Layoffs

Denmark – Danske Bank to cut 3000 jobs

Danske Bank unveiled plans to cut 3,000 jobs and sell 7 billion kroner (€900 million) in shares as Denmark’s largest lender looks for ways to increase its capital buffers. The measures were announced together with Danske’s third-quarter report, showing net income of 1.31 billion kroner, compared with a loss of 384 million kroner a year … Continue reading →

Switzerland – Straumann – To cut 150 jobs

Swiss dental implant maker Straumann (STMN.S) said it would axe roughly 150 jobs to boost margins as it grapples with sluggish demand in Europe, its biggest market. The euro zone debt crisis has battered sales of dental implants made by Straumann and its Swiss rival Nobel Biocare (NOBN.S) as cash-strapped Europeans, worried about the downturn, … Continue reading →

Canada – Veterans – Declared ‘surplus’ employees

The growing number of federal employees declared surplus as departments digest the Conservatives government’s spending cuts are squeezing out medically discharged veterans who have also been promised a shot at jobs in the public service. And a Senator who has taken up the cause of veterans believes the only solution is for the government to … Continue reading →

Vodafone Hutchison Australia – Massive job cuts to come

Vodafone Hutchison Australia will cut a significant number of jobs across the country, as the organisation looks to recover from massive losses due to network issues that stem back to 2010. It is expected that 10 percent of the company’s workforce, of approximately 5,000, will be made redundant as part of the measure. CEO Bill … Continue reading →

Montreal – Pfizer cuts 300 jobs

Pharmaceutical giant Pfizer has announced it’s cutting about 300 jobs across Canada, most of them in Montreal. Julie-Catherine Racine, a spokesman for Pfizer Canada, said Sunday that the cuts will be spread across several locations but the majority will be at the company’s headquarters in the Montreal suburb of Kirkland. “After an extensive and rigorous … Continue reading →

Newell Rubbermaid – Over 1,900 jobs to be cut

Newell Rubbermaid plans to cut more than 1,900 jobs, or about 10 per cent of its worldwide workforce, over the next two and a half years. The consumer products company, known for Sharpie pens and its namesake containers, said Friday that all savings from the job cuts will be reinvested into growing its brands globally … Continue reading →

Ireland – Jobs for 250, but 60 posts go

TWO firms have given one county a 200-jobs boost, but 60 were lost when a company went into liquidation after seven decades in business. Call centre provider Voxpro and meat processor Kepak made the announcement of 200 new positions for Cork. And 50 jobs are to be created by Europcar with the opening of new … Continue reading →

UPDATE – UBS – Job losses could reach 10,000

The bank will publish third-quarter figures on Tuesday and could concede that as many as 10,000 of its 60,000 staff will be shed in the coming years. UBS announced plans to cut 3,500 jobs to save £1.5bn just over a year ago. The changes are part of a strategy devised by the new management team … Continue reading →

Colgate – To cut about 2,310 jobs

Colgate-Palmolive Co (CL.N) unveiled a cost-cutting plan on Thursday that included cutting its workforce by the end of 2016 by about 6 percent. The toothpaste maker, which has some 38,600 employees, also posted a higher quarterly profit that met analysts’ expectations… Choosen excerpts by JMM from via Colgate to cut about 6 percent of jobs … Continue reading →

Mass Layoffs – Highest Since 2010 Finds Blommberg

Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales. North American companies have announced plans to eliminate more than 62,600 positions at home and abroad since Sept. 1, the biggest … Continue reading →

Peugeot gets government rescue

PSA Peugeot Citroen (PEUP.PA) unveiled a government-backed refinancing deal for its lending arm as the struggling French automaker’s financial position deteriorated further, sending its stock to historic lows. Europe’s second-biggest automaker said it was close to an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing and had won state guarantees on … Continue reading →

Taiwan – Wistron Corp. plans no layoffs

Wistron Corp., one of Taiwan’s leading original design manufacturers, said Wednesday that it has no plans to lay off any of its employees this year, amid concerns that mass large-scale workforce reductions will take place in the industry. Wistron’s announcement came after Compal Electronics Inc., one of Taiwan’s largest PC makers, reported to Taipei’s Department … Continue reading →

Zynga to lay off 5% of employees

Zynga Inc laid off 5 percent of its full-time workforce and shut its Boston office on Tuesday as it embarked on a sweeping cost-cutting campaign that may eventually see the “FarmVille” game creator close its Japanese and British studios as well. The company, which is trying to arrest a steep decline in earnings as users … Continue reading →

Corning to cut jobs

Specialty glass maker Corning Inc reported a lower quarterly profit as sales to consumer electronics, telecommunication and automotive markets fell, and said it plans to cut jobs and reduce costs. Corning, which makes products as diverse as smartphone screens to emission filters, said it expects a pretax charge of up to $50 million in the … Continue reading →

Belgium – 10,000 jobs losses at Ford (video)