Job Market Monitor
Layoffs
AOL Music Is Closing
AOL employees revealed Friday on Twitter that news website AOL Music and properties associated with it will close and employees in the division will be immediately laid off. Spinner, a rock news website under the AOL Music umbrella, tweeted (and then deleted) this message to its 48,000 followers: “Hey guys. Just found out from AOL … Continue reading
REpower Systems to cut 750 jobs
REpower Systems SE, the Indian wind turbine maker Suzlon Group’s German arm, said on Friday it would reduce up to 750 jobs across the world as part of its plan to achieve cost savings of about 100 million euros ($130 million) in the current fiscal year. “Whilst the long-term outlook for the sector remains strong, … Continue reading
Electronic Arts / Layoffs for hundreds of employees
Electronic Arts announced on April 25 that the company is currently going through an organization restructure. As a result of this restructuring, it has led “to some difficult decisions to reduce the workforce in some locations.” The company went on to share that they are grateful for the contributions made by each of their employees … Continue reading
Community-wide Job Loss on Student Achievement : Research finds positive effects on student enrollment in courses that keep them on-track to attend college
‘Understanding the impact of job loss on student achievement has grown increasingly important given the widespread job loss that occurred during the Great Recession’ writes Andy Chiamopoulos in The Effects of Community-wide Job Loss on Student Achievement on dukespace.lib.duke.edu. (Adapted chosen excerpts by Job Market Monitor to follow) The author evaluates the impact of the county-level job loss within North Carolina on 9 classes … Continue reading
Banks aren’t the big jobs machines they used to be
One after another, major financial firms are trimming their payrolls. In first-quarter earnings announcements this month, Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley revealed that they have slashed more than 31,000 jobs, or 3.5 percent of their combined workforce, in the past year. For three of those banks, it was the … Continue reading
BC / Vancouver Sun and The Province to cut jobs
Employees at two of B.C.’s biggest newspapers were warned Wednesday that their jobs are on the line in the midst of severe revenue declines. Staff at the Vancouver Sun and The Province received a four-page memo from their new president detailing the company’s financial woes. Gordon Fisher, the new president and publisher of Pacific Newspaper … Continue reading
Finland / Outokumpu Oyj cuts 2,500 jobs
Finnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall. The world’s leading stainless steel maker says about a third of the job cuts will be applied this year, … Continue reading
Scotland / Government sets up mining jobs taskforce
A Scottish government taskforce has been set up to try to retain jobs at a collapsed coal-mining firm. Scottish Coal, which operated six open cast mines across Scotland, announced nearly 600 redundancies when it went into liquidation last week. Energy minister Fergus Ewing said the Scottish Open Cast Mining Taskforce would do everything it could … Continue reading
BASF To Cut 500 Jobs
German chemicals giant BASF SE (BASFY,BFA.L) said it will cut about 500 jobs worldwide by the end of 2015, including 350 in Switzerland, and also streamline processes as part of a restructuring at its performance products segment. BASF plans to significantly increase competitiveness at the segment in the coming years by streamlining processes, investing in … Continue reading
UK / HSBC bank cutting 3,166 jobs
HSBC is cutting 3,166 UK jobs as it continues efforts to reduce costs. The bank said the positions would mostly go from its wealth management division, but that it hoped to redeploy more than 2,000 of the affected staff. The cuts are part of HSBC’s continuing three-year cost-cutting plan, and follows the loss of 2,200 … Continue reading
Europe / SABIC to cut over 1,000 jobs
Petrochemicals giant Saudi Basic Industries (SABIC) has announced plans to cut about 1,050 jobs in Europe and close some operations as part of a restructuring operation brought about by a gloomy business outlook. Chosen excerpts by Job Market Monitor via SABIC to cut over 1,000 jobs in Europe.
New Brunswick / Close to 400 jobs will be cut this year | Globalnews.ca
New Brunswick Health Minister Hugh Flemming says almost 400 jobs will be eliminated from the province’s health care system during the next year as the government looks to cut costs. Flemming says the changes are needed to rein in spending so that per capita health care costs are closer to the national average of about … Continue reading
UK / Honda workers get redundancy letters
YESTERDAY was described as a dark day for Swindon, after letters went out to employees of Honda informing them they have been provisionally selected for compulsory redundancy. It is believed that more than 100 letters have gone out to indirect staff – those who don’t work on the production line – and the mood at … Continue reading
Imtech / 1,300 jobs cut
Imtech (IMUN.AS) said it would cut 1,300 jobs, or about 4.5 percent of its global headcount, and make more writedowns on its German operations, in a sign of escalating trouble at the Dutch engineering company. Total costs related to financial irregularities still being investigated in Germany and Poland rose by 70 million to 370 million … Continue reading
Tennessee / State closing 34 career centers
About 125 employees of the state Department of Labor and Workforce Development have been told their jobs are being eliminated and career job services will no longer be provided at 34 locations across the state. Jeff Hentschel, spokesman for the agency, said most of the affected employees were told of the layoffs in a meeting … Continue reading
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