Job Market Monitor
Layoffs
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
Microsoft – To cut 18,000 jobs at Nokia
Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company’s 39-year history and … Continue reading
Bosch in Belgium – To cut 400 jobs
German industrial group Bosch will cut up to 400 jobs, or about a third of the workforce at a windscreen wiper factory in Tienen, Belgium, the company said on Thursday. The cuts, which will be implemented by 2020, were a result of increased competition and the aim of making the production process more efficient through … Continue reading
Canada – CBC to cut up to 1,500 more jobs
The CBC will continue to cut staffing with an additional loss of 1,000 to 1,500 employees by 2020, says CBC president and CEO Hubert Lacroix. In a news release Thursday, the public corporation said it would be shifting priorities from television and radio to digital and mobile services. Lacroix said there will be additional jobs lost … Continue reading
BHP Billiton – The worlds largest miner cuts 500 jobs, and more to come
The worlds largest miner, BHP Billiton, has cut 500 Australian jobs out of its iron ore business.The jobs have gone in the last month, many more are expected and are linked to an ongoing review of the business by management consultants McKinsey & Company.The cuts come with the iron ore spot price having plunged more … Continue reading
Avon – To cut about 600 jobs
Cosmetics maker Avon Products Inc said it would cut about 600 jobs, including in its North America unit, as the company struggles to return to profit. The direct seller of cosmetics, which has posted losses in five of the past six quarters, had about 36,700 employees, including 4,300 in the United States, at the end … Continue reading
Foxconn in India – Layoffs announced
Foxconn India announced to its employees that it is “considering layoffs/retrenchment”, just two days after the company offered a voluntary retirement scheme VRS that would be valid till June 20. ET had written about the companys VRS plans on June 3, 2014, and this is the first time Foxconn is making it official. The company … Continue reading
Haier Group – 26,000 Layoffs in two years
China based Haier, maker of appliances and consumer electronics, started 2013 with 86,000 employees worldwide, but that number is likely to be about 60,000 by the end of 2014. Most of those layoffs have already happened. The company laid off 16,000 workers in 2013, and by the end of May 2014 the number was at … Continue reading
Hydro-Quebec – To cut hundreds of jobs
Hydro-Quebec, Canadas largest power utility, will eliminate hundreds of positions this year as the province looks to trim $2.7 billion in spending, QMI Agency has learned. The Crown corporation had already announced a series of buyouts but QMI has learned that the early retirements wont be enough to meet job-cutting targets. The Montreal-based utility was … Continue reading
Morrisons (UK) – To cut 2,600 jobs
UK supermarket chain Morrisons plans to cut 2,600 jobs as a result of changes to its management structure. The firm, which has 126,000 staff, will reduce layers of management, it said. Dalton Philips, Morrisons’ chief executive, said the changes would “lead to simpler, smarter ways of working”. The former chairman, Sir Ken Morrison, told the … Continue reading
Avtovaz (Russia largest carmaker) – To cut 13,000 job
Russias largest carmaker, AvtoVAZ, said on Friday it expects to cut 13,000 staff – more than previously indicated – at its Togliatti plant due to falling sales of its flagship Lada. Avtovaz slumped to a loss last year, and recently appointed CEO Bo Andersson is battling to revive business in a touch economic environment amid … Continue reading
Bouygues Telecom – To cut 1,500 jobs
Bouygues Telecom, France’s third-largest mobile operator by subscribers, plans to slash more than 15 per cent of its 9,000-strong workforce to stay alive in one of Europe’s most competitive markets. via Bouygues Telecom to cut 1,500 jobs in fight for survival – FT.com.
ICICI Bank – To cut 1,200 jobs
ICICI Bank, the countrys largest private sector lender by assets, has let go 1,200 of its staffers, and a few hundred may be on their way out as part of an exercise to cut flab, two people familiar with the development said. The retrenchment of staff across the board – from general managers to junior … Continue reading
Australia – 900 jobs cut at postal service
Australia Post has told its workers 900 jobs will go as part of a restructure that will split its post and parcel businesses.Australia Post has confirmed 900 jobs will be cut in the restructure. As fewer people post letters, and losses in that part of the business mount, the Government-owned company is planning to operate … Continue reading
Barclays / Hundreds investment bank jobs cut this week
Barclays Plc has this week cut several hundred jobs in its investment bank as part of its plan to shrink the business by 7,000 staff over the next three years to save costs, people familiar with the matter said. The cuts will mostly be in the fixed income, currencies and commodities FICC trading and markets … Continue reading
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