Job Market Monitor
Economy
Nordea Bank AB (NDA) / 2,500 jobs cut is not enough
Nordea Bank AB (NDA) will need to cut more than the 2,500 jobs already axed to adjust to slow growth, as Scandinavia’s biggest bank focuses on increasing rewards to shareholders, Chief Executive Officer Christian Clausen said. “Exactly how we’re going to do this thing is not that clear,” Clausen said today in an interview in … Continue reading
Airbus / To cut 5,291 jobs in Germany
Airbus Group (AIR.PA) has told its unions it will shed the equivalent of 5,291 jobs as part of a restructuring of its defense and space activities, with the axe falling most heavily in Germany, a union source said on Monday Continue reading
Rabobank / To cut up to 2,000 jobs in Netherlands
Rabobank Group, a Dutch lender, is planning to cut between 1,000 and 2,000 jobs in the next several years, as part of a strategy to trim down costs by 2016. Rabobank CEO Ralf Dekker was quoted by NL Times as saying “Operating from within a central organization with lower overhead, makes it better, faster, and … Continue reading
Layoffs in Pharmaceuticals / The top 10 largest in 2013
The patent cliff is often the big culprit. One might think that a one-to-one relationship could be graphed between what is happening with the patent cliff and layoffs, but that is not the case Continue reading
US Solar Industry / Nearly 24,000 additional solar workers over last year
On January 27th, 2014, The Solar Foundation released National Solar Jobs Census 2013, which found that the U.S. solar industry currently employs over 142,000 Americans Continue reading
Canada’s Job Record / Clearly near the top
According to the OECD, Canada comes out on top if you look at the employment rate of everyone over the age of 15 Continue reading
Lloyds / To cut 1,080 jobs
Lloyds Banking Group plans to axe 1,080 jobs and outsource more than 310 roles as part of a continuing overhaul of the business Continue reading
US / The decline of manufacturing employment and trade with China
U.S. manufacturing employment fluctuated around 18 million workers between 1965 and 2000 before plunging 18 percent from March 2001 to March 2007. In this paper, the authors find a link between this sharp decline and the U.S. granting of Permanent Normal Trade Relations (PNTR) to China. Industries where the threat of tariff hikes declines the … Continue reading
Wal-Mart’s Sam’s Club / To cuts 2,300 jobs
Wal-Mart Stores Inc (WMT.N) said on Friday it had cut 2,300 jobs, or roughly 2 percent of the total workforce at its Sam’s Club retail warehouse chain, its biggest round of layoffs since 2010. The action follows a lackluster U.S. holiday season and layoffs announced earlier this month from U.S. retailers Macy’s Inc (M.N), J.C. … Continue reading
IMF / ‘Jobs and Growth: Supporting the European Recovery’ to be launched in Brussels, Belgium on January 28
IMF Managing Director Christine Lagarde will introduce the session, followed by comments from Wolfgang Schäuble, Finance Minister of Germany, and Luis de Guindos, Minister of Economy and Competitiveness of Spain. The event will be chaired by Fabian Zuleeg, Chief Executive of the European Policy Centre Continue reading
Turkey / Labor market performance after the crisis has been remarkable says a report
From 2009-2012 the country created some 3.5 million jobs while employment in the European Union fell by 2 million during the same period Continue reading
Target / To layoff 475 employees and leave another 700 positions unfilled
Target Corp. is cutting jobs at its headquarters and around the globe following a weak holiday season and a costly data breach that affected up to 110 million customers. Minneapolis-based Target (NYSE: TGT) will lay off 475 employees worldwide, the company told workers Wednesday. The company will leave another 700 positions unfilled. “Target continually assesses … Continue reading
PSA Peugeot-Citroen in France / To cut another 1500 jobs
According to a union leader, PSA Peugeot-Citroen is considering cutting an additional 1,500 jobs in France in the face of continued production overcapacity. The cuts would come on top of the 11,200 French positions to be eliminated by PSA by 2015 under its current restructuring plan, according to the union official. “Our sources internally are … Continue reading
Amazon Tops in US / 16,100 IT jobs posted last year
The employer with the most IT job postings last year was Amazon.com, with 16,146 ads, exceeding most other IT firms by a wide margin, according to a new report. The three top runners-up in 2013 U.S. job postings were Accenture, at 14,240 and Deloitte, at 13,077 job ads, according to CompTIA’s annual IT Industry Outlook … Continue reading
UK / Unemployment rate falls to 7.1%
The unemployment rate in the UK has fallen sharply to 7.1 per cent of the workforce, taking it close to the target under the Bank of England’s much-criticised forward guidance policy Continue reading
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