Job Market Monitor
Layoffs
Barclays / 12,000 confirmed job cuts this year
British bank Barclays said Tuesday it planned to axe between 10,000 and 12,000 jobs this year, including 7,000 in Britain. The bank, which now employs 140,000 people worldwide, described the job cut as an effort made to lower costs. The cuts will involve 820 management persons, including 220 senior ones. The Barclays chief executive Antony … Continue reading
Russia / Big Companies Cutting Staff
A slew of announced layoffs is rattling the domestic labor market, threatening to further undermine a weak economy. Russia’s two largest banks, state-owned Sberbank and VTB, have joined the country’s biggest carmaker, AvtoVAZ, in declaring significant staff reductions in the upcoming months. VTB Group disclosed last month that it would cut employees and the salaries of remaining staff at its core business, VTB bank, and its investment arm, … Continue reading
HP cuts in UK / Over 700
HP is to axe the jobs of hundreds of UK staff before May. National officer for IT and communications for trade union Unite, Ian Tonks, told The Channel Register that 782 UK staff were to be made redundant before the end of HP’s Q2 2014, which finishes on April 30th. Another 7,100 jobs are due … Continue reading
Toyota to Close in Australia / Around 2,500 will lose their jobs
Toyota has made the “heart-breaking” announcement that it will stop making cars in Australia in 2017, bringing an end to the nation’s car manufacturing sector. Around 2,500 Toyota workers will lose their jobs, while the loss of the wider automotive industry will put tens of thousands more jobs at risk. Chosen excerpts by Job Market … Continue reading
Volvo / To increase its job cuts to 4,400
World No.2 truck maker Volvo will increase its job cuts to 4,400, more than double its original plan, after currency effects and the cost of launching new models muted a rise in quarterly earnings. But Sweden’s biggest private sector employer also unveiled a stronger-than-expected order intake in the fourth quarter on growth in North America, … Continue reading
Layoffs In Tech / All the growth is in high mobility
While much of the focus in the current news cycle seems to be on celebrity top executives and the minutiae of selecting and deselecting them, there is an underlying trend receiving far less notice: layoffs of ordinary workers at tech companies. The problem stems from the long-term malaise of the x86/Windows ecosystem, which has been largely upended … Continue reading
Sony / Around 5,000 layoffs to come
Thousands of employees of Japanese tech company Sony will be affected by a major reorganization plan of the company. They have confirmed they are selling their Vaio PC business and switching its TV division into its own company, a move which is expected to lay off 5,000 employees from its global operations. It is estimated … Continue reading
Bristol-Myers in France / Threatening to cut jobs at its two Agen factories
Bristol-Myers Squibb, BMY -0.76% the New York-based drug maker, is threatening to cut jobs at its two Agen factories, where a range of paracetamol painkillers are made, after the French government unveiled plans to push for wider use of cheaper generic versions. The government may announce its final decision as early as Thursday, according to … Continue reading
Disney / Hundreds of layoffs in gaming unit
Walt Disney Co is preparing to lay off several hundred people in its interactive unit, the division that includes gaming products and the Disney.com website, The Wall Street Journal reported on Monday. The layoffs are expected to begin after Disney releases its quarterly earnings on Wednesday, the Journal said. Chosen excerpts by Job Market Monitor. Read … Continue reading
Law School in US / Tenured Faculty Layoffs
As more and more people discover that law school is not the “get rich quick” scheme that they once thought it was, applications continue to plummet. As of late January, law school applications were down 13.7 percent from where they were in 2013. The loss of student revenue is killing the bottom line at some … Continue reading
Spain / Firing Aid was scrapped on Jan. 1
The 2012 overhaul, which made it cheaper to fire workers and easier to reduce wages, extended subsidies for small companies cutting staff. The measure, which brought the cost of firing permanent workers closer to that of temporary staff, was scrapped on Jan. 1 this year. “One of the most effective provisions of the labor reform … Continue reading
KPN / To cut another 2,000 jobs
Dutch telecoms group KPN will cut up to a further 2,000 jobs after frugal consumers and stiff competition drove down quarterly revenues in its mobile division, causing profits to miss expectations. Chosen excerpts by Job Market Monitor. Read the whole story at UPDATE 2-KPN to cut more jobs as mobile revenue slides | Reuters. Related articles Europe … Continue reading
Dell / 15,000 layoffs to begin this week
Dell’s expected layoff programme is expected to begin this week, and over 15,000 people may lose their jobs worldwide. Insiders speaking to the Register say that the PC giant’s restructuring operation has resulted in cuts in every department, “some of these have already been downsized and are now being told to cut 15 per cent … Continue reading
Amplats / To cut 1,400 jobs
Anglo American Platinum (LON:AAL), the world\’s largest platinum producer, warned Monday the current strike at its South African operations could force the company to cut 1,200 to 1,400 jobs this year. The miner said the planned layoffs would follow last year’s lost of 7,438 jobs, when merged five mines at its Rustenburg complex into three. … Continue reading
Novartis / To cut or transfer up to 4,000 jobs
Novartis has confimred that pharma jobs will be reallocated in 2014 in a continuation of the productivity drive that saved the firm $2.8bn (EUR2bn) last year. Swiss newspaper NZZ am Sonntag reported that Novartis was looking to cut or transfer up to 4,000 jobs – approximately 6% of its global workforce – earlier this week. … Continue reading
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