Job Market Monitor
Job cuts
Canada / TVOntario / 35 To 40 Layoffs
Faced with decreased funding from the Ontario government, public broadcaster TVOntario is eliminating 35 to 40 jobs and cancelling a number of TV shows, including the iconic “Saturday Night at the Movies,” the station announced on Tuesday. At the same time, TVOntario plans to focus more heavily on “digital innovation in children’s educational media and … Continue reading
National Irish Bank / 100 jobs go
NATIONAL Irish Bank customers will no longer have access to branches from today when the Danish-owned operation shuts its retail outlets. All 27 branches will shut, with the loss of 100 jobs. Customers will now have to use An Post offices, telephone banking, go online to do their banking or drop into one of the … Continue reading
Atlantic City / Sandy / Layoffs at casinos
Atlantic City’s casinos are struggling to deal with the aftermath of Superstorm Sandy by laying off workers and cutting back the hours of others. The city’s 12 casinos had to close due to the storm for five to seven days in late October and early November. Even after they reopened, business slowed considerably. The Atlantic … Continue reading
Japan / Panasonic To Cut 10K More Workers
The Japanese consumer electronics industry continues to feel the squeeze in the economy, with one of the more painful effects being mass layoffs of workers. In the latest development, Panasonic Corp. says that it will reduce its workforce by 10,000 employees by the end of this fiscal year, which completes in March 2013. The company … Continue reading
Australia / Optus and SingTel / 934 Job cut
SingTel’s Australian subsidiary Optus has shed 184 additional roles outside of its original plan of 750. The company revealed in SingTel’s Q2 results today that it had shed 746 roles in the year between September 30, 2011 and September 30, 2012, which the company had forecast earlier this year as part of a major restructure … Continue reading
Canada / Quebecor cutting some 500 jobs
Quebecor Inc. is cutting some 500 jobs at its Sun Media newspaper division in a move that includes the closure of two production facilities in Ottawa and Kingston. The downsizing is part of the Montreal-based media group’s efforts to reduce annual costs by $45 million. There had been earlier reports Quebecor (TSX:QBR.B) would eliminate the … Continue reading
‘Obamacare Layoffs’ / Overblown ?
“Obama Reelection Triggers Massive Layoffs Across America.” “Job loss an early consequence of election.” “Obama keeps job; others lose theirs.” “The Obamacare Layoffs Begin…” “Top US Companies Plan Layoffs Because of Obamacare.” These are some of the headlines coming out of media sources like the Washington Times, the National Review, and Fox News since President … Continue reading
NBC Universal – To Cut About 450 Jobs
Comcast Corp. (CMCSA)’s NBC Universal is cutting about 450 jobs at several divisions of the broadcast, film and cable company, according to two people with knowledge of the situation. The reductions, some of which have taken place already, amount to about 1.5 percent of NBC Universal’s 30,000 employees, according to the people, who weren’t authorized … Continue reading
Rio Tinto / Layoffs to continue
Global miner Rio Tinto Ltd expects the recent round of layoffs and cost-cutting in Australia to continue as margins shrink due to rising production costs and falling commodity prices, a top executive said on Tuesday. “The rationalisation will continue,” Rio Tinto’s Australia chief executive, David Peever, said at a conference… Choosen excerpts by JMM from … Continue reading
Philadelphia – Hostess closings to cut 627 jobs
The closures in Seattle, St. Louis, and Cincinnati spared Hostess’ Northeast Philadelphia bakery, where 330 members of Local 6 of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union stopped working at 12:01 a.m. Saturday to protest wage and benefit cuts approved last month by a bankruptcy judge. “We’re fighting for our pensions, we’re … Continue reading
Europe | What Next for Airlines?
Despite relentless consolidation in the European airline industry over many years, few national carriers have disappeared entirely. Hungary’s Malev went bust earlier this year. Belgium’s Sabena is long gone. But most live on even if they have been absorbed by bigger rivals. Still, rarely has the pressure to cut costs to save national carriers proved … Continue reading
Dallas | Wingspan Portfolio Advisors issues layoff to 459 employees
Wingspan Portfolio Advisors, a Carrollton-based loan servicing company, will layoff more than a quarter of its workforce at the end of the year. Wingspan issued a Workers Adjustment and Retraining Notification Act (WARN) letter on Nov. 5 to the Texas Workforce Commission informing them all 459 employees at the Dallas location will be terminated effective … Continue reading
UK | Southampton | Up to 300 job cuts
Up to 300 jobs will be cut by Southampton City Council when it publishes its budget later, according to trade unions Unison and Unite. The Labour-run council needs to find savings of about £30m for 2013-14 and has pledged to restore the pay of workers cut by the former Tory regime. Labour councillor Simon Letts … Continue reading
ILVA | Temporary layoffs of 2000
ANSA reported that troubled steel manufacturer ILVA warned that it will seek judicial relief from environmental shutdown orders, complaining it can’t make any business plans while the orders are in place. Mr Bruno Ferrante president of ILVA complained in a letter to the ministry of environment that “This company cannot, at present, make any declaration … Continue reading
SAS | To cut nearly 6,000 jobs
Loss-making airline SAS will shed nearly 6,000 staff through cuts and asset sales to secure loans from banks and Nordic governments to help it survive a global downturn and fierce competition. SAS (SAS.ST), one of the European flag-carriers being squeezed by discount carriers such as Ryanair (RYA.I) and Norwegian (NWC.OL), has not made a full-year … Continue reading
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