Job Market Monitor
Economy
UK / Direct Line cuts 236 more jobs
Insurance group Direct Line is to cut a further 236 jobs as part of efforts to save £100million in costs. It said the roles would be cut across divisions including its commercial underwriting operation and risk and compliance function. The latest jobs cull comes on top of redundancies already announced by the group this year, … Continue reading
India / Stagnant jobs market
Indian jobhunters such as Mohit Goswami and Sujay Kumar Patwari have discovered an alarming peculiarity about India’s briskly expanding economy: it is creating barely any formal employment, and certainly not the 10m or so jobs needed annually to absorb new entrants to the labour force as the population grows. Mr Goswami, 24, an economics graduate, … Continue reading
Wessanen / To cut 300 jobs in Europe
Dutch food group Wessanen said on Thursday it would cut 300 jobs and reduce costs by 15 million euros ($19 million)from 2014 onwards as it restructures its European and frozen foods businesses. Source: via Dutch food group Wessanen cuts 300 jobs in Europe | Reuters.
US / Old (white) boys club still alive and well
The proverbial old boys clubs in elite professions may no longer have rules keeping women and minorities out, but an analysis of their hiring practices suggests their upper-class, male and white makeup will stubbornly remain. According to a new U.S.-based study, bankers, lawyers and management consultants would rather hire someone who is like them than … Continue reading
Canada / Recessions / Many high-seniority workers experienced substantial long-term earnings losses
Most long-term workers who were laid off in the different economic contexts of the early 1990s and the early 2000s managed to find work and earn wages or salaries during the next five consecutive years. However, many experienced earnings losses when they returned to work. The magnitude of losses varied significantly depending on factors such as labour … Continue reading
Canada / Premium on older workers in SME
A large majority of Canadian small- and medium-sized enterprise (SME) owners agree that workers 65 years and older offer more valuable experience and expertise than younger workers, according to new research from Investors Group. According to the Canadian financial firm, 96 per cent of SME owners said retirement-age employees bring more value to the table, … Continue reading
Europe is still not sufficiently skilled writes the European Commission in Pathways towards full employment
“The economic crisis is fuelling a stream of bad news about jobs in Europe.” writes Robert-Jan Smits, Director-General for Research and Innovation, European Commission in the foreword of New skills and jobs in Europe: Pathways towards full employment (Adapted choosen excerpts by Job Market Monitor to follow) People around us are losing their jobs and … Continue reading
France / Over one in ten is out of work, first time in 14 years
The number of unemployed people in France jumped to the highest level for 14 years in October, the French Labour Ministry has announced. Data shows the number of registered job seekers in mainland France rose by 45,400 or 1.5% in October to 3.103 million people, accounting for 10.6% of the population. This is the highest … Continue reading
Canada / Total non-farm payroll employment declined by 52,500
Total non-farm payroll employment declined by 52,500 from August to September, following six consecutive monthly increases. In September, the number of payroll employees declined in most sectors, with the largest declines in manufacturing; accommodation and food services; administrative and support services; and ‘other services.’ On a year-over-year basis, payroll employment rose by 235,400 (+1.6%), with the bulk of these … Continue reading
Wisconsin / One in five state business leaders eyes layoffs in next 6 months
Wisconsin business leaders say the state is headed in the right direction, yet one in five plans to cut staff in the next six months, the largest percentage in more than three years, according to a semi-annual survey conducted by Wisconsin Manufacturers and Commerce. Twenty percent said they plan layoffs in the first half of … Continue reading
Ireland / AIB / Target of 2,500 lay-offs by 2014
ALLIED Irish Banks (AIB) has said it expects to hit its target of 2,500 lay-offs by 2014. More than 1,000 staff have left under a voluntary scheme, including early retirement, with another 700 to go by the end of December. In an interim management statement, AIB said it expects to see bad debt provisions for … Continue reading
Las Vegas / Retama / About 296 employees have received layoff notices
About 296 employees at Retama Park have received layoff notices as a Las Vegas casino company continues its quest to acquire the Selma racetrack — but that doesn’t mean hundreds will lose their jobs. Angela Cooper, director of human resources for Retama Entertainment Group, which has provided management services at the track, said the layoff … Continue reading
Malaysia / Minimum Wage / Efforts to smoothen the transition for small and middle industries are seriously lacking
Although the minimum wage law is scheduled to take effect in January 2013, the Barisan Nasional government does not seem to be particularly committed to re-imagine the Malaysian economy through wage policy reform. Efforts to smoothen the transition for small and middle industries are seriously lacking too. Minimum wage is meant to tackle several long-standing … Continue reading
US / All Time Biggest Layoffs
Hewlett-Packard It’s hard to top, or bottom, the recent mass firings by past-its-prime Silicon Valley stalwart Hewlett-Packard. The last few years have been dreadful for the computer manufacturer. Longtime CEO Carly Fiorina was shoved out the door after a disastrous merger with Compaq. Her successor Mark Hurd followed suit after a sex scandal, and his … Continue reading
Spain / Bankia cuts 6,000 jobs
Spain pushed forward on Wednesday with a major overhaul of the country’s stricken banking sector after Brussels approved EU-funded restructuring plans, and with nationalised Bankia saying it will slash 6,000 jobs and is set for a huge loss. Meanwhile the Bank of Spain delivered more bad news on the overall economy, saying country appears stuck … Continue reading
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