Job Market Monitor
Layoffs
Dow Chemical – To cut up to 1,750 jobs
Dow Chemical Co. said Monday it would cut between 1,500 and 1,750 jobs, or about 3% of the global workforce, as part of a restructuring aimed at cutting costs by $300 million a year. Chosen excerpts by Job Market Monitor. Read the whole story at Dow Chemical to cut up to 1,750 jobs as part of cost-cutting … Continue reading
GM at Oshawa – To cut 1,000 jobs
General Motors expects to cut around 1,000 jobs at its Oshawa manufacturing plant by this November, the automaker said Thursday. The union representing the workers said it has been bracing for the cuts since 2012, when GM first announced it will move Chevrolet Camaro production from Oshawa to Michigan. But a heads-up doesn’t make bad … Continue reading
Bell Helicopter – To cut 1,100 jobs but still hiring in new plant in Lafayette
Bell Helicopter’s decision to cut 1,100 jobs from its global workforce will not affect the company’s plans to hire 115 employees at a helicopter assembly plant now under construction at Lafayette Regional Airport, a company official said Tuesday. The job cuts at Bell were announced Tuesday, along with disappointing first-quarter financial results. David Sylvestre, director … Continue reading
Future Shop – 1,500 employees hit with surprise layoffs
The future is cloudy for 1,500 full- and part-time Canadian retail employees who were hit with surprise layoffs this weekend in the Future Shop retail consolidation with Best Buy. Future Shop employees say they were as surprised as everyone else when the company shut its doors across the country on Saturday, ahead of a move … Continue reading
European and US Banks – 59,000 jobs cut in 2014
A total of 59,000 jobs in top European and US banks were axed in 2014, bringing the total job cuts to 160,000 across 24 banks in the past two years, authorities said. Chosen excerpts by Job Market Monitor. Read the whole story at Banks in Europe, US Lay Off 59,000 Jobs in 2014 – BusinessNewsAsia.com.
Volkswagen in Russia – To cut working hours and jobs
Volkswagen (VOWG_p.DE) will reduce shifts and lay off at least 150 workers at its Russian car plant, the German car producer said on Monday, to try to cut costs in a market downturn. via Volkswagen to cut working hours, jobs at Russian plant | Reuters.
Sharp – To cut 6,000 jobs
Japan’s loss-making Sharp Corp (6753.T) intends to cut 12 percent of its workforce in a global restructuring expected to cost more than $1.7 billion, a person familiar with the plan said on Thursday. The job cuts will total around 6,000, half of which would come in Japan through early retirement while the rest would be … Continue reading
Yahoo in China – To cut “around 350” jobs while closing
Internet giant Yahoo is closing its China office as part of a worldwide consolidation aimed at cutting costs. The Beijing research centre is Yahoo’s only remaining physical presence in the country after it sold its Chinese operations to Alibaba in 2005. A spokesperson said “around 350 jobs” would be eliminated. “We are constantly making changes … Continue reading
France – To cut 22,000 hospital jobs
The French government’s bid to cut €3 billion off its bill for hospital spending will see up to 22,000 posts deleted over the next two years. France’s plan to save billions on health spending has become a little clearer. Health minister Marisol Touraine says over the next two years 22,000 jobs will not be filled … Continue reading
Royal Bank of Scotland (RBS) – To cut 14,000 jobs by 2019
The UK’s state-rescued Royal Bank of Scotland (RBS) is set to cut up to 14,000 jobs in its investment banking units across the United States and Asia by 2019, the Financial Times reported on Wednesday. The number amounts to 80 percent of the jobs in the RBS’s investment banking sector, which is scheduled to experience … Continue reading
Royal Bank of Scotland (RBS) – To slash thousands more jobs
The bank, which has now reported seven straight losses adding up to £49.7bn since its 2008 bail-out, also said it would slash thousands more jobs in a dramatic restructuring of its investment bank, exiting two-thirds of the unit’s geographies and cutting around £70bn of assets. Chosen excerpts by Job Market Monitor. Read the whole story at RBS … Continue reading
Microsoft in China – To cut 9,000 Nokia jobs
Microsoft Corp. plans to shut two mobile-handset manufacturing plants in China formerly run by Nokia Corp., cutting about 9,000 jobs in total, various reports said Thursday. Microsoft, which bought Nokia’s handset business last April, scheduled the closure of the plants — located in Beijing and the southeastern city of Dongguan — earlier this month and … Continue reading
Total – To cut 2,000 jobs
Total SA on Thursday became the latest casualty of the oil-price swoon, reporting a $5.66 billion net loss for the latest financial quarter and promising to shed billions more in cost savings, including 2,000 layoffs by 2017. Chosen excerpts by Job Market Monitor. Read the whole story at France’s Total Plans to Cut Jobs, Sell Assets After … Continue reading
SocGen in Russia – To cut 1,500 jobs
Societe Generale SA plans to eliminate about 1,500 jobs in Russia this year as the country’s economic contraction squeezes profitability, according to a person with direct knowledge of the discussions. Societe Generale cut about the same numbers of positions in Russia in 2014, said the person, who asked not to be identified because the matter … Continue reading
Oil Industry – Mass layoffs complicate long-term plans
More than 100,000 layoffs have been announced across the industry worldwide since prices began to slide last summer, according to a tally kept by Bloomberg. In recent weeks other major service companies have announced job reductions. Halliburton announced it will cut 6,400 jobs (8 percent of its global workforce) while Schlumberger will eliminate 9,000 positions … Continue reading
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