Job Market Monitor
Job cuts
Air Transat – Layoffs if no agreement is reached with union
Montreal charter carrier Air Transat A.T. Inc. has advised its flight attendants’ union of impending layoffs unless members agree to unpaid leaves of absence and other job-loss mitigation measures. In a memo obtained by The Gazette, Nathalie Legault, assistant to the vice-president for inflight service and commissary, advised its 1,800 flight attendants on July 6 … Continue reading
Actelion Plans – 135 Jobs cut
Actelion Ltd. (ATLN) plans to cut 135 jobs and refocus research on rare diseases and specialty pharmaceuticals as sales decline for the company’s best-selling product, the Tracleer blood-pressure drug. The cost savings will reduce research spending, and some projects will be stopped, the Allschwil, Switzerland-based company said in a statement today. Actelion will take a … Continue reading
Peugeot Citroen – 8,000 jobs cut
French carmaker Peugeot Citroen has set out plans to cut 8,000 jobs and close an assembly plant outside Paris as losses mount. Peugeot said the Aulnay plant near Paris, which employs 3,000 workers, would stop production in 2014. Last week, Peugeot said its first-half sales had fallen 13% amid a “profound crisis” in its eurozone … Continue reading
Australia – 900 court, prison jobs to go Opposition Leader John Robertson says
Opposition Leader John Robertson says confidential NSW Treasury documents show an estimated 881 jobs will be cut from prisons and courts. Opposition Leader John Robertson said confidential NSW Treasury documents showed an estimated 881 jobs would be cut from the sector over the next four years. ‘These job cuts will impact on security, they will … Continue reading
Bank of America – A New Round of Layoffs
Bank of America Corp (BAC: 7.64, +0.16, +2.12%) has been cutting jobs in its commercial banking unit in recent weeks even as it tries to boost the group’s business, people familiar with the situation said, reflecting the bank’s broader struggles to grow in a tepid economy. The job cuts are the latest round in the … Continue reading
EMI Music Publishing – Layoffs Begin
Chief executive Roger Faxon is one of 30 to 40 staffers to lose their jobs as a Sony/ATV-led consortium integrates the two companies. As expected, layoffs have begun at EMI Music Publishing, in the wake of the completion of the company’s acquisition by a Sony Corp. of America-led consortium on June 29. At that close … Continue reading
Capital Health – 175 Layoffs at Hopewell and Trenton hospitals | NJ.com
Capital Health officials confirmed today that approximately 175 employees at its Trenton and Hopewell hospitals will be laid off. The workers, including those in finance, management and technical areas like radiology, began receiving layoff notices yesterday. Doctors, nurses and other employees directly involved with patient care will be largely spared, but some supervisory nurses may … Continue reading
Bayer CropScience plans layoffs at its Institute plant
Bayer CropScience plans to lay off more than 200 workers at its Institute plant by the end of the year. Bayer says 163 workers will be laid off in the first phase, which will begin Sept. 7. The cuts are expected to continue through the rest of the year. Media outlets report that Bayer notified … Continue reading
Lockheed’s warning of possible layoffs
Lockheed Martin is among a group of defense contractors who say that federal and state law would require them to tell hundreds of thousands of employees they could lose their jobs should the Obama administration and Congress fail to avert automatic defense reductions of $500 billion over a decade, starting Jan. 2… via Lockheed’s warning … Continue reading
Hewlett-Packard Begins Layoffs at Factory
Hewlett-Packard confirmed that it has begun eliminating jobs at its Rio Rancho center as part of its restructuring plan. Image via CrunchBase The company did not provide the actual number of job cuts, but some sources said that the company will fire a total of 100 workers from all departments at this facility. Hewlett-Packard announced … Continue reading
Germany – Mass layoffs at the Neckermann
The Neckermann mail order company will close down the whole of its central warehouse in Frankfurt and its textile business at the end of 2012. As already announced in late April, the mail order company, founded in 1950, intends to cut 1,380 of its 2,100 jobs in Frankfurt by the end of the year. Eight … Continue reading
Best Buy – 2,400 layoffs
Best Buy is laying off 2,400 employees chainwide, a company spokesman said Friday. There was no word about whether Kansas City-area employees would be affected, but no additional stores will close as part of the layoffs. Bruce Hight, a spokesman for Best Buy (NYSE: BBY), said the layoffs will affect about 600 employees of Geek Squad, … Continue reading
How many more jobs would we have if the public sector hadn’t been shedding jobs for the last three years?
The most glaring weakness in the current recovery relative to previous ones is the unprecedented public-sector job loss seen over the last three years. The figure below shows that private sector job growth in the current recovery is close to that of the recovery following the early 1990s recession and is substantially stronger than the … Continue reading
Ontario Power Generation cuts 1,000 jobs
Ontario Power Generation is shedding 1,000 jobs across the province as it prepares for a coal-free future. OPG spokesperson Ted Gruetzner said Wednesday that the move away from coal generation and toward alternative and gas energy sources will reduce the amount of electricity the organization produces, currently about 60% of the province’s supply. The company … Continue reading
Swiss Bank – Vontobel to cut jobs
Vontobel is planning to cut an undisclosed number of jobs, the latest Swiss private bank seeking to lower costs as the industry braces for lost revenue due to pressure on the country to stop harbouring tax evaders. Vontobel spokesman Reto Giudicetti confirmed comments by Chief Executive Zeno Staub in an interview with the Handelszeitung newspaper … Continue reading
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