Job Market Monitor
Layoffs
ING to cut jobs more than 2,000 jobs worldwide
ING (ING.AS), the largest Dutch financial services group, is to cut more than 2,000 jobs worldwide as it prepares to separate its banking and insurance operations in difficult markets. The cuts, which equate to 2.5 percent of ING’s workforce, come as banks across Europe shed staff in a reassessment of their businesses after the financial … Continue reading
Sweden – Ericsson – 1550 jobs cut
Ericsson (NASDAQ:ERIC) informs its employees in Sweden about the plan to reduce its operations in Sweden that involves a reduction of an estimated 1,550 positions, covering all job areas, including sales, general and administration, research and development, supply and service delivery. “It is naturally a difficult message for our employees in Sweden,” says Tomas Qvist, … Continue reading
UK – Maltby Colliery – 500 jobs at risk
Maltby Colliery – one of the south Yorkshire pits that saw picketing violence during the 1980s miners’ strike and one of the UK’s last remaining deep coal mines – is to be mothballed by its owner, industrial materials group Hargreaves Services. The move, which puts 500 jobs at the 100-year-old pit at risk, comes after … Continue reading
Vestas Cuts 3,000 More Jobs
Vestas Wind Systems A/S (VWS) is seeking to sell a stake of as much as 20 percent and said it’s reducing headcount by 3,000 to raise the staff cuts by the biggest wind turbine maker to almost a third over two years… “What’s important is that we have investors who understand the company, the segment … Continue reading
US federal tax credit subsidies to expire – Wind industries lay off hundreds of workers
Hundreds of workers in our region are losing their jobs as wind turbine manufacturers cut production. The federal tax credit that subsidizes wind energy is set to expire at the end of the year, and political uncertainty is putting the brakes on the wind industry. More than 500 workers are losing their jobs in the … Continue reading
Kalshnikov Maker – Layoffs To Come
Russia‘s troubled maker of the iconic Kalashnikov assault rifle faces layoffs and a possible merger with another arms manufacturer, a media report said Tuesday. The Russian army last year failed for the first time to order new AK-47s, of which it says it already has 17 million in stock, a massive supply for its 1 … Continue reading
Alcatel-Lucent – More Job Cuts Might Come
Alcatel-Lucent SA (ALU) Chief Executive Officer Ben Verwaayen will need to eliminate an additional 10,000 positions to catch up with more efficient rivals as the unprofitable phone-equipment maker’s cash pile dwindles. Even taking into account the 5,500 job cuts announced in October, Alcatel-Lucent’s revenue per employee was 49,700 euros ($63,600) last quarter, at least 14 … Continue reading
London – Financial sector to cut 13,000 jobs in 2013
London’s financial sector will lay off 13,000 staff in 2013, cutting employment in a key UK economic sector to a 20-year low, as job vacancies also drop in Europe and even Asia, studies showed. Financial firms in Europe’s biggest financial center have laid off more than 100,000 employees since a market peak in 2007, driven … Continue reading
NE – Shaw to cut 700 jobs
Shaw’s Supermarkets on Friday announced plans to cut about 700 jobs at 169 Shaw’s and Star Market stores in five New England states. About 90 employees affected by the layoffs have already been notified, and the rest will be informed over the next several days, the company said. “A decision of this nature is never … Continue reading
US – Hospital mass layoffs for 2012 expected to match 2011’s numbers
Thirteen mass layoffs occurred in hospitals in September, affecting 817 people, according to a monthly report released Oct. 23 by the U.S. Bureau of Labor Statistics. If numbers hold steady for the remainder of 2012, the industry is on track to have a similar annual count of mass layoffs as it did in 2011. Ninety-three … Continue reading
Sweden – SCA to cut 1,500 jobs
Swedish hygiene and paper products maker SCA is to cut jobs, affecting 1,500 people, as part of a move to reduce annual costs by around 300 million euros ($385 million)… “About 1,500 employees are affected and costs are expected to be some 100 million euros,” chief executive Jan Johansson said in a statement ahead of … Continue reading
South Africa – Xstrata fires 400 strikers
Global diversified mining firm Xstrata (XTA.L) has dismissed 400 workers involved in an illegal strike at its Kroondal chrome mine in South Africa, the company said on Friday. The mine employs a total of 619 workers. The sacked miners have until 09:00 am EDT on Friday to appeal their dismissals. “Most of production at Kroondal … Continue reading
St. Paul, Minnesota – St. Jude Medical cutting 500 jobs
St. Jude Medical said Thursday that it has laid off another 500 people as it restructures to deal with slumping sales of its heart devices. In August, St. Jude said it had terminated 300 employees, including 80 in Minnesota, as part of a broader companywide reorganization expected to slash $50 million to $60 million in … Continue reading
Australia – Holden 170 jobs cut
Australia’s ailing auto industry has suffered another blow with car maker Holden axing 170 jobs just a day after a key component manufacturer closed its doors and stood down about 400 workers. Holden said falling demand for its locally built vehicles, due to the high Australian dollar, had forced its hand. The company said the … Continue reading
Sandy – Rhode Island: UI waiting-period waivers available for Huricane-related layoffs
Governor Lincoln D. Chafee has issued a statement announcing that Rhode Island workers unemployed due to the effects of the Hurricane Sandy may be able to waive their 1 week waiting period for benefits. For a Limited Time receive a FREE HR Report “Top 10 Best Practices in HR Management.” This comprehensive special report will … Continue reading
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