Job Market Monitor
Economy
Commerzbank / To Cut 4,000 to 6,000 Jobs
Commerzbank AG (CBK), Germany’s second- biggest bank, will cut 4,000 to 6,000 jobs over the next four years to reduce costs and meet its profit goals. The job reductions will apply to all units worldwide with the retail bank having “significant overcapacity,” according to an internal memo obtained by Bloomberg news, the contents of which … Continue reading
Barclays / To Cut 2,000 Jobs
Barclays has launched a consultation with staff in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, the bank said on Tuesday. Jenkins, who took over in August having previously run Barclays’ retail operations, is revamping the bank following the departure of Bob Diamond when the … Continue reading
Boston Scientific to cut up to 1,000 jobs
Boston Scientific Corp., the Natick medical device maker that already has eliminated more than 1,000 jobs over the past three years, said Tuesday it plans to cut another 900 to 1,000 jobs worldwide. The company did not specify where the job cuts would take place, but new chief executive Mike Mahoney said in an interview … Continue reading
Texas / Amazon.com hiring 1,000
Amazon.com Inc. (US:amzn) said Wednesday it’ll hire 1,000 workers as part of its plan to open three new fulfillment centers in Texas. The sites will be in the cities of Coppell, Haslet and Schertz. Amazon.com shares jumped 8.5% after the onlnie retailer reported weaker-than-expected fourth-quarter sales but strong operating profit. Choosen excerpts by Job Market … Continue reading
France / Minister Michel Sapin: There is a state but it’s a totally bankrupt state
France’s government was plunged into an embarrassing row yesterday after a minister said the country was ‘totally bankrupt’. Employment secretary Michel Sapin said cuts were needed to put the damaged economy back on track. ‘There is a state but it is a totally bankrupt state,’ he said. ‘That is why we had to put a … Continue reading
Germany / Hewlett-Packard lays off 850 employees
Hewlett-Packard Co. HPQ -0.15% will close its site in Ruesselsheim, Germany, by the end of October and layoff about 850 employees–or 8.5% of its workforce in the country–as part of a previously announced broader restructuring effort. “The changes we are announcing in Germany today are a necessary part of our commitment to deliver our long-term … Continue reading
Canada / Sears lays off 700 workers
Sears Canada announced Thursday it is laying off 700 workers across the country as part of a move to “right-size” the company and focus on restructuring its business. The national retailer says 360 people are being laid off from its department stores and about 300 from its distribution centres. The remaining workers are being let … Continue reading
Euro Zone / Youth unemployment rose by 303 000 in a year, reaching 57.6% in Greece
The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in December 2012, stable compared with November. The EU27 unemployment rate was 10.7%, also stable compared with November. In both zones, rates have risen markedly compared with December 2011, when they were 10.7% and 10.0% respectively. These figures are published by Eurostat, the statistical office of the European Union. Eurostat … Continue reading
US / The number of American working was up by only 17,000
The headline ” Total nonfarm payroll employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9 percent”, the U.S. Bureau of Labor Statistics reported today. But the number of those working (SA) was up by only 17,000, after last month 28,000. This is by far not enough for a dent in the … Continue reading
Skills Gap / Transaction banking: a substantial talent shortfall
The appeal of the transaction services industry for new talent has never been higher, as high-impact, pejoratively dubbed ‘casino’ investment banking job opportunities vanish. Technologic nous and an ability to navigate new client demands – amid market and regulatory shifts – are key skills that budding transaction bankers must develop to make their names in … Continue reading
Japan / Jobs In Manufacturing Sector To 50-Year Low
Employment in Japan’s once-mighty manufacturing sector has fallen below 10 million for the first time in five decades, as a new government vows to stoke the struggling economy. Official employment data released Friday showed the number of workers in Japanese industry, which fuelled the country’s stratospheric rise from the ashes of World War II, slipped … Continue reading
Germany / Unemployment Rate Declined to 6.8 percent in January
German unemployment unexpectedly declined in January, adding to signs that a pick-up in Europe’s largest economy is gathering pace. The number of people out of work fell a seasonally adjusted 16,000 to 2.92 million, the Nuremberg-based Federal Labor Agency said today. Economists predicted an increase of 8,000, the median of 31 estimates in a Bloomberg … Continue reading
Harman / 500 jobs cut and, maybe, 500 more
Audio systems maker Harman International Industries Inc slashed its full-year outlook and said it would cut up to 9 percent of its workforce after second-quarter profit missed Street estimates due to lower sales to European carmakers. Harman shares plunged 14 percent to $42.49 in morning trade on the New York Stock Exchange. “We expected European … Continue reading
Canada / Where are all the jobs? Infographics
Source: MacBlog_Jobs – – Macleans.ca.
UK / 150 jobs to go at IPC Media
the UK division, the magazine giant IPC Media, must cut 150 jobs, which amounts to 8% of the total. The publisher of Britain’s best-known consumer magazines, such as Marie Claire, Ideal Home, Woman, Woman’s Own, In Style and Now, said the cuts would be accompanied by “organisational changes.” There will also be sweeping changes to … Continue reading
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