Job Market Monitor
Job cuts
Lockheed Martin / 300 to 500 voluntary layoffs
Lockheed Martin Corp. announced a targeted, voluntary layoff program for midlevel employees working at the company’s Information Systems & Global Solutions unit. In a memo sent to employees on Jan. 31 and posted on career news website Dice.com, Patricia Lewis, Lockheed Martin’s vice president for human resources at the Information Systems and Global Solutions business … Continue reading
Fujitsu / To Cut 5,000 Jobs
Fujitsu Ltd., a Japanese maker of computers, network equipment and mobile phones, will eliminate 5,000 jobs and merge its LSI chip business with that of Panasonic Corp. to boost global competitiveness. The venture will design large-scale integration, or LSI chips, and contract out their manufacture, according to a joint statement the companies released yesterday. The … Continue reading
HMV / 930 layoffs as 66 stores close
Almost 1,000 HMV staff are facing redundancy as administrators for the failed music store chain revealed they will close 66 shops across the country. The loss-making stores, including all five Edinburgh sites, three in Glasgow and four in London, will close over the next two months and comes as administrators from Deloittes plan to sell … Continue reading
J.C. Penney / Layoffs at headquarters to come
J.C. Penney (JCP) is planning layoffs at its headquarters in Plano, Texas, according to reports Wednesday. The expected layoffs were first reported by the New York Post, which said chief executive Ron Johnson plans a 10% cut of the 3,000 employees who work at the home office. J.C. Penney already let go 600 workers in … Continue reading
DreamWorks Animation / Layoffs to come
DreamWorks Animation SKG Inc., the Glendale-based entertainment company led by Hollywood film veteran Jeffrey Katzenberg, is expected to lay off up to 20% of its 2,200-employee workforce, following a decision to shelve production of the movie “Me and My Shadow.” The animation industry giant, home of the animated “Shrek,” “Kung Fu Panda” and “Madagascar” films, … Continue reading
Heinz / Plans 80 layoffs at Idaho factory
The H.J. Heinz Co. plans to lay off 80 full-time employees at its Pocatello, Idaho, factory in March, following the discontinuation of the T.G.I. Friday’s frozen meal line. “The factory also will be adjusting its production schedule to maximize efficiency and effectively manage costs,” according to a statement from the Pittsburgh food company. The factory, … Continue reading
Spain / Iberia workers on strike over layoffs
Labor unions representing most workers in Spain’s Iberia airline have called 15 days of strikes to protest the company’s plans to lay off 4,500 workers. The stoppages by Iberia’s ground staff and cabin crews will be held Feb. 18-22, March 4-8 and March 18-22. Raul Melero of the USO union said Wednesday that the strikes … Continue reading
Pennsylvania / Budget proposes pension reform, 400 layoffs plus the elimination of 500 other positions
Gov. Tom Corbett today asked his Republican-controlled Legislature for pension reform, transportation investments and a $90 million increase in basic education funding in his 2013-14 budget. The Republican governor’s $28.4 billion blueprint, if approved by lawmakers, is $679 million higher than the current year’s budget and includes no tax increase. It does, however, propose 400 … Continue reading
Volvo / New job cuts to come
Volvo AB, the world’s second-largest truckmaker, said fourth-quarter profit dropped 84 percent because of the cost of cutting jobs and reorganizing production in response to shrinking economies in Europe and the U.S. Earnings before interest and taxes fell to 1.12 billion kronor ($177 million) from 6.96 billion kronor a year earlier, Gothenburg, Sweden-based Volvo said … Continue reading
Stora Enso / To slash 600 jobs
Nordic paper maker Stora Enso Oyj says that despite strong fourth quarter earnings it will slash 600 jobs due to the weak European economy. Stora Enso says most of the job cuts will take place in Sweden, where it will permanently shut down two paper machines by the end of June. The company also intends … Continue reading
Symantec / Layoffs to come
Symantec Corp, which completed a strategic review in January, plans to lay off a significant number of managers and reorganize internally into 10 main business areas, but has decided not to sell off major assets for now. Chief Executive Officer Steve Bennett told Reuters in an exclusive interview that Janice Chaffin, consumer business president, will … Continue reading
NY Thruway / 234 layoffs
The New York State Thruway Authority is planning 234 layoffs to help shore up its finances, but no toll increases are planned. Thruway spokesman Dan Weiller says the layoffs of full-time workers will be in all regions, including the Albany headquarters. The authority employs 2,968 workers. Weiller says no toll increases of any type are … Continue reading
Israel / GE planning wide-scale layoffs
Corporation to fire about half of 500 employees in healthcare division’s R&D centers in Israel, company worker tells Ynet. Management sources say only 10% of workforce to be dismissed According to a company source, more than half of the division’s 500 employees in all research and development centers in Israel will be fired. The company … Continue reading
Lloyds / 38,000 jobs cut since HBOS rescue
The job toll at Lloyds Banking Group since the rescue of HBOS has reached 38,000 after another 940 cuts were announced. “This is a bleak start to the year for hard-working Lloyds employees and bad news for the UK economy on a day when the small fall in the numbers unemployed was supposed to be … Continue reading
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
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