Job Market Monitor
Job cuts
Kalshnikov Maker – Layoffs To Come
Russia‘s troubled maker of the iconic Kalashnikov assault rifle faces layoffs and a possible merger with another arms manufacturer, a media report said Tuesday. The Russian army last year failed for the first time to order new AK-47s, of which it says it already has 17 million in stock, a massive supply for its 1 … Continue reading
Alcatel-Lucent – More Job Cuts Might Come
Alcatel-Lucent SA (ALU) Chief Executive Officer Ben Verwaayen will need to eliminate an additional 10,000 positions to catch up with more efficient rivals as the unprofitable phone-equipment maker’s cash pile dwindles. Even taking into account the 5,500 job cuts announced in October, Alcatel-Lucent’s revenue per employee was 49,700 euros ($63,600) last quarter, at least 14 … Continue reading
London – Financial sector to cut 13,000 jobs in 2013
London’s financial sector will lay off 13,000 staff in 2013, cutting employment in a key UK economic sector to a 20-year low, as job vacancies also drop in Europe and even Asia, studies showed. Financial firms in Europe’s biggest financial center have laid off more than 100,000 employees since a market peak in 2007, driven … Continue reading
NE – Shaw to cut 700 jobs
Shaw’s Supermarkets on Friday announced plans to cut about 700 jobs at 169 Shaw’s and Star Market stores in five New England states. About 90 employees affected by the layoffs have already been notified, and the rest will be informed over the next several days, the company said. “A decision of this nature is never … Continue reading
US – Hospital mass layoffs for 2012 expected to match 2011’s numbers
Thirteen mass layoffs occurred in hospitals in September, affecting 817 people, according to a monthly report released Oct. 23 by the U.S. Bureau of Labor Statistics. If numbers hold steady for the remainder of 2012, the industry is on track to have a similar annual count of mass layoffs as it did in 2011. Ninety-three … Continue reading
Sweden – SCA to cut 1,500 jobs
Swedish hygiene and paper products maker SCA is to cut jobs, affecting 1,500 people, as part of a move to reduce annual costs by around 300 million euros ($385 million)… “About 1,500 employees are affected and costs are expected to be some 100 million euros,” chief executive Jan Johansson said in a statement ahead of … Continue reading
St. Paul, Minnesota – St. Jude Medical cutting 500 jobs
St. Jude Medical said Thursday that it has laid off another 500 people as it restructures to deal with slumping sales of its heart devices. In August, St. Jude said it had terminated 300 employees, including 80 in Minnesota, as part of a broader companywide reorganization expected to slash $50 million to $60 million in … Continue reading
Australia – Holden 170 jobs cut
Australia’s ailing auto industry has suffered another blow with car maker Holden axing 170 jobs just a day after a key component manufacturer closed its doors and stood down about 400 workers. Holden said falling demand for its locally built vehicles, due to the high Australian dollar, had forced its hand. The company said the … Continue reading
UK – Comet – 6,000 layoffs ?
More than 6,000 jobs are at risk as the troubled high-street electricals chain Comet teeters on the edge of administration. Comet, the UK’s second largest electrical specialist after Dixons, has struggled to make headway as supermarkets and online retailers such as Amazon targeted the cut-throatmarket, and could go into administration as soon as Thursday. It … Continue reading
California – Burbank – More Than 175 Layoffs to hit local entertainment industry
More than 175 employees at entertainment-related companies in Burbank likely will be laid off starting in December, many as a result of outsourcing custodial services, studio representatives said. Sixty-seven workers at Walt Disney Studios — mostly janitors, along with a few floor waxers — were given notices that will go into effect by Dec. 1, … Continue reading
Spain Airports – 1,600 layoffs
Spain’s public airport operator AENA said Wednesday it had agreed to make 1,600 voluntary redundancies, which could see more than one in 10 of its staff cut by the end of the year. The authority said in a statement it had agreed with unions to offer redundancy packages for up to 1,600 of its 15,000 … Continue reading
Gaming – Layoffs everywhere
It’s been a week of bad news in the gaming world, so lets get through this together. Zynga laid off 5% of their staff this week in an attempt to shore up their bottom line. They closed a Boston office, reduced staff in Austin and have proposed shutting down shops in the UK and Japan. … Continue reading
Canada – Via Rail – CAW Questions Lay-offs and Cutbacks
CAW opened negotiations with VIA Rail this afternoon in Montreal, raising concerns about recent lay-offs and route cuts. “VIA Rail has suffered a number of very serious funding cuts from the federal government over the last few years, a situation that’s getting worse, not better,” said CAW President Ken Lewenza. He said that VIA Rail … Continue reading
Switzerland – Lonza to Cut Jobs
Lonza Group AG (LONN) said it plans to cut 500 jobs, including 400 at a Swiss site that manufactures chemical intermediates and active pharmaceutical ingredients. Most of the job losses will come from internal transfers, natural attrition, early retirements and by not extending temporary contracts, the Swiss supplier to the pharmaceutical industry said today in … Continue reading
Panasonic – $9.6-billion loss and cutting jobs
Panasonic May Cut More Jobs as TV Maker Sees $9.6 Billion Loss Panasonic Corp. (MAT1), Japan’s third- biggest employer, eliminated almost 39,000 jobs in the past year, and its chief financial officer said the TV maker doesn’t plan another round of cuts. Investors say it has to. Even after reducing its workforce by about 11 … Continue reading
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