Job Market Monitor
Layoffs
Merck / To cut 8,500 jobs
Merck & Co, taking a cue from rival drugmakers that have slashed research spending to bolster earnings, on Tuesday said it plans to cut annual operating costs by $2.5 billion and eliminate 8,500 jobs. Merck, whose shares rose 2.2 percent, said it aims to narrow its focus to products with the best chance of winning … Continue reading
Greece / Change in Mass Layoff Rules to come
The aim is to introduce measures which, in combination with the recent reforms, can contribute toward attracting investments and support job creation. Continue reading
Telstra / To cut 1100 jobs
Telstra will cut around 1100 jobs from its operation business by June next year, around 6 per cent of its operations staff. Continue reading
Lanxess / Cuts 1,000 jobs
Thermoplastic and rubber materials producer Lanxess has announced a major restructuring which will lead to 1,000 jobs being cut at its worldwide operations by the end of 2015 Continue reading
Citigroup (CitiMortgage ) / Cutting 1,000 jobs in Nevada and Texas
Citigroup Inc. says it is slashing about 1,000 jobs in Nevada and Texas, citing decreased demand for home loans and mortgage refinancing Continue reading
RWE / Would cut 3,400 jobs
Germany’s biggest power producer is looking to rationalise the workforce at its power unit and may shed as many as 3,400 employees Continue reading
Cleveland Clinic / 3,000 jobs cut ?
Layoffs part of a multi-year plan to cut $330 million from the Clinic’s budget. Continue reading
(Update) RIM – Blackberry / To lay off 4,500 employees
BlackBerry could lay off as many as 5,000 employees in the coming months in an effort to return the smartphone maker to profitability, according to a media report Continue reading
South Africa / Mines cut 23,000 jobs in 12 months
South Africa’s threatened mining sector lost 23 000 jobs in the 12 months to June, and 4 000 of those were lost between April and June Continue reading
STX Finland / 700 jobs cut
Ship builder STX Finland says it will shut down the yard where some of the world’s largest cruise liners were built Continue reading
Air France / New massive job cuts to come
The French airline Air France is putting together a new personnel-reorganization plan that includes the elimination of around 3,000 additional jobs throughout the company. The exact number of jobs to be cut will be announced in early October Continue reading
International Paper Courtland / Closure will cost 1,100 jobs
Lawrence County’s largest employer, International Paper announced this morning (Wednesday) that it plans to permanently close its Courtland paper mill. The plant is Lawrence County’s largest employer. Here is what International Paper in Memphis had to say about the decision: ”International Paper (NYSE: IP) today announced plans to permanently close its Courtland, Ala. Mill, a … Continue reading
HP / Layoffs More Dramatic Than Thought
The ax has been falling at HP faster than anticipated. In May 2012, the company said it would cut 27,000 positions globally, 9,000 of them in the U.S. By that September, it revised that number upward to 29,000. Originally, HP said the layoffs would occur over two years as part of a “multi-year productivity initiative” … Continue reading
Furniture Brands / To lay off 1,451 workers in Mississippi
Furniture Brands International Inc., which filed for Chapter 11 bankruptcy Monday, plans to lay off 1,451 workers in Mississippi, nearly one-fourth of its U.S. workforce. The layoffs will come from the St. Louis-based company’s Lane Furniture division, which has manufacturing plants in Belden and Siltillo and distribution centers in Verona and Wren, according to the … Continue reading
Italy / Factory jobs ‘disappearing overnight’
Italy is haemorrhaging manufacturing jobs. Since 2007, 55,000 manufacturing firms have folded, taking more than half a million jobs with them. Weak demand at home and high labour costs are not the only factors prompting Italian companies to move to eastern Europe. Carlo Carnevale Maffe, professor of business strategy at Milan’s Bocconi University, blames a … Continue reading
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