Job Market Monitor
Layoffs
Yediot Plans Dozens of Layoffs
One of Israel’s most prominent daily Hebrew newspapers, Yediot Aharonot, will lay off dozens of journalists. The downsizing comes in an era when newspapers worldwide are experiencing cuts. Yediot’s layoffs will include senior staff members and veterans of the organization, according to Israeli business publication Globes. The cuts will affect the paper’s health and travel … Continue reading
Philadelphia Orchestra Exites Bankruptcy
The orchestra stunned the arts community when it became the first major U.S. orchestra to file for Chapter 11 bankruptcy protection in April 2011. Under the reorganization plan, the 111-year-old symphony will shrink from 105 musicians to 95 and cut their pay by about 15 percent. The orchestra also got a break on its rent … Continue reading
Michigan – Unemployment agency laying off up to 400 workers | MLive.com
The state is laying off up to about 400 employees in its unemployment insurance agency, ironically citing an improved economy as the reason for the cuts. Michigan’s Unemployment Insurance Agency will give two-week layoff notices to up to 225 permanent staff members on Aug. 31. Another 177 limited-term employees have been laid off, said Mario … Continue reading
Unknown number of layoffs hit several studios in Seattle area
WB Games Seattle, which is composed of Monolith Productions, Snowblind Studios and Surreal Software have been hit with an unknown number of layoffs today. A source close to the studio confirmed to Joystiq that the Seattle team has been affected. Nothing concrete has been announced as of yet, though earlier layoffs saw around 60 people … Continue reading
Deutsche Bank – 1,900 jobs cut
Deutsche Bank said Tuesday it plans to cut about 1,900 jobs, most of them outside Germany, as its earnings fell 46 per cent in the second quarter as the European debt crisis hurt its investment banking and trading activities. The bank, which employs nearly 101,000 people, said about 1,500 of the job cuts will be … Continue reading
Qantas – 164 jobs cut with engine plant closing
Qantas and its airline partner Lufthansa have confirmed that the decision to close their engine plant at Tullamarine will mean the loss of 164 airline maintenance jobs. The union which covers many of the employees, the Australian Workers Union, says it hopes it can save the plant along with the jobs. The Qantas engines which … Continue reading
4 Big Banks to Begin New Layoffs
Here are big banks that are or could be planning big layoffs. Bank of America (NYSE:BAC): On Wednesday, BofA announced its intention to cut costs by $3 billion annually in its investment-banking, commercial-banking and wealth-management units. These cuts will happen by 2015. Goldman Sachs (NYSE:GS): The mega bank also announced Wednesday its plans to cut … Continue reading
Illinois child welfare agency starts layoffs: 375 jobs plus 250 administrative positions
Hurt by deep budget cuts, Illinois’ child welfare agency began a round of layoffs Friday that will cut hundreds of jobs and “greatly reduce” its efforts to prevent neglect and abuse. The Department of Children and Family Services must find ways to absorb nearly $86 billion in budget cuts, a reduction of 6.8 percent. Spokesman … Continue reading
Pennsylvania – Coal companies – Layoffs blame on Obama administration
Pointing their fingers in part at regulations the Obama administration has imposed on their industry, two coal companies announced layoffs Friday. Pennsylvania’s PBS Coals Inc. and the affiliated RoxCoal Inc. announced that they would idle some of their deep and surface mines, laying off 225 employees in the process. “Both the foreign and domestic coal markets … Continue reading
Bain Capital – Layoffs – A ‘Demoralizing’ Culture
When Dade Behring started cutting employees under Bain Capital’s management in the late ’90s, Cindy Hewitt was on the front lines. As a human resources manager for the Dade East plant in Miami, Hewitt had to decide which employees had needed skills and whose jobs were expendable. News of the latest layoffs trickled down to … Continue reading
An additional 200 Layoffs in Nassau County
An additional 200 Nassau County workers will be losing their jobs following an announcement by Nassau County Executive Ed Mangano Monday morning. Reacting to a report from County Comptroller George Maragos which stated that the county ended fiscal 2011 with a $45 million projected deficit, Mangano announced that as part of his latest plan to … Continue reading
Cisco – 1,300 jobs cut
Network equipment maker Cisco Systems said on Monday that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company. “We are performing a focused set of limited restructurings that will collectively impact approximately 2 percent of our global employee population,” the company said in an emailed statement. These actions … Continue reading
India – Tirupur – Tamil Nadu – Shut Down and layoffs
For years, Tirupur kept its date with major global sporting events where T-shirts and jerseys knitted in the Tamil Nadu hosiery town catered to tens of thousands of sports fans. At the Euro 2012 soccer championship, though, Tirupur was missing from the action. “We got orders for Euro T-shirts this year too but could not … Continue reading
Citigroup – 350 Job Cuts in Securities Division
Citigroup Inc. (C), the third-biggest U.S. bank, plans to cut about 350 additional jobs this year from the securities division, which includes investment banking and trading, according to a person with knowledge of the matter. The reduction equals about 2 percent of the unit’s staff, according to the person, who asked for anonymity because the … Continue reading
Layoffs in 2012 – Should go down
If you have a job, good news: A new survey finds that there’s a good likelihood you’re going to keep it. Right Management, a division of staffing firm Manpower Group, finds that 69 percent of U.S. companies plan no layoffs through the end of 2012. Just 1 percent are planning significant layoffs, the survey found, … Continue reading
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