Job Market Monitor
Layoffs
Target Canada – Closing 133 stores that employ 17,600 people
Target Canada is closing up shop. Target said Thursday that it will begin winding down its Canadian operations, which include 133 stores that employ 17,600 people. The Minneapolis-based company said it reviewed its Canadian subsidiary’s performance and concluded that it would not be profitable until 2021. “This was a very difficult decision, but it was … Continue reading
Bombardier – To cut 1,000 aerospace jobs
Bombardier says it’s going to cut about 1,000 employees from its Learjet business in 2015, affecting sites in Mexico and the United States. The Montreal-based aerospace company says the cuts are due to weak demand for the Learjet 85 business jet. Chosen excerpts by Job Market Monitor. Read the whole story at Bombardier to cut 1,000 aerospace jobs … Continue reading
BP – To cut 300 North Sea jobs
Energy giant BP said it was shedding 200 staff jobs and 100 contractors in its North Sea operations today following a sharp drop in oil prices. The company employs around 3,500 onshore and offshore workers in the North Sea operations, mainly in and around the oil hub city of Aberdeen in Scotland. Trevor Garlick, regional … Continue reading
Suncor – To cut 1,000 jobs
Oilsands giant Suncor Energy says it will cut approximately 1,000 jobs and reduce its 2015 spending plans in response to lower oil prices. The job cuts will primarily affect contract workers, but will also involve a reduction in employee positions, according to Suncor’s announcement, made in a press release today. The Calgary-based company also said it will … Continue reading
Zimbabwe – Banks cut 1,000 jobs last year, union says
Banks in Zimbabwe cut 1,000 jobs last year, eliminating one post out of every six in the southern African country’s banking industry, a union official said. ZB Bank Ltd. eliminated 500 positions, while Steward Bank Ltd. and AfrAsia both trimmed 83, said Shepard Ngandu, assistant secretary general of the Zimbabwe Banks and Allied Workers Union. … Continue reading
Evernote – Nearly 20 layoffs
According to a report from The Verge, Evernote, the mobile application that makes many of our lives far easier, has been hit with layoffs. The company has reportedly let go of nearly 20 employees from offices around the world in an effort to focus their attention to development efforts within Redwood City and Zurich. It’s … Continue reading
Symantec – To cut nearly 10%, or 2,000 employees
In its 2Q15 earnings results, Symantec Corporation (SYMC) announced headcount reductions of nearly 10%, or 2,000 employees. The company stated that the layoffs are part of the company’s restructuring process. The restructuring news comes ahead of the company’s plans to split into the following two companies: security and document storage. The split is expected to … Continue reading
Coke – To cut up to 2,000 jobs soon
Coca-Cola Co (KO.N) plans to cut 1,000-2,000 jobs globally in the coming weeks, the Wall Street Journal reported, citing people familiar with the matter. The job cuts are part of Coke’s $3 billion cost-cutting program, which it announced in October after posting a 14 percent drop in third-quarter profit, according to the Journal. Job-cut notices … Continue reading
Halliburton – To cut 1,000 jobs
One of the largest oil service companies in the world scaled-back its workforce recently as prices remain stymied. Halliburton Co. announced it would cut 1,000 jobs amid falling oil prices. The layoffs will take place in Europe, Asia, Africa, the Middle East and Australia. No jobs in the Americas would be affected by the cuts. … Continue reading
NYT cutting more than 100 newsroom jobs
With the holidays around the corner, New York Times publisher Arthur Sulzberger Jr. will start handing out pink slips to 21 Newspaper Guild members on Tuesday. The cuts come after the company fell short of its goal of cutting 100 newsroom jobs through from a combination of voluntary buyouts. With the just announced layoffs, the … Continue reading
Mining – Anglo American to cut about 60,000 jobs by 2017
Global miner Anglo American said on Tuesday it aimed to slim down its workforce and warned of a delay in reaching a key return on capital target due to weaker metal prices, putting its long-term revamp strategy in doubt.The company said by 2017 a programme of divestments and productivity improvements would leave it with around … Continue reading
BP – Thousands of job cuts to come
BP will cut thousands of jobs cut across its global oil and gas business by the end of next year in a $1 billion restructuring programme announced on Wednesday following steep falls in oil prices. The British oil major said it was also considering deeper cuts to its 2015 budget beyond the $1-$2 billion reduction … Continue reading
GlaxoSmithKline (GSK) – To cut 900 research and sales jobs
GlaxoSmithKline (GSK.L) is to shed hundreds of U.S. commercial and research jobs, restructuring operations in its biggest market where drug sales are flagging. A total of 900 posts will be eliminated at GSK’s Research Triangle Park site in North Carolina as drug research is consolidated in Philadelphia and in Stevenage, near London, according to a … Continue reading
Toyota in Australia – To cut 2,600 jobs
Japanese auto major Toyota Motor Corp. (TM: Quote) Wednesday said its production and sales subsidiary in Australia, Toyota Motor Corp. Australia Ltd. or TMCA, would consolidate its corporate functions in Melbourne, that will lead to closure of operations in Sydney. Toyota Motor noted that TMCA’s new business structure will be from 2018 onward. According to … Continue reading
Hewlett-Packard (HP) – More layoffs to come
HP has laid off 41,000 people (with about 9,000 people left to go) under its current downsizing plan for 2014. On Tuesday, the company hinted that more layoffs could be coming with its plans to separate itself into two huge companies. During its quarterly conference call, Wall Street analysts asked for details about HP’s plans … Continue reading
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