Job Market Monitor
Layoffs
ArcelorMittal / Layoffs / No to Europe’s Political Pressure
Alarmed by the speed at which the steel industry is becoming a symbol of Europe’s economic decline, a top European Union official has called for the world’s biggest steel maker to postpone planned job cuts and factory closings. The company, ArcelorMittal, has said no. “Continuing to operate these plants would threaten the overall viability of … Continue reading
UK / JP Morgan cuts nearly 200 jobs
The company told the BBC its staff will continue to work at its offices in Lydiard Fields for another year before its closure in the town. Swindon South MP Robert Buckland said he would be seeking more detail about the planned job losses. JP Morgan added that it was still working out what relocation packages … Continue reading
Lego / To cut 380 jobs in Denmark
Lego, the Danish maker of colourful toy bricks, said Tuesday it would cut 380 jobs at its main plant in Denmark by 2015 as it moves its packaging activities abroad to slash costs. “For some employees it will be natural departures. Other employees will be able to acquire new skills and find other positions within … Continue reading
ThyssenKrupp / 2,000 layoffs at its European steel division
German heavy industry giant ThyssenKrupp unveiled plans on Friday to axe more than seven percent of the workforce at its Steel Europe division to make the business more competitive. ThyssenKrupp said in a statement it would axe “more than 2,000 jobs” out a total workforce of 27,600 at its Steel Europe division in a €500-million … Continue reading
Lockheed Martin / 300 to 500 voluntary layoffs
Lockheed Martin Corp. announced a targeted, voluntary layoff program for midlevel employees working at the company’s Information Systems & Global Solutions unit. In a memo sent to employees on Jan. 31 and posted on career news website Dice.com, Patricia Lewis, Lockheed Martin’s vice president for human resources at the Information Systems and Global Solutions business … Continue reading
Fujitsu / To Cut 5,000 Jobs
Fujitsu Ltd., a Japanese maker of computers, network equipment and mobile phones, will eliminate 5,000 jobs and merge its LSI chip business with that of Panasonic Corp. to boost global competitiveness. The venture will design large-scale integration, or LSI chips, and contract out their manufacture, according to a joint statement the companies released yesterday. The … Continue reading
HMV / 930 layoffs as 66 stores close
Almost 1,000 HMV staff are facing redundancy as administrators for the failed music store chain revealed they will close 66 shops across the country. The loss-making stores, including all five Edinburgh sites, three in Glasgow and four in London, will close over the next two months and comes as administrators from Deloittes plan to sell … Continue reading
J.C. Penney / Layoffs at headquarters to come
J.C. Penney (JCP) is planning layoffs at its headquarters in Plano, Texas, according to reports Wednesday. The expected layoffs were first reported by the New York Post, which said chief executive Ron Johnson plans a 10% cut of the 3,000 employees who work at the home office. J.C. Penney already let go 600 workers in … Continue reading
DreamWorks Animation / Layoffs to come
DreamWorks Animation SKG Inc., the Glendale-based entertainment company led by Hollywood film veteran Jeffrey Katzenberg, is expected to lay off up to 20% of its 2,200-employee workforce, following a decision to shelve production of the movie “Me and My Shadow.” The animation industry giant, home of the animated “Shrek,” “Kung Fu Panda” and “Madagascar” films, … Continue reading
US / Nearly one-quarter (23%) of workers laid off during and 4 years after the Great Recession study finds
“Nearly one-quarter (23%) of all survey respondents report being laid off from either a full-time or part-time job during and after the recession (over the past four years)” write Mark Szeltner Carl Van Horn, Ph.D. Cliff Zukin, Ph.D. of the John J. Heldrich Center for Workforce Development in Diminished Lives and Futures: A Portrait of America … Continue reading
Heinz / Plans 80 layoffs at Idaho factory
The H.J. Heinz Co. plans to lay off 80 full-time employees at its Pocatello, Idaho, factory in March, following the discontinuation of the T.G.I. Friday’s frozen meal line. “The factory also will be adjusting its production schedule to maximize efficiency and effectively manage costs,” according to a statement from the Pittsburgh food company. The factory, … Continue reading
Spain / Iberia workers on strike over layoffs
Labor unions representing most workers in Spain’s Iberia airline have called 15 days of strikes to protest the company’s plans to lay off 4,500 workers. The stoppages by Iberia’s ground staff and cabin crews will be held Feb. 18-22, March 4-8 and March 18-22. Raul Melero of the USO union said Wednesday that the strikes … Continue reading
Pennsylvania / Budget proposes pension reform, 400 layoffs plus the elimination of 500 other positions
Gov. Tom Corbett today asked his Republican-controlled Legislature for pension reform, transportation investments and a $90 million increase in basic education funding in his 2013-14 budget. The Republican governor’s $28.4 billion blueprint, if approved by lawmakers, is $679 million higher than the current year’s budget and includes no tax increase. It does, however, propose 400 … Continue reading
Volvo / New job cuts to come
Volvo AB, the world’s second-largest truckmaker, said fourth-quarter profit dropped 84 percent because of the cost of cutting jobs and reorganizing production in response to shrinking economies in Europe and the U.S. Earnings before interest and taxes fell to 1.12 billion kronor ($177 million) from 6.96 billion kronor a year earlier, Gothenburg, Sweden-based Volvo said … Continue reading
Stora Enso / To slash 600 jobs
Nordic paper maker Stora Enso Oyj says that despite strong fourth quarter earnings it will slash 600 jobs due to the weak European economy. Stora Enso says most of the job cuts will take place in Sweden, where it will permanently shut down two paper machines by the end of June. The company also intends … Continue reading
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