Job Market Monitor
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Vodafone Hutchison Australia – Massive job cuts to come
Vodafone Hutchison Australia will cut a significant number of jobs across the country, as the organisation looks to recover from massive losses due to network issues that stem back to 2010. It is expected that 10 percent of the company’s workforce, of approximately 5,000, will be made redundant as part of the measure. CEO Bill … Continue reading
Canada – Temporary Foreign Worker Program – Recruiters in China are charging $12,500
News that a company backed by Chinese state-owned steelmakers plans to bring more than 200 Chinese miners to work temporarily in its coal mines in northern B.C. has put a much-needed spotlight on Canada’s Temporary Foreign Worker Program, as has news that recruiters in China are charging $12,500 a head for access to these mining … Continue reading
Montreal – Pfizer cuts 300 jobs
Pharmaceutical giant Pfizer has announced it’s cutting about 300 jobs across Canada, most of them in Montreal. Julie-Catherine Racine, a spokesman for Pfizer Canada, said Sunday that the cuts will be spread across several locations but the majority will be at the company’s headquarters in the Montreal suburb of Kirkland. “After an extensive and rigorous … Continue reading
Newell Rubbermaid – Over 1,900 jobs to be cut
Newell Rubbermaid plans to cut more than 1,900 jobs, or about 10 per cent of its worldwide workforce, over the next two and a half years. The consumer products company, known for Sharpie pens and its namesake containers, said Friday that all savings from the job cuts will be reinvested into growing its brands globally … Continue reading
Ireland – Jobs for 250, but 60 posts go
TWO firms have given one county a 200-jobs boost, but 60 were lost when a company went into liquidation after seven decades in business. Call centre provider Voxpro and meat processor Kepak made the announcement of 200 new positions for Cork. And 50 jobs are to be created by Europcar with the opening of new … Continue reading
Public sector jobs crowding out private jobs – Sheer mystical gobbledygook writes Krugman
Both Dean Baker and Josh Bivens weigh in Robert Samuelson’s outburst at the New York Times for saying that the government can too create jobs. (He went so far as to call it “flat-earth” thinking). Sadly, Samuelson’s attitude is widely shared — even, at least rhetorically, by Barack Obama. So let me not focus on … Continue reading
UPDATE – UBS – Job losses could reach 10,000
The bank will publish third-quarter figures on Tuesday and could concede that as many as 10,000 of its 60,000 staff will be shed in the coming years. UBS announced plans to cut 3,500 jobs to save £1.5bn just over a year ago. The changes are part of a strategy devised by the new management team … Continue reading
UK – Unemployment has fallen and it will rise again soon
The most unexpected figures recently were the big drops in the UK’s headline unemployment number and rate. However, the way the Office for National Statistics (ONS) reports the numbers – as three-month rolling averages – doesn’t really help us understand what is happening. It turns out that this occurs because of concerns about the variability … Continue reading
Spain – Job Crisis deepens as unemployment rate hits 25pc
Tens of thousands of jobs were lost between July and September raising the number of unemployed to 5.78 million people, Spain’s National Statistics Institute reported, a level unseen since the dictatorship of Francisco Franco ended in the mid-1970s. The number of Spanish households in which every member is out of work climbed to 1.74 million, … Continue reading
Federal Reserve – US unemployment “remains elevated”
The Federal Reserve has reiterated that the US economy is only growing slowly, and that the country’s unemployment rate “remains elevated”. Yet it added that the housing market had “shown some further signs of improvement”. The comments came as the US central bank kept interest rates on hold at between zero and 0.25%, as had … Continue reading
Colgate – To cut about 2,310 jobs
Colgate-Palmolive Co (CL.N) unveiled a cost-cutting plan on Thursday that included cutting its workforce by the end of 2016 by about 6 percent. The toothpaste maker, which has some 38,600 employees, also posted a higher quarterly profit that met analysts’ expectations… Choosen excerpts by JMM from via Colgate to cut about 6 percent of jobs … Continue reading
Mass Layoffs – Highest Since 2010 Finds Blommberg
Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales. North American companies have announced plans to eliminate more than 62,600 positions at home and abroad since Sept. 1, the biggest … Continue reading
US – Unemployment Claims : An Uncertain Job Market Outlook
After last week announcement of an increase of 34,000, DOL says that Unemployment Inssurrance Claims dropped by 23,000. The real job market coudn’t be that volatile. But it shows how incertain is the job market outlook. -*- SEASONALLY ADJUSTED DATA In the week ending October 20, the advance figure for seasonally adjusted initial claims was 369,000, a … Continue reading
Peugeot gets government rescue
PSA Peugeot Citroen (PEUP.PA) unveiled a government-backed refinancing deal for its lending arm as the struggling French automaker’s financial position deteriorated further, sending its stock to historic lows. Europe’s second-biggest automaker said it was close to an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing and had won state guarantees on … Continue reading
Saudi Arabia – Hiring 500 staff nurses and 20 respiratory therapists
The Northern Mindanao Philippine Overseas and Employment Administration (POEA) Regional Extension Unit-10 has announced the immediate hiring of 500 staff nurses and 20 respiratory therapists for Saudi Arabia. The POEA 10 said that this will be a government-to-government hiring of female staff nurses and female respiratory therapists. Qualified applicants for both openings will have a … Continue reading
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