Job Market Monitor
Economy
Canadian Diamond Mine – Massive Layoffs To Come
Operators of the Diavik diamond nine in Canada’s Northwest Territories expect massive layoffs by the end of the month, according to a report in CBC News. There are currently over 1,000 employees working at Diavik, which sits 300 kilometers northeast of Yellownknife… via Massive Layoffs Expected in Canadian Diamond Mine.
Digital Domain layoffs 280 of its 300 employees
Tuesday, Digital Domain Media Group filed for Chapter 11 bankruptcy. This comes just three days after it laid off 280 of its 300 employees at its animation studio in Port St. Lucie. That allows the company to continue to operate while it sets up a plan to pay back its creditors… via Digital Domain layoffs: … Continue reading
Royal Philips Electronics to cut 2,200 additional jobs
Royal Philips Electronics said today that it cut 2,200 additional jobs to target an extra €300m in savings from the world’s largest lighting company as economic conditions deteriorate. Philips had already targeted 4,500 job losses. Headquartered in the Netherlands, Philips employs over 122,000 employees with sales and services in more than 100 countries worldwide. With sales … Continue reading
US – Weak Hiring Is The Problem, Not Layoffs
How bad is America’s jobs market? Layoffs and firings are at the lowest levels on record — yet the country still isn’t adding enough jobs to keep up with population growth. During the Great Recession, employers slashed millions of jobs. During the economic recovery, net job growth has been tepid. But the problem is no … Continue reading
France – Labor reform underway
France’s Socialist government may clinch a deal on labor reform by the end of this year but its cautious approach means the outcome may fall short of business leaders’ hopes for a “competitiveness shock” to revive the economy. President Francois Hollande wants a quick agreement that will help companies adjust more nimbly during economic downturns, … Continue reading
UK – The number of unemployed people increased by 978,000 since pre-recession peak, not counting the discouraged
UK Labour Market Statistics, September 2012 The employment rate for those aged from 16 to 64 was 71.2 per cent, up 0.5 on the quarter. There were 29.56 million people in employment aged 16 and over, up 236,000 on the quarter. The unemployment rate was 8.1 per cent of the economically active population, down 0.1 … Continue reading
Kodak to cut 1,000 more jobs
Bankrupt photography pioneer Eastman Kodak Co. is losing more executives and plans to cut an additional 1,000 jobs by the end of the year as it shrinks into a commercial printing-focused company. The latest job cuts follow the reduction of about 2,700 employees globally this year, the Rochester, New York-based company said Monday in a … Continue reading
DragonWave to cut more jobs
Canadian telecom network equipment maker DragonWave Inc (DWI.TO: Quote) (DRWI.O: Quote) said it is eliminating 48 jobs as it grapples with cash burn due to its acquisition of Nokia Siemens Networks’ NOKI.UL microwave business. This is its second job cut in three months. DragonWave had cut 68 jobs in Ottawa and Israel in June. The … Continue reading
HP to cut 2,000 more jobs
Hewlett-Packard said it will slash 2,000 more jobs as the technology giant unveiled a bundle of new computers. In a regulatory filing, the Palo Alto tech company revealed it now plans to cut 29,000 jobs by October 2014, according to a report by the Associated Press. Previously, the company had said it planned to cut 27,000… … Continue reading
US – Employment rose by only 96,000 but unemployment rate down at 8.1%
Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care. Household Survey Data The unemployment rate edged down in August to 8.1 percent. Since … Continue reading
Microsoft – 1,000 new jobs in China
Microsoft will hire 1,000 staff in China over the coming year, adding to the 4,500 the company already employs in the country, a senior executive said on Thursday. The move is aimed at strengthening the company’s position in a market it sees as key to future growth, but where software piracy and regulation remain serious … Continue reading
Australia – Unemployment rate drops
Australia’s unemployment rate unexpectedly dropped in August, giving a boost to the country’s currency, though analysts said the data actually point to softness in the labor market. The country’s jobless rate decreased 0.1 percentage point to 5.1% in August, the Australian Bureau of Statistics reported Thursday. Economists had been expecting the jobless rate to hit … Continue reading
Better Making Clothes In The US
Edwin Keh, a lecturer at the Wharton School at University of Pennsylvania, told WWD: “In the last couple of years, chiefly in the relationship of the U.S. dollar to the Chinese renminbi, it became less. Coupled with stubbornly high oil prices, suddenly the question became why take on so much risk to offshore when you … Continue reading
European Trade Union Confederation to European Commission – End collective austerity
On the eve of the European Commission’s major employment policy conference Jobs for Europe the European Trade Union Confederation (ETUC) appeals to European policy makers to face up to the failure of austerity and adopt an alternative approach. As politicians, EU and international officials, academics, experts and the social partners gather to discuss how to … Continue reading
Direct Line – 900 jobs cut
Insurance company Direct Line Group, which is being demerged by parent company RBS, has said it will shed 900 jobs in a bid to save costs. Direct Line has launched a series of initiatives to target £100m of gross annual cost savings by the end of 2014. That includes the closure of a site in … Continue reading
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