Job Market Monitor
Economy
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
US Economy – 60 Leading Economists Survey
If we’re ever going to get out of this slump, what will it take? Foreign Policy asked more than 60 leading economists to tell us. via The FP Survey: The Economy | Foreign Policy.
US – Federal Employees – 2 percent of total employment, less than half of what it was in the early 1960s
In our country, tax cuts and spending increases gave the economy a badly needed boost in the depths of the recession and early in the recovery. But these stimulus measures have been expiring. At the same time, states and localities have cut spending and raised taxes as they struggle to balance their budgets. As a … 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
China – Job losses may be looming
Recent economic data such as stronger-than-expected exports and benign inflation in September are the latest signs that China’s slowdown may be nearing an end, reducing pressure on the government to implement more stimulus measures to shore up the world’s second-biggest economy. However, some observers are now concerned about a less-cited economic indicator – employment – … 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
US – Amazon : Hiring 50,000 seasonal workers
It’s only October, but companies like Amazon are already thinking about the holidays. The online retailer is the latest to announce its seasonal hiring plan, and it’s significant: 50,000 jobs in the United States Amazon (AMZN, Fortune 500) currently employs 20,000 people at its 40 fulfillment centers across the country, where the seasonal employees will … Continue reading
France : Fixing a broken social model
Taking as its starting point the programme and campaign of Nicolas Sarkozy in the presidential election of 2007 around the ‘value of work’, this article reviews and assesses the main reforms undertaken during the period of his presidency. It focuses on the reform of working time regulations through tax exoneration for overtime hours, minimum income … Continue reading
US – 14 million white-collar jobs are vulnerable to being outsourced offshore
Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so … Continue reading
US – Closing The Jobs Deficit
The latest data on employment in the United States confirm that the American economy continues to recover from the Great Recession of 2008-2009, despite the slowdown engulfing the other G-20 nations. Indeed, the pace of private-sector job growth has actually been much stronger during this recovery than during the recovery from the 2001 recession, and … Continue reading
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