Job Market Monitor
Job cuts
Europe – Kimberly-Clark to cut 1,500 jobs
US personal-care products giant Kimberly-Clark said Wednesday it was exiting its Huggies diaper business in much of western and central Europe, cutting up to 1,500 jobs. Kimberly-Clark Corporation announced it would close or sell five manufacturing facilities and some production would be transferred to other plants. As part of the restructuring aimed at boosting profitability, … Continue reading
Dow Chemical plans 2,400 job cuts
Dow Chemical on Wednesday reported a sharp drop in third quarter profits, hours after saying it planned to cut five percent of its global workforce, or 2,400 employees, and close 20 plants. The company reported quarterly profits of $497 million compared to $815 million the previous year, a 39-percent drop. Dow said Tuesday it aimed … Continue reading
Poland – Polimex to slash workforce by 1,744
Troubled Polish construction firm Polimex-Mostostal has announced plans to fire 1,744 workers by March 2013. The company, which has found itself in dire financial straits, currently employs nearly 10,000. The builder took heavy losses on infrastructure projects in the wake of the Euro 2012 soccer championships, when it signed unfavorable agreements that didn’t allow it … Continue reading
Sanofi – 900 layoffs but could run higher
Sanofi’s (SASY.PA: Quote) plan to restructure its research operations in France could lead to more job losses than the 900 layoffs mooted by the drugmaker, union representatives said. Unions said the company’s figure underestimated the number of job cuts as Sanofi reshuffles its laboratories into regional research hubs at the expense of smaller centers. “There … Continue reading
Weather Channel – 7 percent of its work force laid off
The Weather Channel laid off some 7 percent of its work force today according to independently confirmed reports (Mediabistro first reported the news). The network is owned, as of 2007, by a consortium composed of Bain Capital, NBCUniversal and the Blackstone Group, and is among the most widely-distributed networks on cable. Since the acquisition by … Continue reading
DuPont – 1,500 jobs cut
DuPont reported a lower-than-expected quarterly profit on Tuesday and announced 1,500 job cuts as part of a cost savings program designed to offset falling sales around the world. Shares of the chemical company fell 6 percent in premarket trading. The move by DuPont, a member of the Dow Jones industrial average and the maker of … Continue reading
Human Genome Sciences – Layoffs to continue
The job cuts continue at Rockville-based Human Genome Sciences as the biotechnology company folds its employees and operations into those of the British drugmaker that bought the firm this summer. The latest round of cuts targets 97 employees who were notified of the decision last week. The firm also warned that additional reductions would be … Continue reading
Sony – To trim its global headcount by 10,000 by end-March
Sony Corp said it will cut staff in its headquarters by a fifth and shutter a factory making camera lenses and mobile phones in Japan, providing new details of a previously announced plan to trim its global headcount by 10,000 by end-March. In addition to 1,800 at a chemical business it sold to a state-run … Continue reading
Indiana – Cummins Inc – 126 Layoffs
Cummins Inc. will implement at least 150 layoffs by year’s end in its southern Indiana workforce, the Columbus-based engine maker announced Wednesday. The layoffs will affect workers at the Fuel Systems Plant in Columbus, Columbus MidRange Engine Plant or the Seymour Engine plant, Cummins’ spokesman Jon Mills said… via The Republic – 126 workers also … Continue reading
Saskatchewan – Potash Corp – Longer than normal layoffs
Longer than normal layoffs are coming a spokesperson for Potash Corp said Wednesday after the company ran into problems with contracts, storage space and profits. Bill Johnson said a yet-to-be-determined number of employees will be given the pink slip after the company discovered its 2012 profits will fall well below earlier projections. “We have about … Continue reading
Australia – Mt Gibson Iron cuts 270 mining jobs
Mt Gibson Iron will cut 270 jobs from its mining operations in Western Australia in a bid to cope with volatile commodity prices. The company says most positions will be slashed from its Koolan Island operations off the Kimberley coast. It is believed 140 of those positions will be contractors. In the company’s quarterly report … Continue reading
Sweden – Mass Job Cuts Belie Government Optimism
TeliaSonera AB (TLSN) yesterday became the latest in a string of Swedish companies to announce mass job cuts, prompting economists and unions to question the government’s forecast that unemployment will fall next year. TeliaSonera, Sweden’s biggest phone company, said it will eliminate 2,000 jobs as growth stalls, declining to say how many cuts will be … Continue reading
Alcatel-Lucent – 5,490 jobs cut
French telecom equipment maker Alcatel-Lucent (ALUA.PA) plans to axe 5,490 jobs worldwide as part of a cost-cutting plan announced in July, with 3,300 in Europe and 1,490 in France, a French union said on Thursday. “We are in shock,” said Isabelle Guillemot, of the CFDT union. Alcatel had said in July that it planned global … Continue reading
Abbott Laboratories – 550 Layoffs
A spokeswoman for Abbott Laboratories says the announcement Wednesday of a 550-job reduction in the drug and health care products company’s worldwide workforce will not have an impact on its nutrition products facility in Sturgis. But she said there will be some impact in Sturgis over the next year. That is part of an announcement … Continue reading
FedEx Outlines Broad Cost-Cutting Plans: Layoffs to come ?
FedEx Corp. announced programs targeting annual profitability improvement of $1.7 billion during the next three years. In a keynote speech at FedEx Corp.’s 2012 Investors and Lenders Meeting, Frederick W. Smith, FedEx chairman, president and CEO, said a significant portion of the profitability improvement will come from cost reductions at FedEx Express and FedEx Services… … Continue reading
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