Job Market Monitor
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UK / Hovis To Cut 900 Jobs
The owner of Hovis has announced plans to cut 900 jobs in its struggling bread business as profits become harder to come by. In a statement, Premier Foods said it was to close two bakeries and reform its delivery network. The biggest impact will be felt in Birmingham, where 511 jobs are to be lost … Continue reading
(UPDATE) Greece – No to additional 22,000 layoffs asked by IMF
Greece / Rejecting IMF demand for 22,000 extra layoffs Greece has rejected a last-minute IMF demand for thousands of additional civil service layoffs, a finance ministry source said on Tuesday ahead of a crucial eurozone meeting to debate loan relief for Athens. The global lender on Monday called for 22,000 extra job cuts by 2014 … Continue reading
Banks need another 40,000 job cuts says Roland Berger Strategy
Roland Berger Strategy, one of the world’s leading consulting firms, said the global investment banking sector would need another 40,000 job cuts to restore sustainable economics. The sector has already stepped up restructuring programmes, reduced headcount by about 15,000 since mid-2011 and has announced another 25,000 job cuts. According to a report issued by the … Continue reading
The City / Only 10% of bankers and hedge fund workers believed London will create the most new banking jobs over the next 12 months
Confidence in the City of London jobs market continues to weaken as UK bankers increasingly pick Hong Kong, Shanghai and Singapore as the generators of new jobs, according to a report. A study by recruitment firm Astbury Marsden found that only 10% of bankers and hedge fund workers believed London will create the most new … Continue reading
Stryker Corp. / 1,000 layoffs by end of 2012
Stryker Corp.’s planned layoffs of 5 percent of its global workforce are on track to be completed by the end of 2012. Over the weekend, news reports put the total number of layoffs at 1,170, but Tamara Cutler, vice president of public affairs, said in an email that figure was inaccurate. “The estimated 5 percent … Continue reading
Greece – Rumors that the country’s troika of foreign lenders had called for an additional 22,000 layoffs
Government sources on Monday refuted reports that the country’s troika of foreign lenders had called for an additional 22,000 layoffs in the public sector next year even as municipal employees continued sitins at hundreds of city halls and municipal services across the country to protest their inclusion in a fast-track scheme to redundancy. The demand … Continue reading
35% of workers are highly engaged, 26% disengaged and 17% detached
Globally, just over a third (35%) of the more than 32,000 full-time workers participating in our study are highly engaged writes HR consultants Towers Watson in Global Workforce Study Engagement at Risk: Driving Strong Performance in a Volatile Global Environment. (Adapted chosen excerpts by JMM to follow) On one level, this isn’t surprising. Five years of economic turmoil, nearly … Continue reading
Must-Have Job Skills according to WSJ
Even as employers remain cautious next year about every dollar spent on employees, they’ll also want workers to show greater skills and results. For employees who want to get ahead, basic competency won’t be enough. To win a promotion or land a job next year, experts say there are four must-have job skills: 1. Clear … Continue reading
China / Over 70 per cent overseas students return home
A vast majority of Chinese studying abroad are returning back offering stiff competition for jobs to the students, who studied in local universities. Nearly 72 per cent of overseas Chinese students have returned to China after finishing education abroad since the late 1970s, a government-backed agency said in a report. From 1978 to 2011, about … Continue reading
(UPDATE) UK – Comet – 6,000 layoffs ?
Comet cuts further 735 jobs The insolvent electrical chain Comet is cutting hundreds more jobs, its administrators have said. Deloitte said there would be a further 735 redundancies at its head office, central functions and across its home delivery network. This is in addition to 330 redundancies already announced. The business had employed 6,611 people. … Continue reading
US / Job Gap / State-by-State
Each month, The Hamilton Project examines the “jobs gap,” which is the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who enter the labor force each month. As of September, our nation faces a gap of 11.1 million jobs, but the … Continue reading
Skills Gap / Shortfall of 40m forecasted by McKinsey Global Institute, China among the worst hit
High-tech companies face a shortfall of some 40m skilled workers by 2020, with businesses based in China likely to be among the worst hit, according to a study by the McKinsey Global Institute. The institute – a research arm of the McKinsey strategy consultancy – says that manufacturing will be the sector of the global … Continue reading
United Technologies laying off 500 workers
United Technologies Corp. announced Friday it is laying off 500 salaried and hourly employees worldwide – including some in the Charlotte area – between now and the end of the year. The multinational manufacturing and transportation company, which acquired Charlotte-based Goodrich Corp. this past summer, said it is laying off three workers at its Monroe … Continue reading
Citigroup / To cut 300 sales and trading jobs in 2012
Citigroup Inc (C.N) is on track to cut 300 sales and trading jobs globally this year, as part of its plan to streamline its banking operations, the Wall Street Journal reported, citing people briefed on the process. The sales and trading unit of the bank employs about 17,000 people, the Journal said. (link.reuters.com/kyz93t) A Citigroup … Continue reading
P&G / To cut more jobs, on top of cutting 10 percent
Procter & Gamble plans to trim more non-manufacturing jobs through 2016, on top of cutting 10 percent of that workforce by the end of June, as the world’s largest household-products maker tries to reinvigorate what has become a sluggish organization. P&G also said it may increase stock repurchases to $6 billion from $4 billion, but … Continue reading
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