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Scotland / Areva will create 750 jobs in new wind turbine plant
Areva, one of Europe’s largest offshore wind energy players, confirmed today that it will locate its UK turbine manufacturing site in Scotland.The announcement, which was made this morning during the First Minister’s visit to Paris, could create 750 jobs in Scotland from manufacturing and the supporting supply chain.The company today signed a strategic agreement with … Continue reading
United States and the major European economies – Bouncing Back from the Great Recession
When the economic shocks that cause recessions in different economies have large common components, there may be lessons to be learned by studying how different economies respond write Thomas F. Cooley, B. Ravikumar, and Peter Rupert in Bouncing Back from the Great Recession: The United States Versus Europe in Federal Reserve Bank of St. Louis Economic Synopses (Adapted … Continue reading
UK – Hard hit by job cuts in banking sector
GLOBAL banks have slashed almost 160,000 jobs since early last year, including more than 21,000 across taxpayer-backed lenders Lloyds Banking Group and Royal Bank of Scotland, and more lay-offs are in the pipeline as the industry restructures. Redundancies in the banking sector have outpaced new hires by roughly two-to-one according to a study that shows … Continue reading
FED / Lockhart / Aggressive Easing Needed For Jobs
Federal Reserve Bank of Atlanta President Dennis Lockhart said forceful central bank policies will remain needed to spur job growth even if Congress averts sudden tax increases and spending cuts at the end of the year. “I expect that continued aggressive use of balance sheet monetary tools will be appropriate and justified by economic conditions … Continue reading
India / IT-BPO sector to add 230,000 jobs in 2012
According to NASSCOM, the Indian IT-BPO sector continues to be an employment generator and is expected to add 230,000 jobs in FY 2012. This implies direct employment to nearly 2.8 million, and indirectly leading to employment of about 8.9 million people. Similarly, 2013 will witness hiring at all levels, right from freshers to highly experienced … Continue reading
Gender Gap / Unequal access to ‘hot jobs’ says Catalyst
Women around the globe are blocked from advancing in their careers because of unequal access to high visibility jobs and international experience, according to a new report. After graduate school, women start at lower level jobs than men and receive less pay, and the gender gap just gets wider as their careers progress, the study … Continue reading
Employment In Europe / Some perspectives
Over the past decades, there used to be that almost axiomatic, empirically derived law in economics that the natural unemployment *** rate in the US was bound to be lower than in most other western countries (notably European ones). I concentrate mainly on the EU in this answer since the other European countries are mostly … Continue reading
(UPDATE) Hostess / Closure with 18,500 Layoffs
How Hostess Failed: Hedge Funds V. Unions When Hostess Brands announced that it would close up its operations,the forces most responsible for that decision were two hedge funds that control hundreds of millions of Hostess debt and which have finally decided they won’t squeeze any more filling into the Twinkie. The funds, Silver Point and … Continue reading
Ford Motor / 212 job cuts at the Geelong and Broadmeadows plants
Ford Motor Company (NYSE:F) has sacked more than 200 workers at its Victorian plants after a decline in car sales and cuts to production. The Geelong and Broadmeadows plants were close for the day on Friday as 212 shocked employees were told during one-on-one meetings they would be going home without a job. One sacked … Continue reading
Hostess / Closure with 18,500 Layoffs
Failing to persuade striking employees to return to work, Hostess Brands disclosed plans on Friday to liquidate its assets and lay off most of its 18,500 workers, bringing the 82-year-old maker of Wonder Bread and Twinkies to the end of its line. The painful decision to wind down the Irving, Texas.-based private company follows a … Continue reading
Jobs for America / A Rooseveltian Second Term Agenda
As part of our series “A Rooseveltian Second Term Agenda,” a reminder that creating more good jobs must be the president’s top priority. The presidential victory of Barack Obama was an important vindication for the uses of government. The small-government ideologues were defeated, but now the nation must go farther and recognize government is indeed a … Continue reading
Banks / Job cuts amount to near 160,000
Major banks have announced about 160,000 job cuts since early last year and with more layoffs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two to one. A Reuters analysis of job cuts announced by 29 major banks showed the layoffs were … Continue reading
Chicago / Skills Gap will crimp their growth next year
Chicago-area manufacturers who participated in a panel discussion Thursday said the shortage of skilled workers will crimp their growth next year. Tim Jahnke, president and chief executive of Elkay Cos., an Oak Brook-based maker of stainless steel sinks, faucets, water coolers and plumbing products, said the situation is so severe that his company may have … Continue reading
Procter & Gamble / To cut more jobs
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
Canada / Almost half feel overqualified for their jobs
Canadians are not alone in feeling undervalued in the workplace, as a new survey shows almost half of the population feels overqualified for their jobs. The latest global work monitor survey released by recruitment firm Randstad showed 44 per cent of Canadians feel they are overqualified for the positions they fill, while one in five … Continue reading
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