Job Market Monitor
Layoffs
Germany / Air Berlin: 900 job cut
Germany’s second-largest carrier, Air Berlin, has said it would cut about one-tenth of its workforce to become profitable again. The airline is in the middle of a restructuring program to reduce overall costs. Germany’s Air Berlin announced on Tuesday it would cut 900 jobs by the end of 2014 to help make the struggling carrier … Continue reading
US / Solar Energy / Hemlock Semiconductor Laying off 400
Hemlock Semiconductor Group said on Monday it will lay off about 400 workers in Tennessee and Michigan due to a global glut of polysilicon and the threat of tariffs on its products sold in China. Hemlock is a major producer of polysilicon, the raw material used in most photovoltaic solar panels. It is a joint … Continue reading
Irish public service / No more ‘jobs for life’ with compulsory redundancies
THE Government is planning to bring in compulsory redundancies in the public sector as part of the new Croke Park deal. Marking an end to the concept of a job for life in the public service, it will be the first time the threat of non-voluntary redundancy will be available. The compulsory redundancies will mainly … Continue reading
Barclays, Deutsche Bank / To cut pay up to 20 percent
Barclays (BARC.L) and Deutsche Bank (DBKGn.DE) will take a knife to bonuses for investment bankers in the coming weeks as they seek to tackle high costs, people familiar with the matter said. Britain’s Barclays is finalizing bonuses for last year and overall 2012 compensation for investment bankers will fall by between 10 percent and 20 … Continue reading
Sweden / SKF to cut 2,500 jobs
SKF (SKFb.ST), the world’s biggest bearings maker, is cutting 2,500 jobs to cope with weaker demand, underscoring the bleak outlook for manufacturers as Europe drives through austerity measures to reduce its debts. The Swedish firm, whose bearings are used in a range of products from washing machines to aircraft, is seen as an early indicator … Continue reading
N.Y. Times: Layoffs Would Include High-levels
The New York Times may be forced to lay off a number of editorial staff, including high-level editors, according to staff sources. The speculation around the newsroom, first reported by New York Magazine’s Joe Hagan and confirmed by POLITICO, is that managing editor John Geddes, assistant managing editor Jim Roberts, dining editor Susan Edgerley, former Washington editor Rick … Continue reading
Campbell Soup / Sacramento / First Round Of Layoffs
It’s not the way anyone wants to start the New Year; but in just a few weeks, nearly 300 Campbell’s Soup employees will spend their last day on the job as the plant readies to close after more than 60 years in Sacramento. In just three weeks, production at Campbell’s Soup will start to slow … Continue reading
Time Magazine / Layoffs to come
Time Inc. is reportedly planning to slash hundreds of jobs, the New York Post’s Keith Kelly exclusively reported on Thursday. Sources told Kelly that the first round of layoffs, which were originally expected to hit last week, had been pushed back till next month. Chosen excerpts by Job Market Monitor from via Major Time Inc. … Continue reading
American Express / 5,400 jobs to be cut
American Express Co. said Thursday that it will slash about 5,400 jobs, mainly in its travel business, as it seeks to cut costs and transform its operations as more of its customers shift to online portals for booking travel plans and other needs. The job cuts will be partly offset by jobs that the company expects to … Continue reading
UK / Honda cuts 800 jobs at Swindon
Honda is cutting 800 jobs in Swindon as the shrinking European car market forces the company into its first ever UK job cuts. Honda blamed the slump in European sales as it announced it will cut its Swindon workforce by almost a quarter, months after hiring hundreds of new employees. “It’s entirely the car market,” … Continue reading
Morgan Stanley / 1,600 layoffs to come
The Wall Street investment bank is cutting 1,600 staff, with about half the reductions coming from outside the US. The bank employs several thousand people in the City. Chief executive James Gorman warned late last year that the investment banking industry still had “way too much capacity and compensation is way too high”. The cuts … Continue reading
Redundant / Am I now nothing ?
Redundant 1. No longer needed or useful – superfluous; 2. Able to be omitted without loss of meaning or function. I have now lived through 683 days of redundancy, each one against my embattled will. Like 26 million people across the EU, I long, desperately, to fall asleep with the contentment and exhaustion of a … Continue reading
Spain / Bank workers protest layoffs
Crisis-hit Spanish bank workers called for nationwide protests on Wednesday, fuming over tens of thousands layoffs in the industry and lashing out against top executives they hold responsible. The Spanish banking sector is still staggering from the blow of a 2008 property crash, which left lenders awash with bad loans. Prime Minister Mariano Rajoy last … Continue reading
Payless ShoeSource / Topeka / 45 layoffs at headquarters
Payless ShoeSource announced Tuesday the layoffs of 45 people from its headquarters on S.E. 6th. A statement from the company said an additional 97 open positions wouldn’t be filled. The unfilled positions are from various parts of Payless ShoeSource’s global operations, the statement said, and it wasn’t clear how many of those jobs are in … Continue reading
Lexmark / 550 Layoffs
“Difficult decisions need to be made.” That’s what Lexmark’s executive vice president Marty Canning said about the company’s recent layoff of 550 workers in Lexington, KY, we learn in “Lexmark in Midst of Major Change” from the Lexington Herald-Leader. Under pressure from a shifting industry, the company has chosen to shift with it. Based in … Continue reading
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