Job cuts

This tag is associated with 961 posts

Job Cuts in Banks – Another 30% could be lost

The downsizing of the bank workforce is about to accelerate as more technology takes over jobs humans used to do, according to a new Citigroup report. Another 30% of bank jobs could be lost between 2015 and 2025, mainly due to retail banking automation, Citi warned. “Fintech is forcing banking to a tipping point,” Citi … Continue reading

Canada’s petroleum industry – 40,000 jobs cut and more layoffs still to come

After almost two years of sinking oil prices and at least 40,000 job cuts, Canada’s petroleum industry still isn’t finished tackling its bloated operations. The next round of layoffs has already begun with Cenovus Energy Inc. and Murphy Oil Corp. announcing workforce reductions last week. Ongoing cuts by Suncor Energy Inc., Encana Corp. and others … Continue reading

China – Steelmaker to cut 50,000 jobs

The global crisis hammering the steel industry is beginning to be felt in China, where one of the country’s biggest producers has said it may let go 50,000 of its 80,000-strong workforce. Chosen excerpts by Job Market Monitor. Read the whole story at  Chinese steelmaker readies 50,000 jobs cuts as industry crisis deepens

Bombardier – 7,000 jobs cut

Bombardier is implementing one of the deepest job cuts in its history by eliminating 7,000 positions — including more than a third in Canada — though it took pains Wednesday to instead train the public spotlight on a large CSeries plane order with Air Canada. The layoffs represent close to 10 per cent of Bombardier’s … Continue reading

Yahoo – 1,600 jobs to be cut

Yahoo Chief Executive Marissa Mayer is set to reveal cost-cutting plans that include slashing 15% of its workforce, or roughly 1,600 jobs, and closing several business units, the Wall Street Journal reported on Monday. Chosen excerpts by Job Market Monitor. Read the whole story at Yahoo Will Cut 15% of Its Workforce |

Alberta – 19,600 Job losses last year

Alberta suffered its worst year for employment losses since the dark days of the National Energy Program and early 1980s recession, revised labour figures from Statistics Canada show. Statscan’s annual revisions of its national Labour Force Survey data ratcheted up Alberta’s job losses last year to 19,600, from the 14,600 the statistical agency originally reported … Continue reading

Johnson & Johnson – To Cut About 3,000 Jobs in Medical Devices 

Johnson & Johnson said Tuesday that it plans to cut about 3,000 jobs over the next two years as the health care conglomerate works to restructure its medical devices business. The New Brunswick, New Jersey, company said that amounts to more than 2 percent of its global workforce of around 127,000 people and 4 percent … Continue reading

DuPont – To cuts 1,700 jobs

Chemical maker DuPont Co (DD.N) said it would cut 1,700 jobs in Delaware, as part of a previously announced plan to reduce its workforce before combining with Dow Chemical Co (DOW.N) in a $130 billion megamerger. The job cuts in the state, which has been its home for more than 213 years, will take place … Continue reading

Toshiba – To cut 7,000 jobs in PC and TV units

Japan’s Toshiba Corp (6502.T) said on Monday it will cut nearly 7,000 consumer electronics jobs after a $1.3 billion accounting scandal, in an overhaul that will streamline the sprawling conglomerate into a company focused on chips and nuclear energy. Toshiba also said it would sell its television manufacturing plant in Indonesia, and that eventual job … Continue reading

Royal Dutch Shell – To cut around 2,800 jobs

Royal Dutch Shell Plc said it would cut about 2,800 jobs to meet a pledge of reducing operating costs by $3.5 billion following its takeover of BG Group Plc. That equates to 3 percent of Shell and BG’s combined workforce as The Hague-based company consolidates offices and its administration structure once the acquisition is completed, it … Continue reading

Toshiba – To cut up to 7,000 jobs

Toshiba Corp is looking to cut up to 7,000 jobs, as it looks to streamline operations in the wake of an accounting scandal, the Nikkei business daily reported. Most of the 6,000-7,000 job cuts will be in the company’s lifestyle segment, which includes consumer appliances, the newspaper said. Toshiba is also looking to “drastically” reduce … Continue reading

Mining – Anglo American to Cut 85,000 Jobs 

The pain among energy and mining producers is growing more acute as prices of global commodities continued their collapse on Tuesday.The newest victim is the London-based mining firm Anglo American. On Tuesday, the company announced a drastic restructuring, which includes expanding job cuts, suspending its dividend, reducing its business unit and cutting its assets. Anglo … Continue reading

Lloyds – To cut 945 jobs

Lloyds Banking Group Plc, Britain’s largest mortgage provider, plans to eliminate a net 945 jobs across operations, including staff at its branch network, as part of broader cost cuts announced last year. The cuts are part of a plan to pare about 9,000 jobs by 2017, the London-based bank said on Thursday. The job losses … Continue reading

Maple Leaf Foods – To cut more than 400 jobs, 3% of workforce 

Maple Leaf Foods Inc. (MFI.TO 0.00%) said it would cut more than 400 jobs, or about 3 per cent of its work force, nearly a month after the Canadian meat packer pushed back its timeline for hitting a key profitability target. Maple Leaf, one of Canada’s biggest pork processors, said on Wednesday the majority of the … Continue reading

Job Cuts in Oil and Gas – More than 250,000 around the world

The number of jobs gutted from oil and gas companies around the world has now passed the 250,000 mark, with still more to come, according to industry consultant Graves & Co. “I was surprised it’s gotten this far,” John Graves, whose Houston firm assists in oil and gas deals with audits and due diligence, said … Continue reading

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