Job Market Monitor
Job cuts
Oscar maker plans layoffs
The Chicago company that makes the familiar gold-plated Oscar statues is laying off almost 100 employees as it’s bought by a Canadian firm. But some workers could be rehired. R.S. Owens & Co. Inc. said this week in a notice to the Illinois Department of Commerce that it will lay off 95 workers on Dec. … Continue reading
US / Offshoring / About 663,000 large-company service jobs heading offshore
Service companies have been sending jobs abroad in large numbers the past decade to cut labor costs — a trend that accelerated in the recession and is expected to continue the next few years before slowing after 2016. About 663,000 large-company jobs in information technology, human resources, finance and purchasing — the category that includes … Continue reading
Fiat / To slash 1,500 jobs in Poland
Italian carmaker Fiat said Friday it would slash 1,500 jobs in a plant in Poland due to falling demand for small cars in the European market. Output in Tychy, southern Poland, was projected to fall below 300,000 vehicles next year, down from 600,000 in 2009, Fiat said in a statement. The company summoned Polish unions … Continue reading
UK / Army / Redundancies and cuts ‘hurting’ forces personnel
The Government has been warned that service personnel are “hurting” because of redundancies and cuts as further details of a scheme to boost support for the armed forces were revealed. Defence Minister Andrew Robathan announced that more than £423,000 had been allocated to 13 bids in England for local projects funded through the community covenant … Continue reading
Finance / 300,000 jobs gone in the past two years, more than half a million in four years
Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over. Citigroup Inc. (C)’s announcement yesterday of plans to eliminate 11,000 positions in units spanning equities trading to consumer banking is the latest sign of strain from a market slowdown, stiffer … Continue reading
UK / NHS Direct call centre closures / 1,500 jobs at risk in say unions
Almost 1,500 jobs are at risk because of the replacement of NHS Direct, the nursing union has said. The Royal College of Nursing said NHS Direct would close 24 of its 30 call centres and it had emerged in a consultation that up to 1,482 “wholetime equivalent” staff could lose their jobs. Instead the public … Continue reading
Nokia Siemens Network / 1,000 jobs at risk
Nokia Siemens Networks, a joint venture between Finnish and German engineering giants Nokia and Siemens, said Wednesday it will shut down its German networks services unit, putting 1,000 jobs at risk. “Nokia Siemens Networks is planning to close its German unit Nokia Siemens Networks Services, a network infrastructure services provider in the area of traditional … Continue reading
China / LG starts layoffs
LG’s mobile arm may be slowly turning things around internationally, and getting even its main competitor’s appreciation in the process, but China is different. At least that’s what can be gathered from LG’s woes over there. The Korean company has started laying off employees in 26 offices in China. This comes as LG’s market share … Continue reading
Citigroup / To cut 11,000 jobs
Citigroup Inc. will cut 11,000 jobs and take a $1-billion pre-tax charge to its fourth-quarter earnings as it tries to reduce costs and reposition itself under new corporate leadership. The job cuts — including closing 44 U.S. consumer banking branches — will save $900 million in 2013 and produce $1.1 billion in annual savings in … Continue reading
Reebok / Cuts 150 jobs worldwide
Reebok International Ltd. said Tuesday that it is cutting approximately 65 positions from its Canton headquarters, just under 7 percent of the struggling athletic apparel maker’s workforce there, as part of a restructuring. Worldwide, Reebok will eliminate 150 jobs, including by closing its European office in Amsterdam and the Asia-Pacific office in Hong Kong. In … Continue reading
Canadian Pacific cutting 4,500 jobs and move Calgary headquarters
Calgary-based Canadian Pacific Railway has announced plans to cut 4,500 jobs by 2016. The railway said Tuesday the jobs would include both employee and contractor positions. CP said it expected to eliminate 1,700 positions over the next month. The firm said the cuts would include job reductions, natural attrition and using fewer contractors. The cuts … Continue reading
UK / Friends Life to cut a further 150 jobs
Friends Life is making around 150 staff redundant as part of a new round of cost cutting. The provider says it has not yet decided which departments will suffer cuts, adding it will inform staff in due course. As well as the job losses, Friends Life has around 50 job vacancies it will no longer … Continue reading
New York Times / Layoffs Loom Again
Less than two months after protracted contract negotiations came to a close between the New York Times Company (NYSE: NYT) and the Newspaper Guild, the nation’s newspaper of record is looking to make some difficult cuts. Jill Abramson, executive editor of the Times, sent a letter to the paper’s staff requesting buyouts from 30 non-union … Continue reading
British Airways / To cut 400 cabin crew jobs
British Airways is looking to shed 400 senior cabin crew jobs. But the airline stressed that there would be no compulsory redundancies. A BA spokesman said the airline had entered into a 90-day consultation with the Unite union about the possibility of making voluntary redundancy available to 400 cabin crew staff. Those being offered the … Continue reading
The Daily’s Final Edition / About 100 Employees
JOHN BIGGS spoke to a person inside The Daily who held a $40,000 reporter position for the now shuttered “daily iPad newspaper.” While not completely blindsided, they had little inkling of what was going on inside the paper but there was always an undercurrent of doubt. “When the layoffs happened in the summer,” the said. … Continue reading
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