Job Market Monitor
Layoffs
Spain / Caixabank to cut about 3,000 jobs
CAIXABANK, Spain’s biggest bank as measured by assets under management, plans to slash around 3,000 jobs as part of a restructuring. The Barcelona-based bank said the restructuring was needed following the purchase of smaller rivals Banca Civica and Banco de Valencia, which has caused its staffing levels to soar. “The implementation of this restructuring will … Continue reading
Ohio / Appliance Industry / 400 lose jobs
400 people at one of Painesville’s largest employers were notified of layoffs Friday. Core Systems, LLC is shutting down productions after 50 years in the manufacturing industry. The company makes custom molded parts in the appliance industry for clients including GE, Whirlpool, Bosch and Electrolux. Core Systems President Bill Loebbaka says the lender gave the order to … Continue reading
Germany / Commerzbank / To cut 1,800 jobs
Germany’s Commerzbank AG said Friday that 1,800 jobs in its German retail branches, or about 11% of the retail jobs in Germany, will be cut by the end of 2015. The bank’s management said it has adopted a policy statement to avoid compulsory redundancies in the process. The bank has said it plans to cut … Continue reading
Montreal / Electronic Arts hit by layoffs
Update: An EA representative provided the following statement to IGN: “EA Montreal is a key development studio where our long-term plan is to sharpen our teams’ focus on console and mobile games.” EA has laid off staff in Los Angeles, Montreal and “smaller locations.” In a post on EA’s official site, EA Labels president Frank … Continue reading
Spain / Thousands of striking Iberia workers protest layoffs
Thousands of striking workers of Spanish flag-carrier Iberia protested noisily in Madrid Wednesday, furious at management’s plans to cut 3,800 jobs following its merger with British Airways. To the din of horns and smoking firecrackers, workers massed outside the company’s headquarters, waving red and yellow Spanish flags and signs such as “Get your dirty hands … Continue reading
Volvo / 1,000 new layoffs for 2013
Volvo Car Corporation announced on Wednesday it would cut about 1,000 jobs and slash $237 million in costs by the end of this year. The Swedish automaker wants to reverse recent losses caused by weak sales in Europe. Volvo CEO Hakan Samuelsson told Swedish public television SVT that 1,000 consultants and white-collar workers would need … Continue reading
BAE Systems / Layoff Notices to 1,368 workers
The 1,368 BAE Systems workers who repair and upgrade warships in San Diego have been notified that they’re at risk of being laid off because Congress hasn’t passed a new budget. Lawmakers approved a so-called continuing resolution last year that has kept government going. But it expires on March 27, threatening funding for everything from … Continue reading
UK / 1 in 7 employees in work at the start of the recession have been made redundant
We get the latest official snapshot of the UK jobs market today. Whatever the figures show they can’t disguise the hard time many people are having, exemplified by yesterday’s news that 1,700 jobseekers applied for eight jobs on offer at a branch of Costa Coffee in Nottingham. The pain felt in recent years is also … Continue reading
US / Nanosolar / 75% of staff laid off
While few manufacturers are profitable in today’s photovoltaic market, U.S.-based Nanosolar has had a particularly tough ride in taking its technology to scale. The Silicon Beat website reported the news yesterday, that as much of 75% of Nanosolar’s staff were laid off on Friday, February 15. The source of the report was an anonymous employee … Continue reading
HMV / 464 Jobs cut due to 37 stores closure
Troubled entertainment retailer HMV is to close another 37 stores with the loss of 464 more jobs, according to the administrators. Joint administrator Nick Edwards said: “As part of our ongoing review of HMV’s financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure. … Continue reading
Europe / Danone to cut 900 jobs
French food and drink company Danone has said it will cut 900 jobs after weakness in southern European economies hit sales. The owner of Activia yogurt and Evian bottled water reported sales of 20.1bn euros ($26.8bn; £17.3bn) in 2012, up 5.4% from a year earlier. But sales in Europe fell 3% following a “severe deterioration” … Continue reading
Barclays / To cut 3,700 jobs
Scandal-hit banking giant Barclays has said it was axing at least 3,700 jobs under a strategic overhaul, but revealed it was paying £ 1.85 billion sterling in bonuses to staff, RTE Ireland reported on 12 February. Chief executive Antony Jenkins is shutting the bank’s controversial Structured Capital Markets tax advisory division. He said 1,800 jobs … Continue reading
Massachusetts / Sequestration / 60,000 jobs could be lost
Massachusetts will lose more than 60,000 jobs, much of it in the defense industry, and $127 million in federal research funding, harming a critical sector of the state economy, if Congress allows across-the-board spending cuts to go into effect in March, according to a report released Friday by Representative Edward Markey of Malden. The automatic … Continue reading
Ohio / National Institutes of Health (NIH) cuts would cost 475 jobs in 2013
Unless Congress acts, the mandatory budget cuts ($120 billion per year for 10 years, or $1.2 trillion dollars) enacted by the Budget Control Act of 2011, commonly called the sequester, will take effect March 1, with far-ranging effects across many government agencies and to our great state of Ohio. Among the federal-government agencies affected would … Continue reading
Spain / Vodafone / 620 layoffs
Mobile phone operator Vodafone (VOD.L) said it had reached agreement with labor unions to lay off 620 workers at its recession-hit Spanish unit, adding to a list of job cuts in Spain’s hard-hit economy. Many companies in Spain, where the unemployment rate already stands at 26 percent, are laying off staff to cut costs. The … Continue reading
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