Job Market Monitor
Job cuts
Alstom / To cut at least 1,300 jobs
The group said that it would shed at least 1,300 jobs, most of them in Europe, and that it intended to sell part of its railway equipment division and other assets to raise 1.0-2.0 billion euros by the end of 2014 Continue reading
BAE / To cut 1,775 jobs in Britain
British arms maker BAE Systems is set to axe more than 1,000 jobs at its shipbuilding yards in Scotland and southern England Continue reading
US / Mortgage business has announced 49,000 layoffs the first nine months of 2013
Financial firms are cutting tens of thousands of jobs because of a slowdown in the mortgage business, the sluggish economy, the growth of online banking and new regulations. The sector announced 49,000 layoffs the first nine months of 2013, most among all industries, outplacement firm Challenger Gray & Christmas said in a report. Challenger expects … Continue reading
Acer / To cut employee numbers by 7 percent
Acer CEO J.T. Wang is resigning from his post at the Taiwanese PC maker and will be replaced by president Jim Wong as part of a corporate restructuring that will try to revitalize the company’s sagging fortunes. Citing the company’s recent run of poor financial results, Wang said in a statement on Tuesday: “It is … Continue reading
Npower / To axe 2,000 call centre jobs ?
Energy chiefs at Npower were today urged to come clean over growing speculation they are about to outsource 2,000 call centre jobs Continue reading
Encana / To cut workforce by 20 per cent
Canadian natural gas giant Encana Corp. says it will cut its workforce by 20 per cent, close its office in Plano, Texas, and spin off a large portion of its Alberta assets into a separate public company Continue reading
Co-op Group / To close 50 bank branches with “significant” job losses
The Co-operative Group on Monday announced plans to close around 50 of its bank branches as part of a £1.5 billion rescue plan that will give investors majority control of the lender… The move has caused concern among some about whether the bank will be able to retain the ethical approach which attracted many of … Continue reading
Kellogg / To cut about about 2,200 jobs
Kellogg says it plans to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year. The maker of Frosted Flakes and Eggo waffles says it expects earnings per share for the year to be toward the lower end of its previous forecast. According to FactSet, Kellogg has … Continue reading
US / Concern as Environment Agency job cuts estimate rises to 1,700
Waste industry bodies have expressed concerns after the Environment Agency (EA) confirmed an estimated 1,700 staff are likely to be cut between now and October 2014 – higher and sooner than its previous estimates of 1,400 job losses up to 2016. According to an Agency spokeswoman, the current total headcount of staff is 11,400, which … Continue reading
Merck / Job cuts rise by 8,500 to 16,000
Merck job cuts mean the drugmaker is slashing about 20 percent of its workforce. 8,500 jobs will be added to the 7,500 Merck job cuts already announced, bringing the total to 16,000. Continue reading
UK / Two Yorkshire councils cut 1,000 jobs
TWO Yorkshire councils have drawn up plans to cut about 1,000 jobs in a further round of spending cuts. Bradford Council is looking to reduce the number of posts by 696 over the next two years and neighbouring Kirklees Council expects to shed 300 posts next year. Council leaders in Bradford have drawn up budget … Continue reading
Thomson Reuters / To cut 3,000 jobs
Financial news and data provider Thomson Reuters has said it will cut a further 3,000 jobs as part of a continuing cost-saving plan. The latest cuts are in addition to 2,500 job losses announced in February. Like the earlier cuts, the jobs will mainly go in its financial and risk unit, responsible for renting out … Continue reading
Japan Tobacco / To cut 1,600 jobs
Japan Tobacco Inc. (2914) is cutting 1,600 jobs and closing four factories in the country as part of its plan to boost domestic competitiveness and profitability. The job cuts, or about 18 percent of the company’s workforce, will be made through a voluntary retirement program that will be offered to eligible employees in the Japanese … Continue reading
Israel Defense Forces / To cut 4,500
Hebrew daily “Yediot Ahronot” reports that the IDF will fire 4,500 career officers and NCOs by the beginning of 2015 in order to cut costs Continue reading
Sears Canada / To cut nearly 1,000 jobs as 5 stores close
Nearly 1,000 people could be out of work after Sears Canada announced Tuesday it will be closing five stores in the hopes of saving $400 million Continue reading
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