Job Market Monitor
Economy
Rio Tinto / To outsource 700-800 jobs
Rio Tinto Ltd is expected to cut between 700 and 800 jobs globally as a result of a back-office outsourcing deal with IBM, according to The Australian Financial Review Continue reading
Ontario / Small-town struggles
Already towns and small cities all over the province — and beyond — have witnessed the decline of main industries, leading to closures of schools and churches as people go elsewhere for work. Small hospitals are on edge Continue reading
US Long-Term Budget Outlook / Entitlement spending is growing writes CBO
Spending for Social Security, Medicare and Medicaid is growing and will continue to climb in the long-term Continue reading
Wells Fargo / To cut 925 more jobs
Wells Fargo, the biggest U.S. mortgage lender, eliminated an additional 925 jobs in its home loan unit and has cut more than 5,700 since midyear Continue reading
US / Fiscal ‘mess’ undermines Fed on jobs says Dallas Fed President Richard Fisher
“As long as inflationary expectations are held at bay, we can fully open the monetary throttle in an effort to deliver on the mandate Congress gave us to help achieve full employment,” said Fisher. “But it is for naught as long as the fiscal authorities are slamming on the brakes and leaving everyone in the dark as to how they will cure the fiscal mess they have wrought.” Continue reading
SunTrust / To Cut 800 Jobs
SunTrust Banks (STI) has joined the lengthy list of major banks slashing jobs in their mortgage divisions Continue reading
Natixis (France) / Talks With Unions to Cut Up to 700 Jobs
French investment bank Natixis (KN.FR) Wednesday said it has begun negotiations with labor unions to cut about 700 jobs in France by the end of 2015. The bank, which is controlled by French mutual bank Groupe BPCE, said the \”new economic and regulatory context\” has forced changes in its staff organization. The bank\’s global payroll … Continue reading
Lockheed Martin / 600 more layoffs
Lockheed plans to notify affected employees on Nov. 6 Continue reading
Siemens / To cut 15,000 jobs worldwide
The ‘flagship’ German engineering and technology giant plans to shed 15,000 jobs worldwide by late 2014 in a cost-cutting drive Continue reading
US / More Than 8,000 Healthcare Jobs Cut in September
For the third time in the last five months, healthcare had the most job cuts of any sector, with 8,128 reported layoffs in September, according to the latest report from global outplacement consultancy Challenger, Gray & Christmas. Over the course of this year, healthcare organizations have cut 41,085 total jobs, according to Challenger, Gray & … Continue reading
From the fiscal cliff to sequestration / Cost about 900,000 jobs lost … and the potential for another recession
From the fiscal cliff to sequestration to the current shutdown debt ceiling debate: What\’s the cost of the U.S. government careening from crisis to crisis? About 900,000 jobs lost … and the potential for another recession. That’s the conclusion of a new report prepared by research firm Macroeconomic Advisers for the Peter G. Peterson Foundation. … Continue reading
Pioneer Foods (South Africa) / To cut 10% of jobs
Local media reported that Pioneer plans to cut 10 percent of its more than 12,000 employees Continue reading
Sweden / Unemployment rises again
Over 400,000 people remain out of work according to the latest unemployment figures released by the Swedish employment agency with Trollhättan on the west coast worst affected with a 15.7 rate compared to 8.5% nationally Continue reading
US Financial Crisis and Recession / Five decades of evidence : How long? How deep?
Findings suggest recessions in such circumstances are much costlier and slightly longer Continue reading
US / In 2012 only 15 percent of black male teens and 49 percent of those 20 to 24 were working
These young men represent a tremendous pool of potential talent that deserves the opportunity to rise to greater heights in the labor market and overcome the barriers that constrained the progress of past generations. Continue reading
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