Job Market Monitor
Layoffs
Losing Job in US – Would Quickly Lead to Hardship finds Gallup
Many working Americans would experience financial peril if they lost their current job, putting pressure on them to find a new job quickly. A substantial minority of U.S. workers say they could go just one week (14%) or one month (29%) before experiencing significant financial hardship if they lost their job. Gallup’s annual Economy and … Continue reading
Imperial Tobacco in Europe – To cut 900 jobs
Imperial Tobacco Group PLC Tuesday announced restructuring measures in Europe that will result in up to 900 job losses. The restructuring is part of a cost-optimization program that will deliver savings of GBP300 million ($502 million) a year from September 2018, said Imperial, whose cigarette brands include Davidoff and Gauloises. The projects are planned to … Continue reading
JPMorgan Chase – 3,000 mortgage jobs cut in Q1 2014
US-based global bank JPMorgan Chase has eliminated approximately 3,000 mortgage jobs during the first quarter of 2014, as part of its strategy to streamline the mortgage business amid sluggish demand for home financing in the country. The latest cuts are in addition to the 13,000 to 15,000 positions, which primarily were supposed to be implemented … Continue reading
SABMiller in SA – To cut 400 jobs says the employer, 1,400 says union
Brewer SABMiller plans to cut 400 jobs at its Amalgamated Beverage Industries soft-drinks bottling unit in South Africa as part of a structural revamp, ABI said on Monday. However, a union representing workers at ABI said the layoffs at one of the biggest bottlers and distributors of Coca Cola brands in the southern hemisphere would … Continue reading
UK – 26,000 Public service job could be cut union warns
With the impending release of the commission of audit and federal budget, job cuts in the public service could total more than 26,000 over the next three years, according to the public servants’ union. Job cuts to the public service are expected to be recommended in the Commission of Audit, and possibly announced in the … Continue reading
Banks in Europe – 80,000 jobs cut in 2013 finds Reuters
Europe’s 30 largest banks by market value cut staff by 80,000 in 2013, calculations by Reuters based on their year-end statements showed. Recruitment consultants warn workers’ hopes for a turnaround this year could be misplaced, bad news for countries like Spain where tens of thousands of bank layoffs have helped drive unemployment to 26 percent. … Continue reading
Canada – CBC to cut 657 jobs
CBC president Hubert Lacroix announced on Thursday afternoon that 657 jobs would be eliminated over the next two years for reasons that included — although were not limited to — the end of Hockey Night in Canada production at the CBC. Most of the positions will be cut in the months ahead as the Saturday … Continue reading
Intel in Costa Rica – To lay off 1,500 employees and goes to Asia
Intel’s Costa Rican unit will lay off some 1,500 employees and move its manufacturing operations to Vietnam, according to reports. The layoffs would represent more than half of its total staff in the country. According to reports, the US chip manufacturer will retain some 1,200 workers in Costa Rica, mostly working in its service operations. … Continue reading
Renault’s Pact with Union – To cut 2,500 jobs in first year
Renault (RENA.PA: Quote) has cut about 2,500 jobs in the first year of a productivity deal with French unions and is on course to meet its savings goals, the carmaker said on Thursday. “We’re at about one-third of the objective” of 7,500 positions to be eliminated under the three-year plan, the carmaker’s head of French … Continue reading
Ford in Russia – To cut about 950 jobs
Ford Motor Co. (F:US)’s Russian joint venture is cutting about 950 jobs at two factories in response to the falling ruble and deteriorating demand in the country. A car plant run in partnership with OAO Sollers near St. Petersburg will eliminate about 700 positions as it drops a work shift in June, John Gardiner, a … Continue reading
UK – Royal Mail to cut 1,600 jobs
Royal Mail is planning to cut 1,600 roles as part of a drive to cut costs, mainly among its head office managerial staff. The postal delivery service says the net effect will be 1,300 job losses, as it plans to create 300 new or enhanced roles at the same time. It says the cuts are … Continue reading
Finnair – To Cut 680 Jobs
Helsinki, 27 March 2014. Steep losses forced Finnair to lay off about 680 workers and suspend several dozen aircraft orders. Finnair has started employee consultations with its personnel in administrative and support functions as well as cabin attendants. “We still hope to achieve results in negotiations, outsourcing and redundancies are always a secondary option. The measures are part of … Continue reading
Credit Suisse / Cut up to 500 jobs to be announced
Credit Suisse could cut up to 500 jobs at its private bank as part of a cost-saving drive, a Swiss newspaper reported on Sunday. The Schweiz am Sonntag said Hans-Ulrich Meister, co-head of Credit Suisse’s private bank, is working on a plan to cut up to 500 positions worldwide, of which around half could be … Continue reading
Greece – The end of public sector 103 years job security enshrined in the Greek Constitution
Last summer, job cuts were scheduled at vocational and technical schools across Greece and staff were asked to reapply for their old jobs, or another position. As of Monday, March 23, around 400 of the total 1,845 teachers who didn’t apply for other positions, and who have not been offered other posts, will be fired. Thus ending the … Continue reading
Volvo – To cut 450 jobs in Sweden
Truck maker Volvo’s construction equipment unit plans to cut 450 jobs in Sweden due to lagging profitability and an unfavourable product mix, its European head of production said on Thursday. Jorgen Svenningsson said the company hoped to be able to solve the issue on a voluntary basis and that none of the employees had been … Continue reading
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