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Abbott Laboratories – 550 Layoffs
A spokeswoman for Abbott Laboratories says the announcement Wednesday of a 550-job reduction in the drug and health care products company’s worldwide workforce will not have an impact on its nutrition products facility in Sturgis. But she said there will be some impact in Sturgis over the next year. That is part of an announcement … Continue reading
FedEx Outlines Broad Cost-Cutting Plans: Layoffs to come ?
FedEx Corp. announced programs targeting annual profitability improvement of $1.7 billion during the next three years. In a keynote speech at FedEx Corp.’s 2012 Investors and Lenders Meeting, Frederick W. Smith, FedEx chairman, president and CEO, said a significant portion of the profitability improvement will come from cost reductions at FedEx Express and FedEx Services… … Continue reading
Taiwan – Tech Layoffs Likely to Peak in Q4
With some of DRAM and LED companies downsizing to induce employment cuts among high-tech industries, tech layoffs in Taiwan are likely to peak in the fourth quarter of this year, warned local human resource agencies. According to statistics issued by the Council for Labor Affairs, a total of 2,742 employees in different industries in Taiwan … Continue reading
China – Hiring to hit lowest point in 4th qtr
Employers on the Chinese mainland are expecting the lowest hiring demand for 2012 in the fourth quarter, with about 53 per cent saying they will recruit more people, according to the latest Hudson Report released on Wednesday. But the report, which questioned 6,400 employers, said hiring demand on the mainland remains the highest among all … Continue reading
Securitas – To cut 400 jobs
Swedish security services group Securitas, (SECUb.ST: Quote) which has posted seven straight quarterly earnings drops, is to cut costs and merge two divisions, it said on Wednesday. The company, the world’s second largest security firm after British-Danish G4S, (GFS.L: Quote) has suffered from weakness in Europe during the sovereign debt crisis, affecting key contracts. Profitability … Continue reading
TeliaSonera – To cut thousands of jobs
Telecoms group TeliaSonera AB is shedding thousands of jobs as part of a cost-cutting plan and has warned of industry stagnation until companies find a way to profit from surging smartphone and tablet data traffic. TeliaSonera, part-owned by the Swedish and Finnish states, has seen revenue flatline since 2008, despite rapid expansion in central Asia, … Continue reading
Toronto – Loblaw cuts 700 head office jobs
The decision by Loblaw Companies Limited to chop 700 jobs from the payroll in administration and at head office in Brampton on Tuesday was met with mixed reviews from analysts and investors. Loblaw has been upgrading its supply chain technology and infrastructure and while the job cuts may reflect greater efficiencies, Perry Caicco, managing director, … Continue reading
Europe – Rio Tinto – To cut 30% of workforce
Rio Tinto is planning to cut costs and jobs in Europe by 30 per cent by the end of 2013, a union official says after meeting with company executives. “They told us that we have to reach a reduction of costs on the order of 30 per cent. This announcement will certainly worry employees,” said … Continue reading
Microsoft – Layoffs at Lionhead
Guildford studio Lionhead has endured a further misery following the launch of its poorly received Kinect exclusive Xbox 360 game Fable: The Journey. Parent company Microsoft confirmed it has issued redundancies to “less than ten per cent of staff”. In a statement sent to industry publication Develop, the platform holder added: “Following the completion of … Continue reading
Ireland – GlaxoSmithKline reversing plan to close plant: 120 jobs saved
Global pharmaceutical and healthcare company GlaxoSmithKline (GSK) has reversed a decision to shut a plant run by one of its subsidiaries, saving over 100 jobs. The Stiefel facility in Co Sligo will remain open with an investment of €10m and initially retaining 120 of the 180 staff. It had been due to close next year… … Continue reading
Autralia – Another Qld coal miner to cut 400 jobs
A central Queensland coal mining company has announced it will cut more than 40 per cent of its workforce to try and cope with declining market conditions. Ensham Resources says the workforce at its open cut operations near Emerald, west of Rockhampton, will be cut from 900 to 500. It says the vast majority of … Continue reading
Colorado – Vestas cuts 200 more jobs
Vestas has continued its US restructuring programme and cut 200 jobs at its Windsor, Colorado blade manufacturing plant. In all, Vestas chief executive Ditlev Engel has said the company would cut 1,600 jobs if the production tax credit (PTC) was not renewed. The 200 job losses at Windsor represent 29% of the plant’s workforce. The … Continue reading
Unemployment – Hurts more than just the Unemployed
High unemployment has negative spillovers for most of those still at work. In a labor market like ours, with low unionization rates, bargaining clout for many in the workforce is very much a function of the unemployment rate. Excess labor supply over labor demand typically puts downward pressure on both nominal and real wages. The … Continue reading
Philippines – Sunpower to cut 900 jobs
Solar panel maker SunPower Corp said it will restructure its Philippines manufacturing operations and cut about 900 jobs, citing challenging industry conditions. The company said it will temporarily idle six of its 12 lines at its cell manufacturing plant and 20 percent of its panel manufacturing in the Philippines to reduce inventory, lower operational costs … Continue reading
France – Layoffs – Vivendi, STMicro Revamp Face Hollande’s Scrutiny
Vivendi SA (VIV) and STMicroelectronics SA (STM), each considering a reorganization to boost their competitiveness, face a hurdle as French President Francois Hollande struggles to keep an election pledge on job creation. Industry Minister Arnaud Montebourg is today hosting STMicroelectronics Chairman Didier Lombard at Bercy, the sprawling 1980’s government complex in eastern Paris. The meeting … Continue reading
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