Job Market Monitor
Economy
Revlon to cut 250 jobs
Makeup company Revlon Inc. says it is cutting 250 jobs, or about 5 per cent of its workforce, and is closing two plants in a broad restructuring as it seeks to cut costs. Revlon, whose brands include Almay, Mitchum and its namesake, says it will close its manufacturing plant in France and its leased manufacturing … Continue reading
Enbridge Gateway pipeline would cost jobs in Alberta says Union
Enbridge’s proposed Northern Gateway oil pipeline to Canada’s Pacific Coast could cost thousands of high-paying refining jobs in Alberta, a labour group warned in Edmonton on Tuesday as the company faced its first day of grilling at public hearings into the contentious project. Alberta Federation of Labour contends the $6-billion line, which would ship 525,000 … Continue reading
Greece – Underground Economy Grows. Is there a link with the Euro crisis ?
Greece does not have the means to police its underground economy, which is considered very large compared to the size of the country. Austerity measures that cut the size of government will make enforcement of tax laws even more difficult. That is too bad because there is a lot of money to be had if only Greece could get cash … Continue reading
Fortescue Metals – Hundreds of jobs cut
Iron ore miner Fortescue Metals has shelved $1.57 billion of expansion plans and cut hundreds of workers’ jobs, in a further sign that the peak of the mining boom may have passed. Fortescue, founded by billionaire Andrew Twiggy Forrest, blamed the cuts on uncertainty over the spot iron ore price which has fallen rapidly amid … Continue reading
Swiss economy shrinks
The Swiss economy unexpectedly shrank in the second quarter as the euro zone crisis caught up with a country that had seemed relatively immune to its neighbors’ woes, providing further justification for the central bank’s cap on the strong franc. The surprise 0.1 percent contraction mirrors emerging evidence in Sweden, another euro outsider whose currency … Continue reading
Germany – Merck KGaA – To eliminate 1,100 jobs
German drug maker Merck KGaA is to eliminate one out of every 10 jobs in its home country. Merck said Tuesday it would cut 1,100 of the 10,900 positions in its home country. It signed an agreement with employee representatives about the cost cuts. The company will try to find the cuts through either not … Continue reading
Spain – Unemployment benefits Claims Up as Public Jobs Vanish
The number of people claiming unemployment benefits in Spain rose by 38,179 in August from the previous month to a total of 4,625,634. Employment Ministry spokeswoman Engracia Hidalgo said although the monthly rise in unemployment was bad news, the increase was the smallest since August 2006. Unemployment among young people under the age of 25 … Continue reading
6 challenges for American worker
The Detroit Free Press looks at some of those challenges. Not enough jobs Long-term unemploymen Retirement anxiety Crummy jobs Bad bosses Decline of union via 6 challenges affecting the American worker – USATODAY.com.
Boston Scientific – Untold number of Layoffs to Come
Medical device giant Boston Scientific expects an untold number of layoffs in the next few months and the company will its cardiac device businesses into separate CRM and stent divisions. Medtech titan Boston Scientific (NYSE:BSX) is making some big moves in the next few months, including some new rounds of layoffs and the halving of its … Continue reading
Siemens – More Than 150 North Texas Jobs Cut
Siemens Industry, Inc has announced that it is preparing to layoff more than 150 employees in the North Texas area. A spokesperson for Siemens said North Texas employees were notified Thursday that layoffs will take place until the end of 2013. About 160 full-time employees are expected to be affected. All layoffs will take place … Continue reading
Brillion Iron Works – 200 layoffs
Nearly 200 people will soon be out of work in Brillion. Executives at Brillion Iron Works say the economy is forcing them to cut 198 positions, including 184 hourly jobs. The year began with the company hiring about 200 workers to keep up demand for automotive castings. But, company officials say that demand has slowed … Continue reading
Vivendi plans to cut jobs
French media and telecoms giant Vivendi has said it will cut costs, including jobs, as it reported a drop in second-quarter net profits mainly due to its struggling telecoms unit. Net profit fell 46% to 619m euros ($777m; £490m) on revenue down 1.5% to 6.96bn euros, a statement said. Vivendi said it would cut costs … Continue reading
Israel – Unemployment drops despite record layoffs
Despite a three-year high in layoffs in July 2012, following steady increases in layoffs in the previous months, the Central Bureau of Statistics today reported that the unemployment rate among persons over the age of 15 fell to 6.5% in July from 7.1% in June and 7% in the second quarter. Participation in the labor … Continue reading
A Secure Job to be in the Middle Class
Americans believe that having a secure job is by far the most important requirement for being in the middle class, easily trumping homeownership and a college education, according to a new nationwide Pew Research Center survey of 2,508 adults. Nearly nine-in-ten adults (86%) say a person needs a secure job to be considered part of … Continue reading
Denmark – Vestas announces 1,400 job cuts
Danish wind turbine company Vestas is to cut an additional 1,400 jobs. Officials from the firm said that the move comes ahead of predicted sluggish demand in the industry next year, and will provide the organisation with some EUR 100 million in cost savings. The news comes after Vestas cut 2,335 jobs earlier in the … Continue reading
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