Job Market Monitor
Layoffs
Israel Defense Forces / To cut 4,500
Hebrew daily “Yediot Ahronot” reports that the IDF will fire 4,500 career officers and NCOs by the beginning of 2015 in order to cut costs Continue reading
Sears Canada / To cut nearly 1,000 jobs as 5 stores close
Nearly 1,000 people could be out of work after Sears Canada announced Tuesday it will be closing five stores in the hopes of saving $400 million Continue reading
UK / Tata Steel cut around 500 jobs
Tata Steel, Europe’s second-largest steel producer, said on Tuesday it could cut around 500 jobs under plans to restructure the part of its British business that supplies the construction and engineering industries. Changes to its long products business – which makes tubes, rails and rods, used in many industrial sectors – will affect management and … Continue reading
Standard Chartered / Cut 2,000 jobs last year but hired 2,000 compliance and legal staff in 3 years
Standard Chartered has hired around 2,000 people to work in compliance and legal functions over the last three years despite paring back on its employee headcount overall. Speaking on an investor’s call, following Standard Chartered’s interim management statement, the bank’s chief financial officer Richard Meddings also revealed that overall headcount has actually fallen by 2,000 … Continue reading
Volvo / To cut 2,000 jobs
Truckmaker Volvo is cutting 2,000 jobs after investments in new models and a rising Swedish kronor held back third-quarter profits Continue reading
Sweden / Manufacturers cut thousands of jobs
Two of Sweden’s manufacturing heavyweights unveiled plans to cut thousands of jobs Continue reading
Electrolux / To cut 2,000
Swedish home appliances company Electrolux (ELUXb.ST) announced 2,000 job losses and launched a new round of cost cuts to counter tough market conditions in Europe Continue reading
Hewlett-Packard (HP) / To cut 7,100 jobs in Europe
“HP expects approximately 7,095 employees to exit the company or to be re-deployed into new roles that better fit the future needs of the company and its customers,” the statement read Continue reading
Bank of America / To cut 3,000 mortgage jobs
Bank of America Corp is looking to cut 3,000 mortgage jobs before the end of the year Continue reading
Panasonic / To cut 7,000 jobs in chip business
Panasonic Corp. plans to cut up to 50 percent of the workforce in its semiconductor business — 7,000 employees — by March 2015 and sell off some of its factories Continue reading
Broadcom / Cutting 1,150 jobs
Broadcom said that during the third quarter it started a restructuring plan to reduce expenses, including cutting its workforce by up to 1,150 employees. Like larger Intel, Broadcom has been slow to launch chips featuring multimode, carrier-validated LTE, or Long Term Evolution, a technology allowing fast data transfer rates in smartphones that has become widely … Continue reading
Boston Scientific / To cut up to1,500 jobs
Boston Scientific Corp. is planning to cut 1,100 to 1,500 jobs through 2015 Continue reading
Caterpillar / Has cut more than 13,000 jobs over the past year
“We’re looking at mining continuing to falter into 2014” says Caterpillar’s Chairman and Chief Executive Continue reading
Rio Tinto / To outsource 700-800 jobs
Rio Tinto Ltd is expected to cut between 700 and 800 jobs globally as a result of a back-office outsourcing deal with IBM, according to The Australian Financial Review Continue reading
Wells Fargo / To cut 925 more jobs
Wells Fargo, the biggest U.S. mortgage lender, eliminated an additional 925 jobs in its home loan unit and has cut more than 5,700 since midyear Continue reading
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