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Royal DSM – To cut as many as 1100 jobs by 2017
Royal DSM will make up to 1100 staff redundant by the end of 2017 in a reorganisation designed to cut the cost of running its pharma, nutrition and materials sciences businesses. The Dutch supplier announced the planned job cuts today, explaining that the move is designed to save it €125m to €150m ($144m to $173m) … Continue reading
Boeing Satellite Business – To cut hundreds of jobs
Boeing Co. said Monday it had started issuing notices for what could be hundreds of layoffs at its satellite business, a move it blamed partly on the stalled reauthorization of the U.S. Export-Import Bank, which supports many of its sales. The aerospace giant expects to lay off “several hundred” workers over the coming months and … Continue reading
Daimler – 1,500 jobs cut in Brazil
Daimler AG is eliminating 1,500 jobs at its Brazilian truckmaking division as demand for commercial vehicles in the country shows no signs of recovery. Workforce cuts became inevitable after industrywide truck sales in Brazil, South America’s largest economy, plunged 44 percent in the first half of 2015, compounding a decline last year, said Florian Martens, … Continue reading
Merck – Near 7,290 positions eliminated
Pharmaceutical giant Merck & Co. (MRK) has slashed more than 85 percent of the positions targeted for elimination under its 2013 restructuring plan, Gen News reported this morning. Merck has eliminated “approximately 7,290 positions” since the restructuring plan was announced, the company said in its 10-Qc filing. The positions include full-time employees, independent contractors and … Continue reading
HTC – To cut 2,300 jobs
Struggling HTC is cutting 15% of its work force in an attempt to cut costs and revive its ailing smartphone business. The Taiwanese company announced the layoffs on Thursday, after its second quarter earnings took a dive, for a $257 million loss. HTC declined to mention the exact number of layoffs. But as of … Continue reading
Lenovo – 3,200 jobs cut
China’s Lenovo Group, the world’s biggest personal computer maker will lay off about 3,200 workers after profits more than halved in the second quarter of 2015, the company announced on Thursday, becoming the first Chinese firm to slash jobs. The job cut, which will be conducted in the company’s non-manufacturing work force, accounts for about … Continue reading
Barclays – To cut more than 30,000 jobs. Yes or no ?
Barclays Plc plans to cut more than 30,000 jobs within two years after firing Chief Executive Antony Jenkins this month, The Times reported on Sunday. This redundancy program, which could reduce the bank’s global workforce below 100,000 by 2017 end, is considered as the only way to address the bank’s chronic underperformance and double its … Continue reading
Canada – Interest rate drops to another record low as a recession is feared
The Canadian dollar has plunged to its lowest point since 2009, and the country’s clouded political future became even murkier as the Bank of Canada dropped its key interest rate to a record low for the second time this year, confirming that the national economy is shrinking as the country heads into an election. Bank … Continue reading
Google – Hiring is slowing down
Google Inc. is slowing down as it grows up. With revenue growth ebbing, profit margins shrinking and shares flat, Google is curbing hiring and seeking ways to run its sprawling empire more efficiently, according to recruiters, venture capitalists and others familiar with the matter… The clearest sign of the new attitude: Google added 1,819 … Continue reading
The Uberization of the economy
The tidal wave sweeping through the American economy has already reshaped the political landscape — from the rise of an anti-Wall Street movement on the left to the Tea Party on the right — and is sowing frustration among a large mass of voters. “Whether America will be America or not hinges on whether we … Continue reading
Human Capital and Labour Productivity in Canada – HC contribution to productivity growth is substantial
“The good fortune of bountiful natural resources is not enough to ensure rising incomes for Canadians in the long term. Growing labour productivity is the most important determinant of future economic welfare and on that measure, Canada is falling behind its major trading partners.” writes Serge Coulombe in Lagging Behind: Productivity and the Good Fortune … Continue reading
Microsoft – To cut 7,800 jobs
Microsoft Corp. plans to cut as many as 7,800 jobs and write down about $7.6 billion on its Nokia phone-handset unit, wiping out nearly the entire value of a business that failed to gain market share since it was acquired last year. The company also will record a restructuring charge of about $750 million to … Continue reading
Self-Employed in US – The high cost
Working for yourself is liberating—and extraordinarily expensive. You face steep tax bills, have to buy your own health and disability insurance, and need to fund retirement with no help from an employer. Add it all up, and the numbers start to look ugly. Tempted to join America’s 15 million self-employed? Here is a reality check: … Continue reading
MAN SE (Volkswagen) – To cut 1,800 jobs
Germany’s MAN SE plans to cut around 1,800 jobs at its main trucks division as the Volkswagen-owned (VOWG_p.DE) company slims operations to lower costs and revive profit, two people familiar with the situation said on Wednesday. The job cuts will affect 1,400 white-collar employees and 400 staff in production, the people said. MAN Truck & … Continue reading
Ericsson – 2,200 jobs cut
Swedish vendor eliminates 2,100 positions; 1,700 staff set to leave the company. Ericsson on Wednesday revealed that it has begun giving notice to staff facing redundancy as part of its 9 billion-kronor (€987 million) cost-cutting programme. In the past few weeks approximately 2,100 positions have been eliminated at the vendor’s Swedish R&D and supply operations. … Continue reading
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