Job Market Monitor
Job cuts
Universities in Denmark – Cutting thousands of positions within faculties that don’t lead to work
Denmark is addressing youth unemployment by revolutionising the university system. It is cuttingthousands of positions within faculties that don’t lead to work, starting from humanities and social science courses, which will be first in line for the chop. There are currently 15,000 Danish students enrolled on courses with poor employment prospects. The government wants to … Continue reading
Microsoft – 2100 jobs cut today
Microsoft has confirmed today that 2100 employees were cut today as part of the previously announced layoffs. Of those cut, 747 were in the state of Washington with the rest occurring in offices around the world. Back in July, Microsoft said that it would cut 18,000 employees, which will cost them between $1.1bn and $1.6bn when … Continue reading
Sony – 1,000 job cuts
The company plans to cut staff in its mobile communications business by about 15 percent, or roughly 1,000 people, Hirai said. Details of that plan are to be announced later. via Sony forecasts Y230 bil loss, 1,000 job cuts ‹ Japan Today: Japan News and Discussion.
Toshiba – To cut 900 jobs (PC)
Japan’s Toshiba Corp said it would cut 900 jobs in a restructuring of its PC business that will include an exit from business-to-consumer operations in some regions. via Toshiba says to cut 900 jobs in PC restructuring | Business | Reuters.
Greece – Alpha Bank to cut 15 percent of jobs
Alpha Bank, Greece’s fourth biggest lender, opened a voluntary redundancy offer on Monday with a view to cutting 15 percent of its workforce to cut costs under a restructuring plan approved by the EU Commission, an official at the bank said on Monday. All four of Greece’s top banks have been restructuring but Alpha’s bigger … Continue reading
Mining in Australia – Unemployment double national rate
Professionals in Australia’s minerals industry are experiencing double the average national unemployment rate, a survey has revealed. Research by the Australasian Institute of Mining and Metallurgy (AusIMM) showed the unemployment rate amongst workers, such as geologists and mining engineers, was 12.2 per cent. The institute’s chief executive, Michael Catchpole, said changes in commodity prices, cost-cutting … Continue reading
Atlantic City – 6,000 layoffs of casino workers to come next week
One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. … Continue reading
Cisco – To cut 6,000 jobs
Cisco will cut its worldwide staff by 6,000 in the coming months as it battles against slow growth, particularly in emerging markets, where the demand for high-end switches and routers don’t have such high demand. The company hasn’t revealed which roles will be affected, nor in which territories, but it says the action had to … Continue reading
Deere – To cut over 600 factory jobs
Agricultural machinery maker Deere & Co. (DE: Quote) said it would reduce the size of its manufacturing workforce at some agricultural equipment factories in response to current market demand for its products. The action would place more than 600 employees at four locations on indefinite layoff. via Deere To Cut Over 600 Factory Jobs At … Continue reading
Thai Airways – To cut 1,500 jobs this year
Thai Airways expects to return to profit earlier than expected in the fourth quarter, aiming to cut 1,500 jobs this year under its recently approved restructuring plan. The airline also said it would shed more than a quarter of its full-time employees by 2018, the first major job cuts announcement since the plan was given … Continue reading
Bombardier – More job cuts planned
Canada’s Bombardier Inc plans to cut more jobs and halt new hiring to help save costs, it said on Thursday, and added that commercial talks for a Russian assembly plant are ongoing despite sanctions. Bombardier, which manufactures planes and trains, also sought to allay worries about the pace of its cash burn after posting higher … Continue reading
Amgen (Biotechnology) – To cut between 2,400 and 2,900 jobs
Biotechnology company Amgen (IW 600/67) announced Tuesday that it will cut between 2,400 and 2,900 jobs and shutter two facilities in the United States in a reorganization to save money. Amgen (AMGN) plans to close facilities in Washington and Colorado as it cuts 12% to 15% of its workforce, with most of the job losses … Continue reading
Announced Job Cuts in IT – Up 68 percent in the first half of 2014, without counting those by Microsoft
Even before Microsoft announced plans to reduce its workforce by 18,000, a new report shows that job cuts in the technology sector were well ahead of last year’s pace. Through the first half of 2014, employers in the technology sector announced plans to cut payrolls by 48,402, 68 percent more than the 28,883 announced layoffs … Continue reading
Bombardier – 1,800 jobs to be cut
Bombardier Aerospace president and CEO Guy Hachey is retiring after six years in the post amid a restructuring of its operations that will result in the layoff of 1,800 employees. The Montreal-based company (TSX:BBD.B) says its aerospace division will operate in three segments — business aircraft, commercial aircraft and aerostructures and engineering services — each … Continue reading
Allergan – To cut about 1,500 jobs
Allergan Inc., the maker of the wrinkle remover Botox, will cut 1,500 jobs and eliminate another 250 vacant positions as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International Inc. The job cuts, representing 13 percent of Allergan’s global workforce, and further restructuring will lead to savings of about $475 million next … Continue reading
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