Job Market Monitor
Economy
UK / Novartis / Jobs may go overseas
Swiss pharmaceuticals giant Novartis has arranged a crisis meeting of scientists, NHS trustees and Government officials starting today in London in a bid to streamline Britain’s “haphazard” approach to medical research and development (R&D). Science Minister David Willetts is due to attend the meeting, thought to be the first to unite representatives of Big Pharma … Continue reading
UK / Over 6m working poors
Millions of workers are facing insecurity, moving in and out of jobs, and poverty, according to a new report. The Joseph Rowntree Foundation (JRF) said over six million people classed as living in poverty, were in households where people worked. Excluding pensioners, in-work poverty now outstrips workless poverty, while 1.4 million people were now working … Continue reading
Indonesia / Govt to challenge Jakarta’s minimum wage
Industry Minister MS Hidayat said on Friday that he supported a plan of top businesspeople to challenge Jakarta Governor Joko “Jokowi” Widodo’s decision to set Jakarta’s 2013 provincial minimum wage at Rp 2.2 million (US$228). “I have been informed by Apindo [Indonesian Employers Association] that it will file a lawsuit with the PTUN [state administrative … Continue reading
UK / Tata Steel to cut 900 jobs
India-based Tata Steel Ltd. Friday announced plans to cut about 900 jobs at its U.K. operations as part of a wider restructuring. “Today’s proposals are part of a strategy to transform ourselves into an ‘all-weather’ steel producer, capable of succeeding in difficult economic conditions,” Karl Koehler, chief executive of Tata Steel’s European operations, said in … Continue reading
South Africa / Possibly above 10,000 and maybe higher mining jobs cut
South Africa’s mining industry is likely to see mass job cuts following violent strikes that drastically reduced production of gold and platinum, the head of the national mining industry body said on Friday. Bheki Sibiya, chief executive of the Chamber of Mines, said he expected thousands of job cuts in the industry, “possibly going above … Continue reading
Moderate minimum wages can do more good than harm writes The Economist
MINIMUM-WAGE laws have a long history and enduring political appeal. New Zealand pioneered the first national pay floor in 1894. America’s federal minimum wage dates from 1938. Most countries now have a statutory pay floor—and the ranks are still swelling. Even Germany, one of the few big countries without, may at last introduce a national … Continue reading
India / Youth Unemployment
India, one of the youngest countries in the world, where youth accounted for 20% of the total population in 2011, according to the Registrar General of India. More importantly, the dependency ratio – the number of children and elderly people per working-age person — declined 21% over the last three decades. In China, the ratio … Continue reading
Europe / Punitive tariffs Chinese photovoltaic manufacturers put 30,000 European jobs in danger
In a new study, AFASE has laid out the consequences it expects anti-dumping and anti-subsidy duties on Chinese photovoltaic manufacturers in Europe will have. Expected European-wide is a fall in demand, job losses and price increases. In China, the market leaders boast a capacity of 2 GW or more; in Europe there is no manufacturer … Continue reading
France / Société Générale could outsource 400 jobs
Societe Generale (SOGN.PA), France’s No. 2 listed bank by value, is considering outsourcing 400 back-office jobs at its corporate and investment bank, according to internal memos seen by Reuters. The plan, in which consulting company Accenture (ACN.N) would take on staff working mainly in custody and securities services, could be extended to other businesses, such … Continue reading
Employability And The Economy
Employability is based on a set of individual characteristics. It is not equivalent to employment, but rather a prerequisite for (gainful) employment. It pertains to someone’s relative ability to obtain and maintain gainful employment, as well as make successful transitions from one job to the next, either within the same company or field or to … Continue reading
Bridgestone / More than 500 jobs cut in Europe
Bridgestone announced it will cut almost 500 jobs in Europe due to sluggish tire sales. Most part of the job cuts, 442 from the total of 510, will be made in Spain, where Bridgestone has three plants, while the rest of the jobs will be cut from the company’s plant in Bethune, France. In Europe … Continue reading
ING / 2,350 jobs cut
ING Groep NV, the biggest Dutch financial-services company, will cut 2,350 jobs in its banking and insurance units after reporting a 64 percent slump in third-quarter profit. Photographer: Jock Fistick/Bloomberg Chief Executive Officer Jan Hommen is under orders to sell its insurance operations by the end of next year after ING received a 10 billion-euro … Continue reading
Germany / Hochtief to cut 700 jobs
Hochtief plans to cut about 700 jobs because of weak orders at its construction and facility management business Hochtief Solutions in Germany, a weekly magazine reported. The jobs will be cut at the company’s offices in Hamburg, Berlin, Munich and the Rhein-Main region surrounding Frankfurt in 2013, Wirtschafts Woche, citing company sources, said in a … Continue reading
What Accounts for the Slow Growth of the Economy After the Great Recession? – Infographic
Source: CBO | What Accounts for the Slow Growth of the Economy After the Recession? – Infographic.
US / 15% of law firms are planning to reduce partnership ranks
In a setback for the struggling legal industry, about 15 percent of U.S. law firms said they were planning to reduce partnership ranks in the first quarter of 2013 in a move seeking to address the problem of underused partners, according to a new survey by Wells Fargo Private Bank. The survey, which looks at … Continue reading
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