Job Market Monitor
Layoffs
China / Motorola confirms further staff layoffs
Motorola Mobility China confirmed Tuesday that it is carrying out a second round of massive layoffs, a further move to cut its workforce since Google Inc acquired its parent company Motorola Mobility for $12.5 billion last year. According to telecommunications industry website ccidcom.com, the US-based company is planning to cut 800 jobs in China, with … Continue reading
UK / Banks employment to 9yr low
Britain’s four biggest banks will have cut a quarter of their staff worldwide by the end of this year from peak staffing levels of 2008. Thousands of jobs are targeted as British banks centered in LIBOR rigging and insurance mis-selling scandals continue to cut costs. Royal Bank of Scotland, HSBC, Lloyds and Barclays will employ … Continue reading
Rio Tinto / At least 230 jobs in jeopardy in Sorel-Tracy
At least 230 jobs are on the line at Rio Tinto Iron & Titanium in Sorel-Tracy. The company’s management met with the union this week to present a restructuring plan that could result in significant job losses. The plan foresees cutting 75 jobs at the Montérégie-region plant between now and September, with another 155 cuts … Continue reading
Casino / Australia / Job cuts at Crown
The $9.35 billion casino company Crown has confirmed rumours of job cuts, as Victoria’s largest single-site, private-sector employer seeks a slice of the Sydney casino market. Sources close to Crown said redundancies were on the way for administration, marketing and back-office staff. It is believed the job losses are triggered by a desire to cut … Continue reading
Australia / Ford to cut 1,200 jobs
Car manufacturer Ford announced today it will stop making vehicles in Australia in 2016 and axe 1,200 jobs, having produced its first car in the country in 1925. Ford Australia chief executive Bob Graziano made the announcement as he revealed a loss of 141 million Australian dollars ($136 million) after tax in the last financial … Continue reading
Australia / Telstra to slash jobs
THE terminal decline of Telstra’s once-dominant fixed telephony business and the rise of new business opportunities have forced the telco giant into a major operational restructure that will affect half the company’s 30,000-strong domestic workforce. The restructure, which was announced yesterday in an internal memo from Telstra chief operations officer Brendon Riley, is likely to … Continue reading
ESPN layoffs 7000 workers
Sports media giant ESPN has given pink slips to nearly 7,000 employees on Tuesday, the network said in a statement. The Bristol, Connecticut-based company said it was looking at the financial bottom line. In a statement the company said that they were implementing changes across the company to enhance their continued growth while smartly managing … Continue reading
Teachers Layoffs / By seniority ?
School boards are now working on their budgets, so more of these stories are likely to unfold over the coming months. The problem is that state law requires districts to use seniority as the sole factor in determining which teachers to lay off even though experience doesn’t always add up to greater effectiveness — as … Continue reading
Ericsson / 318 Receive Layoff Notice in Sweden
LM Ericsson Telephone Co. (ERIC: Quote) Tuesday said it has initiated union negotiations to close down its telecom cables operation within business unit Networks. The decision primarily impacts the operations in Hudiksvall and Stockholm. A notice of reduction of 318 positions in Hudiksvall has been given, while a dialog with the unions in Stockholm for … Continue reading
RBS / 1,400 Jobs cut in UK
Royal Bank of Scotland Group Plc, the recipient of the world’s biggest banking bailout, will cut 1,400 jobs at its U.K. consumer banking unit in the next two years. The lender will spend 700 million pounds ($1.07 billion) updating its branches and improving its complaints handling and mortgage processing, it said in a statement today. … Continue reading
ThyssenKrupp / 3,000 admin jobs to be cut
German heavy industry giant ThyssenKrupp said on Wednesday it plans to axe 3,000 administrative jobs worldwide as disastrous investments in steel operations overseas tore holes in its balance sheet in the second quarter. “Overall the number of employees in administrative functions in the group worldwide is to be reduced by around 3,000 from its current … Continue reading
HSBC / Up to 14,000 jobs to be cut
HSBC has said it may cut an additional 14,000 jobs globally as part of a restructuring plan to reduce costs and increase profitability. The bank is aiming to save another $3bn (£2bn) in annual costs as tougher regulations eat into profits. The layoffs would cut the firm’s total headcount to between 240,000 and 250,000 over … Continue reading
Sharp / To cut another 5,000 jobs
Japan’s financially beleaguered Sharp Corp. is expected to reveal that it will be eliminating 5,000 positions from its current workforce of 51,000 by March of 2016. As the TV manufacturer struggles to stay afloat after losses amounting to billions of dollars over the last fiscal year, their revival plans will see the sales of factories … Continue reading
Lloyds / To slash another 850 jobs
The latest cull means the bailed-out banking giant has axed more than 30,000 jobs since 2008, according to the union. The new round of cutbacks includes 690 jobs which are expected to go with the closure of a large office in Southend, Essex. The remainder are going in its commercial and insurance operations. Chosen excerpts … Continue reading
Electronic Arts / Layoffs Hit 10 Percent of Workforce
So, those “hard but essential changes” and “difficult organizational decisions” Electronic Arts announced back in late April, but refused to explain in detail? It did so last night during its fourth-quarter earnings call, and they’re not pretty. Since announcing that organizational update on April 25, EA has sacked 10 percent of its workforce, CFO Blake … Continue reading
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