Job Market Monitor
Layoffs
Europe / Carmakers warn of more layoffs
European carmakers need to close more factories and cut more jobs, executives at the Frankfurt car show said on Tuesday, warning any recovery in demand was likely to be long and slow as unemployment remained high and bank lending weak. Continue reading
Bank of America / To lay off thousands in mortgage business
Layoffs at Bank of America Corp’s mortgage business will amount to about 2,100 positions, a source told Reuters on Monday, in response to weak refinancing activity. The downsizing reflects the second-largest U.S. bank’s “ongoing efforts to streamline our facilities and align our cost structure with market realities,” Bank of America said in a statement in … Continue reading
US / Budget cuts laying off scientists: Some 1,444 of 3,165 scientists reported layoffs are imminent
It took a few months, but forced federal budget cuts are costing hundreds of science and medical research jobs. Nearly half of the recipients who get federal science funding say they’ve recently laid off or will lay off scientists and researchers, because federal grants are tougher to win, according to a survey by the American … Continue reading
Irving / Layoffs at Halifax shipyard
The Irving Shipyard in Halifax will begin laying off part of its workforce by the end of September as the site prepares for $300 million in renovations to start building a new fleet of navy ships. Scott Jamieson, vice-president of programs at the shipyard, says the move is necessary to proceed with the construction of … Continue reading
Wells Fargo / To cut 2,300 mortgage jobs
Wells Fargo is cutting thousands of jobs in its mortgage business as the biggest home lender in the US prepares for a further drop in demand for new mortgages, writes Tracy Alloway. The San-Francisco-based bank, also the largest in the US by market value, plans to trim 2,300 positions in its mortgage production unit, a … Continue reading
Florida Power & Light / To cut 1,000 positions
Florida Power & Light and its sister company, Nextera Energy Resources, plan to eliminate about 1,000 positions nationwide over the next two years. The utility announced the cuts Wednesday. It includes 6.7 percent of the companies’ combined workforce. An FPL spokesman said only about 160 workers will lose their jobs. The remaining cuts will come … Continue reading
UK and Ireland / Threat To 250 Jobs At Heinz
Food giant Heinz has warned that almost 250 jobs could be cut in the UK and Ireland Continue reading
Spain / Nationalized bank plans 2,453 layoffs
Nationalised Spanish lender Catalunya Banc plans to lay off 2,453 workers, nearly a third of its workforce, under a eurozone bailout deal for Spain’s banks, a union source said on Tuesday Continue reading
Sears Canada / Cutting 245 jobs with Offshoring IT
Sears Canada (TSX:SCC) is cutting 245 jobs, mostly at its head office in Toronto, and moving some of the work overseas Continue reading
Sharp / To cut 11,000 jobs
Kyodo news has reportedly obtained Sharp’s restructuring plan, revealing plans to cut approximately 11,000 jobs worldwide Continue reading
Philips / to cut an extra 2,200 jobs
Philips Electronics announced today that it plans saving measures that will impact approximately 2,200 positions globally. Continue reading
Canada / Verizon’s Arrival Will Cost Thousands of Jobs says Ken Georgetti, President of the Canadian Labour Congress
The federal government’s decision to pave the way for the multinational giant Verizon to enter Canada’s telecommunications market will cost thousands of jobs and will not benefit consumers in the long run, says Ken Georgetti, President of the Canadian Labour Congress Continue reading
India / Educomp cuts 3,500 jobs
Education solutions provider Educomp Solutions on Friday said it has cut 3,500 jobs in the last three months and has also initiated measures to spur growth Continue reading
Anglo Platinum / Job-reduction target cut by 31%
Lowering the headcount to 4,138 at most, less than a target of 6,000 jobs. Continue reading
Rio Tinto in Mongolia / 2000 jobs lost
Job losses from the mining sector continue to flow with a major Rio Tinto (ASX: RIO) contractor axing some 2,000 employees at the mining giant’s Oyu Tolgoi gold and copper project in Mongolia Continue reading
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