Job Market Monitor
Economy
Forest Labs / To cut jobs to save $110 million
Forest Laboratories says it plans to cut jobs as part of a plan to trim $500 million in costs over the next two years, and will buy back at least $400 million in company stock to boost shareholder returns Continue reading
Deutsche Telekom / To cut up to 6,000 jobs
Deutsche Telekom plans to cut up to 6,000 jobs at its IT services business T-Systems, Handelsblatt newspaper reported on Monday, citing company sources Continue reading
Unemployment in Europe / 26.654 million men and women in the EU-28, 19.298 million in the euro area (EA-17)
ompared with September 2013, the number of persons unemployed decreased by 75 000 in the EU-28 and by 61 000 in the euro area. Compared with October 2012, unemployment rose by 512 000 in the EU-28 and by 615 000 in the euro area Continue reading
France / Hollande on unemployment deadline: ‘We will have to work on it ‘
French President Francois Hollande wavered on Thursday over his politically sensitive pledge to bring unemployment down by the end of the year, saying it would take as long as necessary. The unpopular Socialist leader has staked his credibility on turning around the euro zone’s second-biggest economy and lowering the jobless rate, which now stands at … Continue reading
Australia / Rio Tinto suspends Gove production and cut 1 500 jobs
Mining giant Rio Tinto has suspended production at its Gove alumina refinery, in the Northern Territory, as the operation is no longer viable in a low price, high exchange rate environment. Instead, the diversified mining group would shift its focus in the region to its bauxite operations. “This is a very sad day for everyone … Continue reading
UniCredit Bank Austria / To cut up to 850 jobs
UniCredit Bank Austria will cut up to 850 jobs in Austria as part of a plan to slash 130 million euros ($176 million) in administrative costs, it said on Thursday, blaming rising state burdens in a saturated market. Austria\’s bank levy delivers a 97 million euro annual hit and additional costs from new regulatory requirements … Continue reading
UK / Npower to cut 1,400 jobs
Energy giant Npower is to cut 1,400 jobs as part of a major restructuring of its UK operations Continue reading
Post Office in UK / ‘Modernisation’ means 4,000 postmasters face compulsory redundancy says union
Responding to the government statement on funding for Post Office modernisation today (Wednesday) the Communication Workers Union explains that the reality behind the spin is that up to 4,000 postmasters will face compulsory redundancy as a result of being forced to take a cut in pay and conditions or lose their jobs. The Network Transformation … Continue reading
Sears Canada / Laying off close to 800 workers
Sears Canada Inc. is laying off close to 800 employees as it reorganizes its repair services and parts business and makes cuts at head office Continue reading
Tunisia / Where are the jobs ?
Tunisia’s “Arab Spring” revolution, born out of economic despair, is failing to deliver the jobs and opportunities of a better life that its people long for, and had once expected Continue reading
US / A policy vacuum on jobs?
The Economic Policy Institute have been charting workers missing from the US economy – not working, but not classified as ‘unemployed’ either. As of last month their calculations show over 6 million people of working age fit this category. If these missing workers start looking for work, or are otherwise recognized as being unemployed, the … Continue reading
Pixar / To layoff less than 5% due to ‘The Good Dinosaur’ delay – latimes.com
Pixar Animation Studios has laid off an undisclosed number of people at its Emeryville, Calif., headquarters due to the delay of its forthcoming film “The Good Dinosaur.” The layoffs affect less than 5% of the company’s 1,200-person workforce, according to a source close to the studio. In September, “The Good Dinosaur” was pushed back from … Continue reading
Unemployment in France / No reversal in sight
Our analysis of the labour market up to 2014, which is set out in the latest OFCE forecasts of October 2013, suggests that no significant improvement in unemployment is expected by the end of 2014 Continue reading
Brazil / Unemployment falls to record low but real wage bill growth is at its lowest level
Brazil’s wage growth is starting to ease. It’s still growing, but it is growing much slower than it has in the last two years even as unemployment hit a record low in October. Continue reading
Ford in US / To add 350 jobs
Ford will add 350 jobs and invest $150 million at a US stamping plant as part of a major expansion of its capacity, the automaker said Thursday. The investment will be used to upgrade equipment at its Buffalo, New York facility and the new jobs will support a third shift of production. Ford said it … Continue reading
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