Job Market Monitor
Job cuts
Aurora Bank | 450 layoffs in Indianapolis
About 450 employees are facing layoff from their jobs with the Indianapolis offices of Aurora Bank FSB, a financially-troubled mortgage servicer that has been for sale. The Delaware-based bank and mortgage institution, a division of financially-troubled Wall Street firm Lehman Brothers, filed a letter warning of the job cuts that was posted today on the … Continue reading
Targacept to layoff 46 percent of workforce
Targacept is slashing its workforce by nearly half, part of a restructuring plan that comes one month after its lead drug candidate, a depression drug, failed the last of a series of phase 3 clinical trials. The company is laying off 65 employees, approximately 46 percent of its staff. Also departing the company will be … Continue reading
Progress Software To Layoff 10-15% of Employees
Business software solutions provider Progress Software Corp. (PRGS: News ), Wednesday revealed new restructuring plans to divest ten of its non-core product lines and layoff about 10 to 15 percent of its total workforce. The Bedford, Massachusetts-based company deemed the the new steps as necessary to improve profitability and shareholder value. The company also authorized … Continue reading
San Diego Unified School District Board of Education To Layoff Nearly 1,000 Employees
The San Diego Unified School District Board of Education voted 3-1 Tuesday night to issue layoff notices to about 975 full- and part-time classified employees for the next fiscal year to help balance a budget deficit that could reach $122 million. Notices would be issued to affected employees, which include library assistants, custodians and assistants … Continue reading
UPDATE – Wall Street cuts jobs | 459,400 jobs in four years
U.S. financial sector loses 459,400 jobs in four years – The Business Journals The recession may officially be over, but its effects are lingering in the financial sector. The nation’s 100 biggest metropolitan areas lost a collective total of 459,400 financial-activities jobs during the past four years, according to an On Numbers analysis. The U.S. … Continue reading
HSBC | 2,000 UK layoffs
Banking giant HSBC is this week expected to announce some 2,000 UK job cuts as part of a restructuring of its global business. The axe is expected to fall on nearly 4% of the bank’s 52,000-strong UK workforce in a drive to slash costs and help the business react to the tougher climate in the … Continue reading
Statistics Canada Economists | A substantial number of layoffs
A substantial number of the 2,500 economists working at Statistics Canada could end up with notices that their jobs are affected by the Conservative government’s budget cuts, forcing them to compete with each other for their jobs, says the union representing them.
Renewable Energy Corp Closes Norway Solar Wafer Plant and Eliminates 460 Jobs
Renewable Energy Corp ASA (REC), Europe’s second-largest polysilicon producer, is closing its second wafer factory in five weeks after competition from Chinese rivals drove down prices by more than two-thirds for the material used in solar panels. REC will cease production at the plant in Heroya, Norway, in the second quarter, eliminating 460 jobs, REC … Continue reading
University of the District of Columbia prepares layoffs
The University of the District of Columbia is preparing for wide-scale layoffs, as school officials say the District’s employee protections prevent them from axing employees they have accumulated over the last four decades. The “bloat” of employees, as one official described the situation, and relatively level funding from the District, has put the city’s only … Continue reading
British Gas | 550 Southampton jobs to go
Andrew Pate speaks to Ian Peters, Managing Director of British Gas and Mike Jeram from UNISON. British Gas is planning to close a call centre at the end of the year with the loss of 550 jobs. Union leaders said the closure of the site in Southampton would be a “blow” to the workers as … Continue reading
Hawker Beechcraft warns 350 employees of layoffs
Aircraft maker Hawker Beechcraft said it has given 60-day layoff notices to about 350 workers at its plant in Wichita. Monday’s letter from CEO Steve Miller and Chairman Bill Boisture told employees that market conditions require adjusting production to ensure the company remains competitive…. Source: Read More @ Hawker Beechcraft warns employees of layoffs | CJOnline.com.
Merck pharma closes Swiss HQ- 580 jobs
The job losses at biotech firm Merck Serono were part of a wider restructuring plan “to create a leaner, more agile organisation,” the company said in a statement. “The planned measures for Merck Serono’s operations in Switzerland are needed to ensure our global competitive position in a rapidly changing market and to secure the long-term … Continue reading
Wall Street preparing to cut jobs
Having already slashed bonuses, banks including Citigroup Inc.,Goldman Sachs Group Inc., J.P. Morgan Chase and Morgan Stanley are preparing to cut dozens of jobs, including some held by senior bankers, according to people familiar with the matter. As they pursue this targeted round of trims as soon as next month, they and rivals are also … Continue reading
Detroit budget | 2,500 layoffs
Detroit Mayor Dave Bing’s adminstration has laid out a budget proposal that would cut more than 2,500 jobs and shave $250 million from the city’s annual expenses. Chief Operating Officer Chris Brown told City Council members Monday the layoffs would be in addition to 1,000 job cuts Bing sought earlier. Brown says the city’s general … Continue reading
CSC to axe 640 Lorenzo jobs according to union
US company CSC is to cut 640 UK jobs relating to its ‘unworkable’ Lorenzo NHS IT contract, taking the total of announced job cuts to over 1,100 since February, according to the Unite trade union. The majority of cuts will affect CSC employees in Chesterfield, Chorley, Leeds and Solihull, Unite said in a statement on … Continue reading
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