Job Market Monitor
Layoffs
Resolute Forest Products – 240 Layoffs in Fort Frances
About 240 employees will be out of work by the end of the month due to a partial shutdown of the Resolute Forest Products facility in Fort Frances, Ont. The Montreal-based company announced the indefinite idling of the kraft mill and paper machine number 5 at Fort Frances on Tuesday, citing challenging market conditions. A … Continue reading
Greece / IMF apologizes for asking to sack 22,000 people by mistake
The IMF has apologized for a mistaken email demanding Greece dismisses thousands more civil servants than the earlier agreed lay off of 27,000 employees. The letter spurred concerns in the government that more layoffs will be demanded. The email arrived at the Greek Ministry of Finance from the IMF Representative in Athens Bob Traa before … Continue reading
Estonian Air / To lay off half its employees
Estonian Air announced it will lay off nearly half of its personnel. The company said in a press release that 146 of its 318 employees will be let go. That includes 88 onboard crew members, including pilots, and others from support and administrative staff. Due to the need to adjust operations in accordance to the … Continue reading
UK / Standard Life cuts 139 jobs
Standard Life is cutting 139 jobs following the restructure of its UK and Europe business. Affected divisions include adviser and investments and workplace, customer and marketing and UK IT and change. Standard Life says the proposed job cuts will deliver better customer service through a single point of accountability and clearer alignment between the company’s … Continue reading
UK / Newcastle Council cuts 1,300 jobs
More than 1,300 jobs are to be axed by a North East council struggling to trim £90m from its budget. Newcastle City Council – which employs 10,500 staff – will also shut 10 libraries, although it said its new £24m city centre library was safe. A spokesman blamed rising costs and a greater demand for … Continue reading
(UPDATE) SAS | To cut more than 7,000 jobs
SAS Group to cut more than 7,000 jobs SAS Group’s plans to eliminate jobs and shrink its business were accepted by pilot and cabin-crew unions as Scandinavia’s biggest airline fights to stay afloat. SAS surged 29 per cent after reaching accords with all eight labour groups, with one deal that covers 600 Swedish cabin crew … Continue reading
Sharp / 3,000 volunteers for 2,000 job cuts
Struggling Japanese TV maker Sharp Corp (6753.T: Quote) said on Tuesday about 3,000 of its workers volunteered for early redundancy, far more than the 2,000 it aims to lay off in a bid to trim costs amid mounting losses… Choosen excerpts by Job Market Monitor from via Sharp seeks 2,000 job cuts, gets 3,000 volunteers … Continue reading
Job cuts around Europe
Here is look at major company job cuts announced and planned around Europe in the past month as economic worries spread: Source: via FACTBOX-Job cuts around Europe | Reuters.
UK / Hovis To Cut 900 Jobs
The owner of Hovis has announced plans to cut 900 jobs in its struggling bread business as profits become harder to come by. In a statement, Premier Foods said it was to close two bakeries and reform its delivery network. The biggest impact will be felt in Birmingham, where 511 jobs are to be lost … Continue reading
(UPDATE) Greece – No to additional 22,000 layoffs asked by IMF
Greece / Rejecting IMF demand for 22,000 extra layoffs Greece has rejected a last-minute IMF demand for thousands of additional civil service layoffs, a finance ministry source said on Tuesday ahead of a crucial eurozone meeting to debate loan relief for Athens. The global lender on Monday called for 22,000 extra job cuts by 2014 … Continue reading
Banks need another 40,000 job cuts says Roland Berger Strategy
Roland Berger Strategy, one of the world’s leading consulting firms, said the global investment banking sector would need another 40,000 job cuts to restore sustainable economics. The sector has already stepped up restructuring programmes, reduced headcount by about 15,000 since mid-2011 and has announced another 25,000 job cuts. According to a report issued by the … Continue reading
The City / Only 10% of bankers and hedge fund workers believed London will create the most new banking jobs over the next 12 months
Confidence in the City of London jobs market continues to weaken as UK bankers increasingly pick Hong Kong, Shanghai and Singapore as the generators of new jobs, according to a report. A study by recruitment firm Astbury Marsden found that only 10% of bankers and hedge fund workers believed London will create the most new … Continue reading
Stryker Corp. / 1,000 layoffs by end of 2012
Stryker Corp.’s planned layoffs of 5 percent of its global workforce are on track to be completed by the end of 2012. Over the weekend, news reports put the total number of layoffs at 1,170, but Tamara Cutler, vice president of public affairs, said in an email that figure was inaccurate. “The estimated 5 percent … Continue reading
Greece – Rumors that the country’s troika of foreign lenders had called for an additional 22,000 layoffs
Government sources on Monday refuted reports that the country’s troika of foreign lenders had called for an additional 22,000 layoffs in the public sector next year even as municipal employees continued sitins at hundreds of city halls and municipal services across the country to protest their inclusion in a fast-track scheme to redundancy. The demand … Continue reading
(UPDATE) UK – Comet – 6,000 layoffs ?
Comet cuts further 735 jobs The insolvent electrical chain Comet is cutting hundreds more jobs, its administrators have said. Deloitte said there would be a further 735 redundancies at its head office, central functions and across its home delivery network. This is in addition to 330 redundancies already announced. The business had employed 6,611 people. … Continue reading
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