Job Market Monitor
Job cuts
Ireland / AIB / Target of 2,500 lay-offs by 2014
ALLIED Irish Banks (AIB) has said it expects to hit its target of 2,500 lay-offs by 2014. More than 1,000 staff have left under a voluntary scheme, including early retirement, with another 700 to go by the end of December. In an interim management statement, AIB said it expects to see bad debt provisions for … Continue reading
Las Vegas / Retama / About 296 employees have received layoff notices
About 296 employees at Retama Park have received layoff notices as a Las Vegas casino company continues its quest to acquire the Selma racetrack — but that doesn’t mean hundreds will lose their jobs. Angela Cooper, director of human resources for Retama Entertainment Group, which has provided management services at the track, said the layoff … Continue reading
US / All Time Biggest Layoffs
Hewlett-Packard It’s hard to top, or bottom, the recent mass firings by past-its-prime Silicon Valley stalwart Hewlett-Packard. The last few years have been dreadful for the computer manufacturer. Longtime CEO Carly Fiorina was shoved out the door after a disastrous merger with Compaq. Her successor Mark Hurd followed suit after a sex scandal, and his … Continue reading
Spain / Bankia cuts 6,000 jobs
Spain pushed forward on Wednesday with a major overhaul of the country’s stricken banking sector after Brussels approved EU-funded restructuring plans, and with nationalised Bankia saying it will slash 6,000 jobs and is set for a huge loss. Meanwhile the Bank of Spain delivered more bad news on the overall economy, saying country appears stuck … Continue reading
Denmark / Saxo Bank to cut 266 jobs (17,5% of workforce)
Denmark’s Saxo Bank is to cut its workforce by 17.5 percent because of reduced trading activity, a source close to the company told Reuters. A total of 266 of the bank’s 1,513 employees will lose their jobs,” the source said. The bank declined to comment until after it had released a statement later on Tuesday. … Continue reading
UK / Derby City Council cuts another 350 jobs
A further 350 jobs are to go at Derby City Council, taking the total number of cuts to 1,000 in three years. The cuts have been announced as council bosses said the authority needed to reduce its budget by £63m by 2015. City council leader Paul Bayliss said it was also looking at other ways … Continue reading
Italy / 20,000 jobs threatened at ILVA plant
Workers stormed Europe’s biggest steel plant ILVA, which faces closure over allegations of an environmental disaster, as Italy’s government raced to save 20,000 threatened jobs. Management closed the factory’s cold rolling facility, which produces finished steel plates, strips and pipes, after a Monday court ruling to seize the plant’s steel output, which the company said … Continue reading
Canada / Defense / CFB Borden cuts 120 jobs
Sixty per cent of the cleaning staff at Canadian Forces Base (CFB) Borden will lose their jobs Dec. 31, the Public Service Alliance of Canada says. Wednesday morning, PSAC will host a news conference to discuss the cut, which will impact 120 people who work for contractor Koprash Inc. “This news is devastating. Yet, these … Continue reading
France / SFR telecom may cut 1,100 jobs
SFR, the French mobile-telephone unit of media and telecom group Vivendi SA , may cut 1,100 jobs as market conditions grew more difficult for the company after telecom firm Iliad ILIAF +2.62% launched a low-cost mobile-telephone service this year, newspaper Les Echos reports Monday citing a labor union official. The company, which is due to … Continue reading
UK / Tata Steel to cut 900 jobs
India-based Tata Steel Ltd. Friday announced plans to cut about 900 jobs at its U.K. operations as part of a wider restructuring. “Today’s proposals are part of a strategy to transform ourselves into an ‘all-weather’ steel producer, capable of succeeding in difficult economic conditions,” Karl Koehler, chief executive of Tata Steel’s European operations, said in … Continue reading
South Africa / Possibly above 10,000 and maybe higher mining jobs cut
South Africa’s mining industry is likely to see mass job cuts following violent strikes that drastically reduced production of gold and platinum, the head of the national mining industry body said on Friday. Bheki Sibiya, chief executive of the Chamber of Mines, said he expected thousands of job cuts in the industry, “possibly going above … Continue reading
France / Société Générale could outsource 400 jobs
Societe Generale (SOGN.PA), France’s No. 2 listed bank by value, is considering outsourcing 400 back-office jobs at its corporate and investment bank, according to internal memos seen by Reuters. The plan, in which consulting company Accenture (ACN.N) would take on staff working mainly in custody and securities services, could be extended to other businesses, such … Continue reading
Bridgestone / More than 500 jobs cut in Europe
Bridgestone announced it will cut almost 500 jobs in Europe due to sluggish tire sales. Most part of the job cuts, 442 from the total of 510, will be made in Spain, where Bridgestone has three plants, while the rest of the jobs will be cut from the company’s plant in Bethune, France. In Europe … Continue reading
ING / 2,350 jobs cut
ING Groep NV, the biggest Dutch financial-services company, will cut 2,350 jobs in its banking and insurance units after reporting a 64 percent slump in third-quarter profit. Photographer: Jock Fistick/Bloomberg Chief Executive Officer Jan Hommen is under orders to sell its insurance operations by the end of next year after ING received a 10 billion-euro … Continue reading
Germany / Hochtief to cut 700 jobs
Hochtief plans to cut about 700 jobs because of weak orders at its construction and facility management business Hochtief Solutions in Germany, a weekly magazine reported. The jobs will be cut at the company’s offices in Hamburg, Berlin, Munich and the Rhein-Main region surrounding Frankfurt in 2013, Wirtschafts Woche, citing company sources, said in a … Continue reading
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