Job Market Monitor
Layoffs
North-East UK | 450 jobs go
MORE than 450 North-East workers were facing redundancy last night after another grim day for the regional economy. Two of the North-East’s major employers announced the bad news as an international think-tank said the spectre of a UK double-dip recession was now a reality. About 350 jobs are at risk at the Kerry Foods processing … Continue reading
Germany | Schlecker | 12,000 jobs lost
Nearly 12,000 employees of a struggling German drugstore chain faced an uncertain future on Thursday after a rescue package was blocked by the Free Democrats. The junior partner in Chancellor Angela Merkel’s coalition government opposed a 70-million-euro loan guarantee. The package would have backed a retraining and job placement scheme for Schlecker employees. Katja Deuser, … Continue reading
VG247 | GAME stores shuttered, 2,104 jobs cut
MCV has a full list of the 277 GAME and Gamestation stores closed during the first day of administration by PWC. While the firm said earlier that it believes there is still room for a high street specialist chain, it made significant closures across the UK and Ireland; up to 300 outlets are expected to … Continue reading
Nokia | 1,000 job cuts in Finland – Reuters
Nokia (NOK1V.HE) finished on Thursday job cut talks with the staff at its plant in Salo, Finland, resulting in planned lay-offs of up to 1,000 people. The jobs at the last large cellphone manufacturing plant in Western Europe will be cut gradually through 2012, with most cuts happening by the end of June, the company … Continue reading
UK | 1,800 jobs cut under MoD reforms – The Guardian
In a written statement to Parliament, defence personnel minister Andrew Robathan said he regretted the uncertainty and anxiety caused to staff involved but said the Government “can and will” make changes in guarding and civil policing. Under the measures, the MoD Police is to downsize from a current strength of just under 3,100 to about … Continue reading
Exar Cutting More Than 30% of Jobs
The chipmaker Exar this morning said it has expanded its cost reduction program, cutting about 120 jobs, or about 30% of worldwide headcount. The move is intended to save about $12 million a year, about 30% of that in operations and 70% in R&D and SG&A. The cuts follow a previous round of cuts in … Continue reading
Balfour Beatty | 12,000 jobs at risk
Britain’s biggest construction company Balfour Beatty (BALF.L: Quote) has warned all its 12,000 staff in the UK that their jobs are at risk, the construction industry magazine Building reported on Wednesday. Read More @ Balfour Beatty warns 12,000 jobs at risk: report | Business | Reuters.
Daio Paper Corp. to cut 900 jobs
Daio Paper Corp. will cut 900 jobs within three years by not replacing retiring workers, it said in a statement. Daio expects the job cuts to lead to about 5.5 billion yen of savings annually. The stock slipped 1.2 percent to 498 yen. via Ashok, Cheung Kong, Hankyu, Nippon, Suzlon: Asia Stock Preview – Bloomberg.
Rogers to cut 300 jobs as BCE-Astral deal likely to spur job cuts
Rogers Communications plans to cut 300 jobs across Canada, according to MediaCaster magazine. The layoffs will be spread out across the company’s various divisions, which include cable, telecom and Internet services, TV and radio stations and magazines. Read More @ Rogers plans to cut 300 jobs | Money | Toronto Sun. _______________________________________________________________ BCE-Astral deal likely to … Continue reading
Best Buy | Large Stores Closing and Layoffs to Come
Best Buy Co.reported weaker-than-expected quarterly sales and said it would close 50 large U.S. stores and lay off another 400 employees, disappointing investors looking for even deeper cuts to turn around the world’s largest consumer electronics chain… Read More @ Best Buy to close stores, cut jobs on 4Q weakness – South Florida Sun-Sentinel.com.
U.S. | Job Market Improving | Quits increase and the number of unemployed per job opening falls
“Quits tend to rise when there is a perception that jobs are available and tend to fall when there is a perception that jobs are scarce” writes BLS. The good news, they are rising. Moreover, the number of unemployed persons per job opening is decreasing. The number of quits has exceeded the number of layoffs and discharges … Continue reading
Rio Tinto | 300 workers lose job at metal plant
The Press Association – More than 300 jobs are to be lost after mining giant Rio Tinto Alcan confirmed it will shut an aluminium smelting plant later this month. The site at Lynemouth, Northumberland opened in 1972 and employs 515 staff, alongside 111 staff who work at a power station 200 metres away. Confirming closure plans first … Continue reading
Hasbro | 170 jobs lost, mostly in U.S. and Canada
Reuters – Hasbro Inc (HAS.O) is cutting about 170 jobs as the second-largest U.S. toy company tries to recover from sluggish sales during the holiday season. Most of the jobs are in the United States and Canada, company spokesman Wayne Charness said, including “about 55” in Rhode Island where it is based. “These moves were … Continue reading
GM | Job losses to come from its European business
The Guardian – GM would stick to a labour deal that limits factory closures before 2014, Girsky indicated nonetheless that there would be job losses from its European business. “We know in the future that there may not be the same amount of people here as there are today. It is important that we create … Continue reading
Royal Bank of Scotland | Cuts 215 U.K. Jobs
Bloomberg: Royal Bank of Scotland Group Plc, Britain’s largest government-controlled lender, said it was cutting 215 U.K. jobs and moving the posts overseas. The cuts will fall on support staff at the bank’s finance division, mainly in Edinburgh and London, a spokesman said. The reductions are in addition to the 6,800 job losses announced since … Continue reading
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