Business

Zynga to lay off 5% of employees

Zynga Inc laid off 5 percent of its full-time workforce and shut its Boston office on Tuesday as it embarked on a sweeping cost-cutting campaign that may eventually see the “FarmVille” game creator close its Japanese and British studios as well. The company, which is trying to arrest a steep decline in earnings as users … Continue reading →

Corning to cut jobs

Specialty glass maker Corning Inc reported a lower quarterly profit as sales to consumer electronics, telecommunication and automotive markets fell, and said it plans to cut jobs and reduce costs. Corning, which makes products as diverse as smartphone screens to emission filters, said it expects a pretax charge of up to $50 million in the … Continue reading →

Belgium – 10,000 jobs losses at Ford (video)

Australia – Rio close may Gove mine: 1400 jobs lost

Rio Tinto may close its Gove alumina mine in an effort to cut costs globally. The decision follows the miner’s announcement it would slash jobs at the site. At the time Frank Willsdon, Pacific’s general manager, explained that Rio is looking at ways to operate the site with fewer people. “Steadily over time, we [want … Continue reading →

US – New home sales to near 2-1/2 year high

New single-family home sales surged in September to their highest level in nearly 2-1/2 years, further evidence the housing market recovery is gaining steam. The Commerce Department said on Wednesday sales increased 5.7 percent to a seasonally adjusted 389,000-unit annual rate – the highest level since April 2010, when sales were boosted by a tax … Continue reading →

Europe – Kimberly-Clark to cut 1,500 jobs

US personal-care products giant Kimberly-Clark said Wednesday it was exiting its Huggies diaper business in much of western and central Europe, cutting up to 1,500 jobs. Kimberly-Clark Corporation announced it would close or sell five manufacturing facilities and some production would be transferred to other plants. As part of the restructuring aimed at boosting profitability, … Continue reading →

Dow Chemical plans 2,400 job cuts

Dow Chemical on Wednesday reported a sharp drop in third quarter profits, hours after saying it planned to cut five percent of its global workforce, or 2,400 employees, and close 20 plants. The company reported quarterly profits of $497 million compared to $815 million the previous year, a 39-percent drop. Dow said Tuesday it aimed … Continue reading →

Poland – Polimex to slash workforce by 1,744

Troubled Polish construction firm Polimex-Mostostal has announced plans to fire 1,744 workers by March 2013. The company, which has found itself in dire financial straits, currently employs nearly 10,000. The builder took heavy losses on infrastructure projects in the wake of the Euro 2012 soccer championships, when it signed unfavorable agreements that didn’t allow it … Continue reading →

Sanofi – 900 layoffs but could run higher

Sanofi’s (SASY.PA: Quote) plan to restructure its research operations in France could lead to more job losses than the 900 layoffs mooted by the drugmaker, union representatives said. Unions said the company’s figure underestimated the number of job cuts as Sanofi reshuffles its laboratories into regional research hubs at the expense of smaller centers. “There … Continue reading →

Weather Channel – 7 percent of its work force laid off

The Weather Channel laid off some 7 percent of its work force today according to independently confirmed reports (Mediabistro first reported the news). The network is owned, as of 2007, by a consortium composed of Bain Capital, NBCUniversal and the Blackstone Group, and is among the most widely-distributed networks on cable. Since the acquisition by … Continue reading →

China’s Labor Markets

Unemployment is arguably the most important, but least well measured, factor in China’s economy. Low unemployment and rising wages signal economic health, making it less likely that the government will rush to pump up growth. The reverse – mass layoffs and stagnant income – have China’s decision makers lunging for the stimulus button. The official … Continue reading →

Big Data To Create 4.4 Million Jobs Says Gartner Research

Big data is going to have a big impact on IT spending globally as the Gartner research firm forecasts that it is going to create a demand for 4.4 million big data-related jobs globally. Gartner forecasts total IT spending to rise by 3.8 percent in 2013 to $3.7 trillion (£2.3tn) globally, up from the $3.6 … Continue reading →

Weakening labour regulations will stimulate job creation is an unfounded claim says International Trade Union Confederation

The 2013 edition of the World Bank’s Doing Business report, released today, makes unfounded claims that weakening labour regulations will stimulate job creation. It states that countries that reduce dismissal notice periods or severance pay “are addressing one of the main factors deterring employers from creating jobs in the formal sector”. (Doing Business 2013, p … Continue reading →

DuPont – 1,500 jobs cut

DuPont reported a lower-than-expected quarterly profit on Tuesday and announced 1,500 job cuts as part of a cost savings program designed to offset falling sales around the world. Shares of the chemical company fell 6 percent in premarket trading. The move by DuPont, a member of the Dow Jones industrial average and the maker of … Continue reading →

UK – Vocational Education – Skills Gap: Economic Recovery Depends on Balance Between Academic and Vocational Ed

“Big companies believe the UK’s economic recovery may depend on improving the balance between academic and vocational education” writes James Taylor in We need more investment in practical skills, say employers on managementtoday.co.uk. “87% of the large firms questioned by education services provider Pearson said the UK economic recovery was at risk without more investment … Continue reading →