Job Market Monitor
Job cuts
Credit Suisse | Jobs cut could reach 5,000
Swiss bank Credit Suisse could announce the loss of up to 5,000 jobs in its investment banking business at its forthcoming first-quarter results, a Swiss newspaper reported on Sunday.
Australia | ANZ cuts 230 jobs
ANZ will axe 230 roles from its wealth management division as part of the 100 job cuts it announced earlier in 2012. An ANZ spokesman said staff in its Australian wealth business were told on Wednesday that 230 positions would be made redundant. The axed positions are part of the 1,000 job cuts the bank … Continue reading
British Airways | 1,200 UK redundancies but hopes over Glasgow jobs
British Airways has said it will look to create jobs at its engineering facility in Glasgow, after owner IAG announced its purchase of airline BMI could lead to 1,200 UK redundancies. British Airways has said it will look to create jobs at its engineering facility in Glasgow, after owner IAG announced its purchase of airline … Continue reading
Sony Confirms 10,000 Layoffs
Confirming the report from earlier this week, Sony president and CEO Kazuo Hirai said the company will cut 10,000 jobs globally as part of a big “One Sony” reorganization. The company has five immediate goals: it wants to strengthen its core businesses — digital imaging, gaming and mobile — turn around its TV business, expand … Continue reading
Canada | Fed Budget | Hundreds of policy jobs slashed
Hundreds of policy analysts are losing their jobs in the latest rounds of cuts to the public service. Union officials say the cuts raise serious questions about how exactly the Harper government will formulate policies in the months to come. About 690 members of the union representing economists and social scientists were told today that … Continue reading
P.E.I. | Cuts to come in public sector jobs
The P.E.I. government plans to remove 300 jobs from its payroll in the upcoming budget, CBC News has learned, and hopes to cut most of those positions through attrition. Premier Robert Ghiz has confirmed the downsizing is coming. “While you may not love coming in and delivering a budget along these lines it’s still your … Continue reading
Consumer Goods | Layoffs Mounting
Consumer goods companies are planning more layoffs than all other industries this year due to company reorganizations, rising commodity prices and weak consumer spending, according to Chicago-based outplacement firm Challenger, Gray & Christmas. Companies such as Procter & Gamble, PepsiCo and Kraft Foods announced a total of 18,438 job cuts in the first quarter of … Continue reading
India | Dhanlaxmi Bank | To cut more jobs
More pain of job loss awaits employees of Dhanlaxmi Bank. As the Kerala-based private bank moves ahead with business consolidation and rationalisation, more heads are expected to roll. Already, the staff strength of the Thrissur-headquartered bank has come down to a little over 4,200 from 4,600 in November last year, as more than 300 employees … Continue reading
Finland | Tieto | After 1300 job cuts
Despite 1300 job cuts globally, Finland’s IT major Tieto Corporation is planning to restructure the business and may exit some unprofitable markets. Tieto will downsize 1,300 jobs including about 500 in Finland and 300 in Sweden. The company is planning to save over 50 million euros in annual costs by cutting these jobs. Speaking to … Continue reading
Sony | 10,000 Jobs will be cut
Sony Corp. plans to reduce its work force by an estimated 10,000 jobs, or roughly 6% of its global total, as part of a broader restructuring plan by Chief Executive Kazuo Hirai, people familiar with the matter said Monday. The cuts could be made over the next two fiscal years, ending in March 2014, though … Continue reading
Lockheed Martin | 450 to 500 layoffs in Salina
Lockheed Martin announced on Thursday that it will lay off 450 to 500 workers in its Mission Systems and Sensors (MS2) Division . The division has a facility in Salina. Lockheed Martin says it will first offer a voluntary layoff program followed by an involuntary one… Source: Read More @ 450 to 500 layoffs announced for … Continue reading
India | Telecom | Enormous Potential Job Losses
The potential job losses in the Indian telecom industry are “enormous” in the wake of 2G licence cancellations and many of the affected entities have started trimming their workforce, according to HR experts. “Most of the companies whose 2G licences were cancelled are reducing their workforce. This is happening at all levels Only people at … Continue reading
JCPenney to cut 900 jobs
J.C. Penney Co Inc said on Thursday that it will cut about 900 jobs, including roughly 600 at its headquarters, as it trims costs and tries to start running its 110-year-old business more like a nimble start-up. The Plano, Texas-based retailer, which has already overhauled its pricing strategy under new chief executive Ron Johnson, said … Continue reading
Canada | Budget | CBC to cut 650 jobs over three years
CBC/Radio-Canada will eliminate hundreds of jobs, cancel some programs and boost ads as part of cost-cutting measures to cope with planned budget cuts outlined in the recent federal budget, the public broadcaster announced Wednesday. We’ve made “gut-wrenching choices,” CBC president and CEO Hubert T. Lacroix said during a townhall meeting for CBC employees. Lacroix said … Continue reading
Toronto | School Board cuts over 300 jobs
The Toronto District School Board has voted to eliminate 200 high school teaching jobs, 134 office staff and 17 elementary vice-principals. The cuts are meant to help the Board deal with a $85-million budget shortfall in 2012-13. There are reports that the board could face an additional $25 million on top of the $85 million … Continue reading
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