Job Market Monitor
Layoffs
Australia / Brisbane Children’s Hospital cuts 99 full-time jobs
Jobs are being shed at the Royal Children’s Hospital in Brisbane as part of a bid to save taxpayers $15 million. Children’s Health Queensland Hospital and Health Service has confirmed it is cutting 99 full-time jobs, or five per cent of the workforce. This will see positions reduced at the Royal Children’s Hospital, the Child … Continue reading
Pennsylvania / U.S. Steel announces layoffs in McKeesport
U.S. Steel said Friday it is laying off more than half of the workforce at its tubular plant in McKeesport, citing competitive pressure from imports. Spokeswoman Courtney Boone said the company will lay off 142 hourly workers represented by the United Steelworkers union in order to bring staffing in line with production levels. The company … Continue reading
American Superconductor Cuts 25% Jobs
Wind and grid sector solutions provider American Superconductor Corp. (AMSC: Quote), Wednesday slashed its workforce by 25 percent in order to cut costs amid weakness in the wind power market. The company has cut its outlook for the third quarter, as a result of anticipated wind turbine electrical control system shipment delays to certain of … Continue reading
Arizona / Resolution Copper eliminating about 400 jobs
An Arizona mining company announced Friday it will suspend shaft and drilling work at its Superior operation and eliminate about 400 jobs, saying the moves are the result of continued uncertainty around a proposed land exchange. Resolution Copper Mining officials said they will try to place affected workers in other jobs within the company. Some … Continue reading
Fresno Call Center to close / More than 700 jobs
Bank of America (NYSE: BAC), the Charlotte based banking giant, plans to close its Fresno call center in August 2013. Jennifer Darwin, a corporate spokesperson with Charlotte, N.C.-based Bank of America, confirmed the closure, but declined to say how many workers would be affected. The layoffs at the call center will be upwards of 700 … Continue reading
Manchester / Up to 900 more jobs to go
Manchester City Council has confirmed up to 900 jobs could be cut as the authority tries to make savings of about £80m over the next two years. The city has seen its budget cut by almost £170m since its government funding was reduced last year. Two-thousand posts have already been lost through budget cuts. The … Continue reading
Barclays / 3,500 jobs could be cut
Barclays could ax as many as 3,500 investment bank staff and cut its advisory or equities operations in Asia as part of a broader strategic review aimed at fixing the bank’s culture in the wake of the financial crisis. The future shape and size of the investment bank is seen as the most critical part … Continue reading
Siemens / To Cut 4,700 More at Osram
Siemens AG (SIE) announced plans to eliminate an additional 4,700 jobs at its Osram lighting subsidiary to reap 1 billion euros ($1.3 billion) in cost savings as the market for traditional light bulbs shrinks. The job cuts, which are focused primarily outside Germany, come on top of 1,900 positions that Osram already reduced in fiscal … Continue reading
Texas Instruments / Notification of workers has begun
Texas Instruments yesterday began notifying employees about layoffs that were announced two weeks ago as the company exits the wireless mobile market, according to a letter the company sent to the Texas Workforce Commission. The Dallas-based chipmaker plans to cut 1,700 jobs, or about 5 percent of its workforce, over the next year. That includes … Continue reading
UK / Direct Line cuts 236 more jobs
Insurance group Direct Line is to cut a further 236 jobs as part of efforts to save £100million in costs. It said the roles would be cut across divisions including its commercial underwriting operation and risk and compliance function. The latest jobs cull comes on top of redundancies already announced by the group this year, … Continue reading
Wessanen / To cut 300 jobs in Europe
Dutch food group Wessanen said on Thursday it would cut 300 jobs and reduce costs by 15 million euros ($19 million)from 2014 onwards as it restructures its European and frozen foods businesses. Source: via Dutch food group Wessanen cuts 300 jobs in Europe | Reuters.
Canada / Recessions / Many high-seniority workers experienced substantial long-term earnings losses
Most long-term workers who were laid off in the different economic contexts of the early 1990s and the early 2000s managed to find work and earn wages or salaries during the next five consecutive years. However, many experienced earnings losses when they returned to work. The magnitude of losses varied significantly depending on factors such as labour … Continue reading
LivingSocial / To lay off 400 in U.S.
LivingSocial Inc. is slated to launch a major round of layoffs Thursday, with as many as 400 job cuts expected across its U.S. workforce, according to sources with knowledge of the daily deal giant’s plans. Those cuts are expected to span a wide range of positions and markets, including in LivingSocial’s home turf of D.C., … Continue reading
Ireland / AIB / Target of 2,500 lay-offs by 2014
ALLIED Irish Banks (AIB) has said it expects to hit its target of 2,500 lay-offs by 2014. More than 1,000 staff have left under a voluntary scheme, including early retirement, with another 700 to go by the end of December. In an interim management statement, AIB said it expects to see bad debt provisions for … Continue reading
Las Vegas / Retama / About 296 employees have received layoff notices
About 296 employees at Retama Park have received layoff notices as a Las Vegas casino company continues its quest to acquire the Selma racetrack — but that doesn’t mean hundreds will lose their jobs. Angela Cooper, director of human resources for Retama Entertainment Group, which has provided management services at the track, said the layoff … Continue reading
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