Job Market Monitor
Layoffs
Société Générale to cut 1,000 jobs
French banking giant Société Générale revealed on Tuesday it would cut at least 1,000 jobs worldwide, in an effort to find almost €1 billion in savings by 2015. The announcement comes as the bank’s first-quarter profit fell by half. French bank Société Générale reported on Tuesday that first-quarter net profit fell by half to €364 million … Continue reading
Canada / Federal Government Cut 15,000 Jobs Last Year
There are signs that the Canadian government’s austerity plan is advancing at a rapid pace. Canada’s chief bureaucrat– the Clerk of the Privy Council—says the federal public-sector payroll shrank by 5.5% or more than 15,000 positions over nine months last year. That’s three-quarters of the way towards the government’s planned 19,200 job cuts over a … Continue reading
Sanyo / Layoffs vs tax incentives
Five years ago, taxpayers provided more than $42 million in incentives to lure Sanyo Solar of Oregon to Salem. Tax credits, land write downs, grants and other incentives caused corporate decision-makers to look favorably on Salem. With many of those incentives, however, came conditions. Sanyo would have to hire a certain number of workers, pay … Continue reading
Oracle / Layoffs announced to employees
Sources are telling us that some Oracle employees got pink slips on Friday. All of them are from Sun Microsystems’ hardware groups. Friday’s layoffs hit employees in the “legacy hardware” units from Sun, particularly salespeople and some managers, our source tells us. Details are sketchy but like previous Oracle layoffs, we’re estimating the layoff is tiny and … Continue reading
Rio Tinto / Sam Walsh warns of more job cuts
Rio Tinto chief Sam Walsh on Sunday warned of more job cuts as the mining giant works to make US$5 billion in savings by the end of 2014, but he was upbeat about demand for iron ore from China. The comments follow the Anglo-Australian miner posting its first annual loss in 18 years in February, … Continue reading
Portugal / To cut 30,000 civil service jobs
Portugal is planning to cut 30,000 civil service jobs and to raise the retirement age by one year to 66 as it tries to meet the terms of a bailout. Prime Minister Pedro Passos Coelho said civil servants would also be required to work 40 hours a week instead of 35. The proposals, which would … Continue reading
Magna / To cut jobs in Europe and US
Canadian auto parts maker Magna International plans to cut jobs in Europe and the United States as it seeks to reduce costs and offset weak demand in Europe, Chief Executive Donald Walker told German magazine WirtschaftsWoche. Chosen excerpts by Job Market Monitor via Canada’s Magna to cut jobs in Europe, U.S.: report | Reuters.
Mining / South Africa / Amplats to cut 14,000 jobs
Anglo American’s platinum arm is expected to cut 14,000 mining jobs as part of the loss-making business. According to industry sources, the mining company is under pressure from South African government. Anglo American Platinum, the world’s top platinum producer, is battling to restore profits and is planning to cut back production and mothball two mines … Continue reading
Nuclear / Duke Energy is cutting 585 jobs at Crystal River
Duke Energy issued a notice to the state this week that it intends to transfer or lay off 585 employees at the shuttered Crystal River nuclear plant over the next year or so. The utility expects to begin layoffs May 31. As many as 58 workers face termination by June 30. Duke announced in February … Continue reading
France / A law against industrial closures
The bill being presented is the fruit of repeated promises to pass a law to bar firms from shutting factories, as a stream of industrial layoffs has pushed jobless claims to an all-time high. Companies that shut down viable industrial sites in France rather than selling them could be fined if draft legislation by lawmakers … Continue reading
UK / Health reform redundancy count tops 10,000
More than 10,000 NHS staff have been made redundant in the past three financial years as a result of the government’s commissioning reforms, according to official figures. New information was published by the Department of Health on Tuesday in its final “people tracker” document, which collects workforce information on the reform transition. It also reveals … Continue reading
Europe / Telecoms could reduce their workforces by 30%
Telecoms network upgrades could cost 300,000 jobs in Europe over the next five years as wireless and wireline carriers move to more efficient technologies and look to reduce their workforces by 30%. According to the UNI Europa ICTS union, which represents telecoms workers across the European Union, within a decade the sector will see its … Continue reading
UK / Tata Steel Europe to shift two R&D centres to India, Netherlands
Tata Steel, Europe’s second-largest steel producer after ArcelorMittal, plans to close down two research and development facilities in the UK and shift them to the Netherlands and India, resulting in 300-400 job losses. Citing unnamed sources, The Sunday Times yesterday said that Tata Steel Europe (earlier known as Corus) plans to close two technology centres … Continue reading
France / To cut 34,000 jobs in defence
Proposed cuts to France’s military spending met with stiff resistance from lawmakers and the army on Monday, although the flat budget of 179.2 billion euros over a five-year-period will mean 34,000 job losses by 2019. France will keep its defence budget broadly stable for the next five years, after meeting stiff resistance from lawmakers and … Continue reading
Rio Tinto’s London HQ / Almost half of jobs to be cut
Mining group Rio Tinto plans to almost halve the size of its London head office, according to an internal memo seen by Reuters, cutting more than 200 jobs as it tries to slash more than $5 billion in costs by the end of next year. Rio has been reviewing high-cost office locations including London since … Continue reading
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