Job Market Monitor
Layoffs
Barclays – To cut more than 30,000 jobs. Yes or no ?
Barclays Plc plans to cut more than 30,000 jobs within two years after firing Chief Executive Antony Jenkins this month, The Times reported on Sunday. This redundancy program, which could reduce the bank’s global workforce below 100,000 by 2017 end, is considered as the only way to address the bank’s chronic underperformance and double its … Continue reading
Microsoft – To cut 7,800 jobs
Microsoft Corp. plans to cut as many as 7,800 jobs and write down about $7.6 billion on its Nokia phone-handset unit, wiping out nearly the entire value of a business that failed to gain market share since it was acquired last year. The company also will record a restructuring charge of about $750 million to … Continue reading
BBC – To cut hundreds of jobs
Hundreds of jobs are expected to be axed by the BBC as it tries to become “leaner and simpler” at a time when it is facing a £150m-a-year shortfall in funding and growing political pressure from the Conservative government. Tony Hall, the director general, is expected to warn on Thursday that a drop in the … Continue reading
Microsoft – To cut 1200 jobs
Microsoft Corp (MSFT.O) said on Monday it will hand over its display advertising business to AOL Inc and sell some map-generating technology to ride-hailing app company Uber, as it slims down its money-losing online operations. The moves mean Microsoft will focus on its growing search advertising business based on its Bing search engine, and displaying … Continue reading
MAN SE (Volkswagen) – To cut 1,800 jobs
Germany’s MAN SE plans to cut around 1,800 jobs at its main trucks division as the Volkswagen-owned (VOWG_p.DE) company slims operations to lower costs and revive profit, two people familiar with the situation said on Wednesday. The job cuts will affect 1,400 white-collar employees and 400 staff in production, the people said. MAN Truck & … Continue reading
Ericsson – 2,200 jobs cut
Swedish vendor eliminates 2,100 positions; 1,700 staff set to leave the company. Ericsson on Wednesday revealed that it has begun giving notice to staff facing redundancy as part of its 9 billion-kronor (€987 million) cost-cutting programme. In the past few weeks approximately 2,100 positions have been eliminated at the vendor’s Swedish R&D and supply operations. … Continue reading
National Oilwell Varco – To cut 1,500 jobs
Houston-based oil equipment maker National Oilwell Varco’s Norwegian arm said Wednesday it is shedding 1,500 jobs, or about a third of its staff here, as sales drop on lower oil prices and industrywide spending cuts, a day after Norway’s dominant oil company Statoil ASA announced a similar-sized job cut. National Oilwell Varco Norway said it … Continue reading
UK’s North Sea – Job losses raise skills and safety concerns
Cost-cutting in Britain’s North Sea oil and gas sector could lead to more acute skills shortages in future, industry experts have warned, with some expressing concerns that safety could be compromised. A plunge in crude prices over the last 12 months has prompted oil majors such as Royal Dutch Shell, BP , Chevron and ConocoPhillips … Continue reading
Gap – To cut 250 jobs at headquarters
Apparel retailer Gap Inc said it would close 175 Gap stores in North America, including 140 this year, and cut about 250 jobs at its headquarters. The company has been struggling with a persistent slump in sales at its namesake brand. Chosen excerpts by Job Market Monitor. Read the whole story at REFILE-Gap to close 175 stores, … Continue reading
Statoil Cutting up to 1,500 Permanent Jobs – WSJ
Norway’s Statoil launched the next phase of its efficiency program on Tuesday, announcing it would cut between 1,100 and 1,500 permanent employees by the end of 2016 as it looks to increase efficiency and strengthen competitiveness. The oil and gas major said a further 525 consultant positions will also be cut, while additional changes … Continue reading
HSBC – To cut 50,000 jobs
HSBC (HSBA.L) pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. Chief Executive Stuart Gulliver has made it his mission to boost profits since taking the helm of Europe’s … Continue reading
Rolls-Royce – to cut 600 jobs in marine unit
British engineering group Rolls-Royce (RR.L) said it would cut 600 jobs in its Norwegian-focused marine business in response to the lower oil price, a move it said would have a “broadly neutral” impact on 2015 profits. Rolls-Royce is in the middle of a cost-saving plan in its aero-engines business and headquarters, axing 2,600 jobs, and … Continue reading
Bombardier – 1,750 job cuts, 1,000 in Montreal and another 480 in Toronto
Bombardier Business Aircraft has announced it is cutting 1,750 jobs, including 1,000 in Montreal and another 480 in Toronto. The Montreal-based company said that current economic conditions and political turmoil in Russia, China, and Latin America have impacted the entire industry and has meant the company has had to reduce its production of its Global … Continue reading
Areva – To cut between 5,000 and 6,000 jobs, between 3,000 and 4,000 in France
Beleaguered French nuclear engineering firm Areva SA plans to reduce its global payroll by between 5,000 and 6,000 jobs as part of a cost-cutting effort after years of losses. The largely government-owned company has opened talks with labor unions to find ways to cut its payroll through voluntary departures, Areva’s head of human resources François … Continue reading
Siemens – To cut 4,500 jobs
Siemens reported Thursday it would need to cut a further 4,500 jobs as part of its global restructuring effort, with a view to making the company more competitive and profitable. It said 2,200 jobs would have to be slashed in Germany. Siemens noted on its website this morning that the move was primarily aimed at … Continue reading
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