Job Market Monitor
Job cuts
Indonesia – Kalimantan Mine – Layoffs may loom ahead
Coal miners in Kalimantan are balking as the global coal price falls, saying their local production has taken a hit and they may need to fire some workers. Mr Eko Priyatno local chairman of the Coal Mining Association said that the 30% decline in the global coal price could push mining companies toward massive layoffs. … Continue reading
iPad – The Daily Plans Layoffs
The Daily, a tablet-only publication introduced with much fanfare last year by Rupert Murdoch of the News Corporation and the Apple executive Eddy Cue, said Tuesday it would lay off almost one-third of its 170 full-time staff members. The news, first reported by All Things Digital, comes as the News Corporation prepares to split its … Continue reading
RIM closes Boston store
Canadian company Research in Motion has closed one of the company’s retail locations, a BlackBerry store in Boston, but says a decisions has not yet been made on the other ones. RIM has a few retail locations across Canada and the United States, including a handful of airport kiosks. Citing unnamed sources close to the … Continue reading
Yediot Plans Dozens of Layoffs
One of Israel’s most prominent daily Hebrew newspapers, Yediot Aharonot, will lay off dozens of journalists. The downsizing comes in an era when newspapers worldwide are experiencing cuts. Yediot’s layoffs will include senior staff members and veterans of the organization, according to Israeli business publication Globes. The cuts will affect the paper’s health and travel … Continue reading
Philadelphia Orchestra Exites Bankruptcy
The orchestra stunned the arts community when it became the first major U.S. orchestra to file for Chapter 11 bankruptcy protection in April 2011. Under the reorganization plan, the 111-year-old symphony will shrink from 105 musicians to 95 and cut their pay by about 15 percent. The orchestra also got a break on its rent … Continue reading
Michigan – Unemployment agency laying off up to 400 workers | MLive.com
The state is laying off up to about 400 employees in its unemployment insurance agency, ironically citing an improved economy as the reason for the cuts. Michigan’s Unemployment Insurance Agency will give two-week layoff notices to up to 225 permanent staff members on Aug. 31. Another 177 limited-term employees have been laid off, said Mario … Continue reading
Australia – Rio Tinto to Cut Jobs
Rio Tinto PLC is cutting jobs at its regional headquarters in Melbourne and closing an office in Sydney as the Anglo-Australian mining giant moves to contain costs, two people familiar with the matter said Tuesday. The restructuring is the latest sign that Australia’s mining boom is running out of steam as China’s economy slows and … Continue reading
Unknown number of layoffs hit several studios in Seattle area
WB Games Seattle, which is composed of Monolith Productions, Snowblind Studios and Surreal Software have been hit with an unknown number of layoffs today. A source close to the studio confirmed to Joystiq that the Seattle team has been affected. Nothing concrete has been announced as of yet, though earlier layoffs saw around 60 people … Continue reading
Deutsche Bank – 1,900 jobs cut
Deutsche Bank said Tuesday it plans to cut about 1,900 jobs, most of them outside Germany, as its earnings fell 46 per cent in the second quarter as the European debt crisis hurt its investment banking and trading activities. The bank, which employs nearly 101,000 people, said about 1,500 of the job cuts will be … Continue reading
Qantas – 164 jobs cut with engine plant closing
Qantas and its airline partner Lufthansa have confirmed that the decision to close their engine plant at Tullamarine will mean the loss of 164 airline maintenance jobs. The union which covers many of the employees, the Australian Workers Union, says it hopes it can save the plant along with the jobs. The Qantas engines which … Continue reading
UK – IBM confirms dozens of layoffs
IBM is to lay off dozens of workers in the UK, the company has confirmed. The confirmation followed a story in The Register, which suggested that up to 100 employees in IBM’s Strategic Outsourcing Delivery unit could be made redundant. “Change is constant in our industry and transformation is a permanent feature of our business … Continue reading
Citigroup – 350 Job Cuts in Securities Division
Citigroup Inc. (C), the third-biggest U.S. bank, plans to cut about 350 additional jobs this year from the securities division, which includes investment banking and trading, according to a person with knowledge of the matter. The reduction equals about 2 percent of the unit’s staff, according to the person, who asked for anonymity because the … Continue reading
Credit Suisse – Another Round of Layoffs
Credit Suisse Group is laying off another 138 employees in the New York region beginning next month, the third round of layoffs it has made this year. The cuts, mentioned in a filing Wednesday with New York State’s Department of Labor, follows an announcement by Switzerland’s second-biggest bank the same day of a 15.3 billion … Continue reading
Karstadt – 2,000 job cuts
Karstadt, the German department store chain owned by Nicolas Berggruen, the billionaire investor, plans to cut 2,000 jobs by the end of 2014. Karstadt plans to cut jobs and streamline old structures and processes in light of the “the challenging market conditions brought about by the euro zone crisis”, the company said on Monday evening. … Continue reading
Australia – Ford slashes 15 percent of workforce: 440 jobs gone
Ford Motor Co’s (F.N) Australian unit announced plans on Tuesday to cut up to 440 jobs, or about 15 percent of its workforce, and slash production by almost 30 percent to cope with a slide in popularity of its top model, the Falcon. Australian car manufacturers have enjoyed solid sales over the past year despite … Continue reading
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