Job Market Monitor
Economy
Siemens / To cut 1,700 jobs
Siemens is expected to cut around 1,700 jobs in the restructuring of its energy business Continue reading
Australia / About 7000 mining jobs gone
ABOUT 7000 jobs have been lost from Queensland’s coal sector in the past 15 months, according to the industry Continue reading
UK / Barclays To Offshore 4,000 Jobs
Barclays Plc is planning to move 4,000 jobs to low cost locations overseas by 2015 to cut costs Continue reading
US / A new labor market indicator: the threshold of initial jobless claims
The paper introduces a new labor market indicator, referred to as the threshold of initial jobless claims, that serves as a benchmark of comparison for the weekly reporting of initial jobless claims. The presented threshold is an improvement over a commonly used rule of thumb in relating initial claims to the upcoming employment report Continue reading
Offshoring / Bank of America Moving Home Mortgage Jobs To India
Bank of America (BAC) opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost Continue reading
Australia / WesTrac cuts 350 jobs
HEAVY machinery dealer WesTrac is cutting 350 jobs as part of a restructure in response to weaker demand from the resources industry Continue reading
Arkansas / Nordex wind turbine plant to stop production and lay off
A $40 million wind turbine factory in northeast Arkansas that opened in 2010 with plans to employ more than 700 people announced Friday it would end production and lay off 40 workers Continue reading
Renesas / 1,000 jobs cut in Europe
Renesas Electronics will shed more than a thousand jobs in Europe, including its whole workforce of more than 800 in Finland Continue reading
Rona / Closing 11 stores and cutting 125 jobs
Rona will try to rebuild its profitability by closing 11 stores in two provinces and cutting more administrative jobs Continue reading
Germany / Unemployment Drops in June (Rate at 6.8%)
German unemployment unexpectedly fell in June amid signs a recovery in Europe’s biggest economy is on track even as the euro area struggles to emerge from its longest ever recession Continue reading
Edison / Layoff notices to 600 non-union nuclear plant workers
Southern California Edison announced Wednesday that it had issued layoff notices to 600 non-union employees at the San Onofre nuclear plant. Continue reading
Sesame Street cuts Jobs
The non-profit producer of Sesame Street, Sesame Workshop, has laid off about 30 members of its workforce in order to keep up with the constant changing of digital technologies Continue reading
Layoffs / The Incredible Shrinking Mining Sector
Who will be left to mine the world’s metals and minerals? As prices for gold, silver, copper, uranium, and iron ore continue to fall, miners are increasingly turning to layoffs to help meet the need to contain costs. Continue reading
Australia / Coal miners jobs cut by Peabody and Glencore Xstrata
Peabody Energy Corp and Glencore Xstrata will cut around 500 mining jobs in Australia, a company official and trade publication says, as a global glut in coal supply pushes down prices Continue reading
Direct Line to cut 2,000 jobs
Direct Line Insurance has said that it is planning to cut 2,000 UK jobs as it steps up plans to reduce costs. The firm announced in August 2012 plans to reduce gross annual costs by £100m a year, but now plans to save more than double this target. Continue reading
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