April 14, 2009

Qantas Forecasts Record Second-Half Loss, Plans 1,750 Job Cuts

Qantas Airways Ltd., Australia’s largest carrier, forecast a record second-half loss and will cut 1,750 jobs as demand for business and first-class travel plunges on the global recession.

The job cuts, equivalent to about 5 percent of the workforce, are the deepest since Chief Executive Officer Alan Joyce took over five months ago. Qantas became the latest carrier to defer delivery of the Airbus SAS A380, the world’s largest commercial plane, amid the recession and a drop in premium travel since the collapse of Lehman Brothers Holdings Inc. last year.

Source: Bloomberg

March 30, 2009

Commonwealth Bank’s BankWest to cut 400 jobs in Australia

Australian mortgage services provider Commonwealth Bank of Australia late Sunday announced that it would cut 400 jobs at its wholly-owned subsidiary Bank of Western Australia Ltd or Bankwest across Australia. The bank cited the deteriorating national and Western Australian economies as well as a high cost base as the reason for implementing these job cuts.

According to Bankwest, around 250 back-office support roles on the west coast and 150 on the east coast will be made redundant this year.

Source: RTTNews

March 25, 2009

Australia’s Qantas to cut 90 senior jobs

Qantas Airways Ltd, Australia’s top airline, moved to rein in costs with another round of job cuts, this time targeting its senior management team, to help it ride out the global financial crisis.

Qantas will shed 90 top management positions adding to 1,500 job cuts announced last year, it said on Wednesday.

The airline said in a statement it would a maintain a salary freeze and make a number of role changes for remaining managers.

Source: Reuters

January 21, 2009

BHP Billiton to lay off 6,100

Filed under: Australia,mining,worldwide — 7macaw @ 8:09 am
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BHP Billiton – the world’s largest mining company – said Wednesday that it will cut about 6 percent of its workforce, and close its giant Ravensthorpe nickel mine in Australia, joining smaller rivals in downsizing to combat sinking prices of metals.

BHP said it would cut about 6,100 jobs in total. Besides about 2,100 jobs cuts in Australian nickel mining another 4,000 jobs out of the 101,000 strong global workforce will go, the miner’s chief financial officer, Alex Vanselow, said.

Source: International Herald Tribune

January 15, 2009

Australia’s unemployment rate hits 4.5%

Australia’s unemployment rate hit 4.5 per cent in December, with nearly 44,000 full time jobs lost over the month.

However part time employment rose 42,800 over the month, meaning total employment fell by 1200.

Australia and New Zealand Banking Group economist Riki Polygenis said the small fall in unemployment was less than the expected 20,000 drop, but the changing make-up of the labor force was a worry.


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