Job Market Monitor
Layoffs
Time / Around 500 Jobs Cut
Time Inc. began a widely anticipated round of layoffs on Wednesday. The Wall Street Journal said that around 500 people will be cut from the world’s largest magazine company — home to Time, Sports Illustrated and People, among others. That means that the roughly 8,000-strong workforce would be cut by about 6 percent. Choosen excerpts … Continue reading
Northern Europe / Nordea / To cut as many as 940 more jobs
Nordea Bank CEO Christian Clausen signalled on Wednesday he still needs to cut as many as 940 more jobs at Scandinavia’s biggest lender to reach a goal of lowering headcount at least 10%. “We have reduced our staff by 8%, we have come far,” Mr Clausen said in an interview, after the company said in … Continue reading
UK / Rolls-Royce: Nearly 400 workers at risk
Aerospace firm Rolls-Royce has said it is in consultation with unions over job cuts at one of its plants, after a trade union said nearly 400 workers are at risk. Unite reported earlier today that Rolls-Royce had sent an internal memo to its staff to detail its proposals. The plan puts 378 jobs at risk … Continue reading
US / Blockbuster to shed thousands of jobs
ideo rental business Blockbuster plans to close hundreds of stores in the coming weeks and expects to shed thousands of jobs, the company said Tuesday. Blockbuster, which was bought by Dish Network (DISH, Fortune 500) in 2010 after going bankrupt, plans to close about 300 stores and cut about 3,000 jobs, said Dish spokesman John … Continue reading
UK / Blackburn with Darwen Council to cut 500 jobs
Blackburn with Darwen Council – The “painful” cuts package is to fill a funding gap of up to £30m – about 20% of the total council budget. Other potential cost-saving measures include reduced library opening hours, less grass cutting and street cleaning and stopping school clothing grants. The latest measures come on the back of savings totalling … Continue reading
NXP to layoff 700 to 900
NXP Semiconductors is planning to start a reorganisation process to reduce cost of support services, as a line in this, 700 to 900 jobs hang loose. The majority of the cuts will take place in Europe, although the US and Asia will also see some cuts, reports Tweakers.net The number of layoffs is still uncertain … Continue reading
UK / 5,300 Soldiers To Lose Jobs
More than 5,000 soldiers will be made redundant in the latest round of job cuts, the Government has announced. The Army will bear the heaviest burden in this third wave of redundancies because the Navy and RAF have already completed most of their necessary cuts. Up to 5,300 soldiers will lose their jobs, although anyone … Continue reading
Australia / QBE could cut 700 jobs
Hundreds of jobs are under threat at global insurer QBE as it prepares to finalise a massive cost cutting plan. The insurance giant is reportedly considering axing 700 jobs from its Australian workforce as it seeks to slash costs. QBE on Monday refused to confirm how many jobs could go, but noted that it had … Continue reading
Switzerland / Better to be young when laidoff
What happens to people who lose their job in mass redundancies in Switzerland? According to a Lausanne University study, most people find another position quickly – unless you are in the last phase of your working life. Switzerland has one of the lowest unemployment rates in Europe – 2.9 per cent on average in 2012. … Continue reading
UK / Blockbuster: 760 jobs to go
Collapsed DVD and games rental firm Blockbuster is to close 129 of its 528 stores in the coming weeks and make 760 of its 4,190 employees redundant , its administrator confirmed today. Thirty-one stores have already been put on notice of closure with a number of closing-down promotions announced. Lee Manning, of administrator Deloitte, said: … Continue reading
Kazakhstan / ArcelorMittal / 2,000 jobs cut
ArcelorMittal, expects output at its Kazakhstan mill, which relied on Iran for a third of its business before Western sanctions were imposed, to fall again in 2013 and will shed about 2,000 jobs to cut costs. Shipments at the world’s largest steelmaker’s Temirtau site dropped to 2.8 million tonnes last year from 3.2 million in … Continue reading
UK / Worcestershire County Council / To cut another 650 jobs
An extra 650 jobs cuts will not affect front line services according to the leader of Worcestershire County Council. The council has said the jobs will go by 2017, in addition to 850 redundancies it has already announced. Council leader Adrian Hardman said it would be “principally backroom jobs” that will go at County Hall … Continue reading
State Street Plans to cut 630 Jobs
State Street (STT) logged a stronger-than-expected 23% jump in fourth-quarter profits on Friday thanks to higher fees, but the custody bank also disclosed plans to slash more than 600 jobs around the world. Choosen excerpts by Job Market Monitor from via State Street Grows 4Q Net 23%, Reveals Plans to Axe 630 Jobs | Fox … Continue reading
Sweden / One in four compagnies planning layoffs
A gloomy outlook for Europe and Sweden was the main reason behind almost 25 percent of companies stating that job cuts were high on the list of cost saving measures this year. This is an increase of more than 30 percentage points compared to a similar survey from last year. The report was produced by … Continue reading
Sanford, NC / Pfizer: 400 layoffs
Pfizer Inc. confirmed layoffs at its Sanford plant this week, continuing the company’s plan to cut 400 positions locally by 2015. Pfizer spokesperson Joan Campion wouldn’t confirm the number of people laid off at the Sanford site, located at 4300 Oak Park Road, but said Thursday that fewer than 40 of the plant’s 650 employees … Continue reading
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