Job Market Monitor
Job cuts
American Express / 5,400 jobs to be cut
American Express Co. said Thursday that it will slash about 5,400 jobs, mainly in its travel business, as it seeks to cut costs and transform its operations as more of its customers shift to online portals for booking travel plans and other needs. The job cuts will be partly offset by jobs that the company expects to … Continue reading
UK / Honda cuts 800 jobs at Swindon
Honda is cutting 800 jobs in Swindon as the shrinking European car market forces the company into its first ever UK job cuts. Honda blamed the slump in European sales as it announced it will cut its Swindon workforce by almost a quarter, months after hiring hundreds of new employees. “It’s entirely the car market,” … Continue reading
Morgan Stanley / 1,600 layoffs to come
The Wall Street investment bank is cutting 1,600 staff, with about half the reductions coming from outside the US. The bank employs several thousand people in the City. Chief executive James Gorman warned late last year that the investment banking industry still had “way too much capacity and compensation is way too high”. The cuts … Continue reading
Redundant / Am I now nothing ?
Redundant 1. No longer needed or useful – superfluous; 2. Able to be omitted without loss of meaning or function. I have now lived through 683 days of redundancy, each one against my embattled will. Like 26 million people across the EU, I long, desperately, to fall asleep with the contentment and exhaustion of a … Continue reading
Payless ShoeSource / Topeka / 45 layoffs at headquarters
Payless ShoeSource announced Tuesday the layoffs of 45 people from its headquarters on S.E. 6th. A statement from the company said an additional 97 open positions wouldn’t be filled. The unfilled positions are from various parts of Payless ShoeSource’s global operations, the statement said, and it wasn’t clear how many of those jobs are in … Continue reading
Lexmark / 550 Layoffs
“Difficult decisions need to be made.” That’s what Lexmark’s executive vice president Marty Canning said about the company’s recent layoff of 550 workers in Lexington, KY, we learn in “Lexmark in Midst of Major Change” from the Lexington Herald-Leader. Under pressure from a shifting industry, the company has chosen to shift with it. Based in … Continue reading
Panasonic / Layoffs to come
Japan’s Panasonic Corp may see its headcount fall further and may sell non-core money-making business units to raise cash, president Kazuhiro Tsuga told reporters at the CES consumer electronics show in Las Vegas on Tuesday. Hammered by competition from South Korean rivals such as Samsung Electronics, Panasonic may also squeeze wages and seek joint ventures … Continue reading
UK / Network Rail to cut 4,000 jobs
Network Rail has unveiled huge investment plans to develop the UK’s railway infrastructure between 2014 and 2019, involving the centralisation of its signalling operations to save millions of pounds and drastically reduce its frontline workforce over the next fifteen years. The mammoth Strategic Business Plan for England and Wales places heavy emphasis on the role … Continue reading
UBS / Another 2,000 to 3,000 job cuts ?
SWISS banking giant UBS may be facing another 2,000 to 3,000 job cuts as it slashes its capital- intensive businesses, according to Deutsche Bank. Choosen excerpts by Job Market Monitor from via UBS faces jobs cull – News, Frontpage – Herald.ie.
Hamilton Entertainment and Convention / Jobs for more than 800 staff still uncertain
There’s still uncertainty among HECFI’s more than 800 staff over what will happen to their jobs when Copps Coliseum, Hamilton Place and the convention centre change hands, a move that could happen as soon as March 1. Hamilton Entertainment and Convention Facilities Inc. has 52 full-time and about 800 part-time employees. All are nervous about … Continue reading
Disney / Layoffs could come
Walt Disney Co (DIS.N: Quote), which reported record earnings in November, started an internal cost cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters. Disney, whose empire spans TV, film, merchandise and theme parks, is exploring cutbacks in jobs no … Continue reading
Finland / Moventas Gears: Layoffs to come
Moventas Gears – the Finnish gear maker owned since last year by Scottish engineering group Clyde Blowers – is in discussions with staff over the implementation of temporary layoffs, which it blames on an “insufficient order backlog” for early 2013. Last year Moventas nabbed an €80m ($106m) contract to supply gearboxes for Areva’s 5MW offshore … Continue reading
Spain / Banco Novagalicia: 2,508 layoffs
The Banco Novagalicia involved in the Spanish banking crisis has presented a restructuration plan providing for 2,508 workers to be laid off by 2017 and 327 offices to be closed by 2015. Unions have criticized the plan and said the bank did not promote any negotiation and have organized a strike and demonstration on January … Continue reading
UK / Penguin Books publisher to close apprenticeship unit: 5,000 apprentices and 500 jobs could be cut
The media and education group, which also owns publisher Penguin Books, said that changes to the way apprenticeship schemes are funded had had a “radical” impact on demand for the courses offered by Pearson in Practice, which are tailored to specific industries and each last between three months and a year. Around 5,000 apprentices signed … Continue reading
Greece / Hellenic Telecommunications Organization (HTO) / 1,500 Jobs Cut
Greece’s Hellenic Telecommunications Organization (HLTOY) said Monday around 1,500 workers took part in its voluntary redundancy plan, enabling the company to reduce operating costs significantly and improve its competitiveness. The company estimates that its costs will be reduced by 80 million euros ($104.5 million) annually. Since the beginning of January, “the number of OTE employees … Continue reading
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