Job Market Monitor
Job cuts
Australia | At least 500 layoffs in TAFEs
At least 500 jobs could be slashed from Victorian TAFEs (JMM: the largest vocational education and training provider in Australia) and there are concerns schools in poorer areas will struggle under measures announced in the state budget. The government will slash spending on four in five vocational courses as part of $100 million in cuts to skills … Continue reading
Australia | Optus cuts 750 jobs
Optus, Australia’s second-biggest telco, said today it will cut 750 jobs over coming months in a major restructure of its business designed to boost profitability. The company said the job retrenchments – amounting to about one in 12 Optus jobs – will come “from senior and middle management as well as operations, back office and … Continue reading
Industrial Energy | 200 jobs under threat, briquette maker warns
A LATROBE Valley company owned by brown-coal generator HRL has warned that the carbon tax will force it to close, with the loss of 200 jobs, unless the Gillard government injects enough compensation to keep the company alive. With the government poised to release details of various taxpayer-funded assistance for industry, HRL subsidiary Industrial Energy … Continue reading
Bank of America | More Than 300 Job Cuts
Bank of America Corp. (BAC), the second- largest U.S. lender, plans to cut more than 300 jobs from corporate and investment banking and trading units run by Thomas K. Montag as underperformers are culled from its ranks, according to a person briefed on the matter. The firm will target workers on desks where business has … Continue reading
LM Wind Cuts 180 Jobs
LM Wind Power Holding A/S, a maker of turbine blades for companies including Vestas Wind Systems A/S (VWS), said profit fell 41 percent last year when it cut 180 jobs making 3 percent of its staff and that it expects demand to weaken. Earnings before interest, taxes, depreciation and amortization fell to 73.9 million euros … Continue reading
Qantas to axe over 1,000 jobs
QANTAS will axe 400 jobs at its Tullamarine heavy maintenance base and 660 workers at Avalon are also at risk. Source: via Qantas to axe 400 Tullamarine workers with another 660 jobs at Avalon in danger | Herald Sun.
LDK Solar Cuts 5,554 Jobs
LDK Solar Co. (LDK), the world’s second- largest maker of wafers for cells, cut 5,554 jobs this year after plunging prices cut margins to a record low amid a renewable-energy shakeout that’s pushed at least eight solar companies into bankruptcy and prompted thousands of industry firings. LDK, which reported the lowest margins among its publicly … Continue reading
Canada | Fed Budget | A Third Wave coming while 4,000 to 6,000 to receive notices at StatCan and HRDC
Union bosses are warning that “thousands” of public service sector employees will be receiving notices advising them that their jobs will be “affected” as a result of the government’s spending cuts this week, just as members of one of Canada’s largest unions meet for a national convention in Ottawa beginning Sunday. Speaking to CBC News … Continue reading
Australia | NAB to cut 1,400 jobs in UK by 2015
NAB, which has been reviewing its UK unit that comprises over 300 Clydesdale and Yorkshire branches, said it planned to cut 1,400 jobs in UK by 2015, close some back offices and move the vast majority of the UK unit’s commercial real estate exposure valued at 6.2 billion pounds ($10.07 billion) to the parent. NAB … Continue reading
Briggs & Stratton | 460 jobs cut
Briggs & Stratton Corp. said Thursday that it plans to cut about 460 jobs and stop selling gardening products through big retailers as demand for its goods shrinks. The company, which is based in Milwaukee, is shifting some manufacturing work from an Alabama plant to another plant it has in China, or to contractors elsewhere … Continue reading
As Thousand of Teachers Are Laid-off, Education Slowdown Threatens U.S. – WSJ.com
Throughout American history, almost every generation has had substantially more education than that of its parents. That is no longer true. When baby boomers born in 1955 reached age 30, they had about two years more schooling than their parents, according to Harvard University economists Claudia Goldin and Lawrence Katz, who have calculated the average … Continue reading
Lufthansa | Still evaluating but 3,000 job cuts rumored
Deutsche Lufthansa AG said it was still evaluating how many jobs it would cut in a cost-reduction programme, in response to a report that Germany’s biggest airline plans to axe about 3,000 administrative jobs. German mass-circulation paper Bild earlier reported that Lufthansa planned to cut half of a total of 6,000 administrative jobs around the … Continue reading
H&R Block cuts 350 jobs
Top U.S. tax preparer H&R Block said it was looking for a new finance chief, and that it would close about 200 underperforming company-owned stores and eliminate 350 full-time positions, its second round of store closures and job cuts in three years. Shares of the Kansas City Montana-based company, which cut 400 jobs and shut … Continue reading
Tieto | No job cuts in India after 1300 worldwide
Following the 1300 jobs cuts it announced worldwide, Helsinki, Finland-based IT services company Tieto Corporation is looking to provide full lifecycle of IT services in consulting and system integration, along with product engineering. Out of its 18000 global workforce, 1700 or about 10% work in India, where it will not cut jobs, but will focus … Continue reading
Zurich Insurance | 342 jobs cut in UK
Zurich Insurance has confirmed it will cut 342 jobs at five of its UK offices. The majority will be cut from its headquarters in Whiteley, Hampshire, with staff in Farnborough, Cardiff, Glasgow and Leeds also at risk. The insurer also plans to cut another 51 jobs at its Indian call centre in Pune by 2014. … Continue reading
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