January, according to the report from consultants Challenger, Gray … Continue reading
Sweden / Vattenfall to cut 2,500 jobs
Swedish power company Vattenfall has announced it will slash thousands of jobs by 2015, with Germany to be most affected by the cuts. The utility firm said it had to face up to low electricity prices and overcapacities. Swedish utility company Vattenfall on Wednesday said it would have to lay off 2,500 employees by the … Continue reading
Canadian Pacific / Ahead of Schedule on Job-Cut Plan
Canadian Pacific Railway Ltd. (CP), the least efficient North American large railroad, is ahead of its plan to eliminate more than one-fifth of its workforce, Chief Executive Officer Hunter Harrison said. The company already has cut more than 3,000 jobs, Harrison said today at a JPMorgan Chase & Co. transportation conference in New York. He … Continue reading
T-Mobile / Big layoffs to come at headquarters
A significant round of layoffs is happening at the Bellevue headquarters of T-Mobile USA just ahead of its merger with MetroPCS, according to people inside the company. Employees are expecting the cuts, which may affect more than 100 people in marketing and other groups, to happen Thursday, when conference rooms at the company are reserved … Continue reading
Telefonica Brasil / To cut 1,000 jobs
Telefonica Brasil SA has opened a voluntary buyout program to cut 1,000 jobs, a union said on Wednesday, as the Brazilian phone company works to keep down costs and overhaul its flagging fixed-line operations. The Brazilian unit of Spain’s Telefonica said it was carrying out an “administrative reorganization to maintain competitiveness,” according to a press … Continue reading
Saudi Arabia / Half of firms not hiring enough nationals
Almost half of all companies in Saudi Arabia are failing to comply with rules on employment of citizens, a source at the kingdom’s Ministry of Labour was quoted as saying. Speaking to English language Arab News, the source said 48 percent of 248,828 firms based in the Gulf Arab state are currently classified in the … Continue reading
UK / Jaguar Land Rover to create 700 new jobs
Jaguar Land Rover is to invest a further £150m to double the size of its unfinished engine plant in the West Midlands, creating 700 additional jobs. The company aims to raise the eventual number of jobs on the i54 business park on the Staffordshire-Wolverhampton border to more than 1,400. The first engines are scheduled to … Continue reading
US / 5 Myths About the Minimum Wage
Myth #1: Hordes of Minimum-Wage Workers Very few Americans are actually working for the federal minimum wage—it’s just 2.9 percent of all workers in the United States. In other words, 97 percent of American workers make more than minimum wage. Myth #2: The “Working Poor” Getting By on Minimum Wage More than half of minimum-wage … Continue reading
India / 14 mn jobs lost in agriculture and 5 mn in manufacturing jobs between 2005 and 2010
As many as 14.08 million jobs were lost in the five-year period ended in 2009-10 in the agriculture sector which engages almost 60 per cent of the workforce in the country. The job losses in the manufacturing sector during the five year period from 2004-05 to 2009-10 was 5.03 million as per the draft 12th … Continue reading
US Insurance Industry / 16,000 Jobs Open with an Aging Workforce
In a comprehensive survey of 173 insurance companies, including phone interviews with agents and brokers, third party administrators and managing general agents, GreatInsuranceJobs.com reports 16,000 open and available jobs across the nation in the insurance industry. On top of that, the survey projected an additional 23,000 more by the end of this year. The survey … Continue reading
US / General Dynamics: 1,400 layoffs
General Dynamics (GD.N) NASSCO, a primary constructor of ships for the U.S. Navy, warned about 1,040 employees on Monday of indefinite layoffs that may come in late April due to uncertainty created by the automatic U.S. budget cuts that took effect last week. Chosen excerpts by Job Market Monitor via General Dynamics unit, others issue … Continue reading
Toronto Star / To cut 55 jobs for the moment
Economic pressures have prompted the Toronto Star to plan staff cuts of up to five per cent and consider outsourcing the bulk of its page production work, the company announced Monday. Spokesman Bob Hepburn said the country’s largest daily newspaper is currently in discussions to transfer most of its print page design operations to Pagemasters … Continue reading
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