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April 16, 2009

Harley-Davidson announces more job cuts

Harley-Davidson plans to cut another 300 to 400 hourly production jobs over the next two years, the company announced Thursday morning when it released first-quarter earnings that show a decrease in revenue and net income.

The cuts are in addition to the 800 production layoffs the company announced last April. The first round of trimming called for the loss of 300 production positions at Harley’s production facility in Springettsbury Township.

Source: Trading Markets

Solution to Japan’s Jobless Problem: Send City Workers Back to the Land

Filed under: Japan — 7macaw @ 6:43 am
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As the global financial crisis sinks Japan into its worst recession since World War II and hundreds of thousands of jobs are slashed in factories and offices, farming has emerged as a promising new career track.

Seeing agriculture as one of the few industries that could generate jobs right now, the government has earmarked $10 million to send 900 people to job-training programs in farming, forestry and fishing.

Policy makers are hoping newly unemployed young people will help revive Japan’s dwindling farming population, where two in three full-time farmers are 65 or older. Of Japan’s total population, 6% work in agriculture, most doing so only part time, down from about 20% three decades ago.

Source: The Wall Street Journal

If your job moves to India, follow it

Filed under: IBM,India — 7macaw @ 6:37 am
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IBM’s Project Match, would allow laid-off US and Canadian workers to apply for IBM jobs in India and other low-cost countries and would help them with visas and moving costs.

If hired by IBM in a foreign country, employees would work under that country’s terms and conditions, which would mean they would earn a much lower wage than in the United States.

Source: EDN.com

April 15, 2009

Unemployed seek training for ‘green collar’ jobs

With unemployment increasing, community colleges across the country report a surge of unemployed workers enrolling in courses that can train them for “green-collar” jobs.

Students can learn how to install solar panels, repair wind turbines, produce biofuels and do other work related to renewable energy. In order to keep up with the increasing demand, two-year colleges are launching or expanding green job training with money from the federal stimulus package.

Source: AP

Reports: Yahoo plans more job cuts

Yahoo is planning a new round of layoffs, the first since Carol Bartz became chief executive in January, according to several people with knowledge of the situation.

The layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports first-quarter financial results, said these people, who agreed to speak on condition of anonymity because the plan is confidential.

Source: The New York Times

UW to eliminate about 1,000 jobs by May 1

The University of Washington will eliminate about 1,000 employee positions — including a yet-to-be-determined number of layoffs — by the beginning of May, the school’s president said Tuesday.

The latest estimate is up from the 600 to 800 job cuts UW officials warned about in February, after Gov. Chris Gregoire released her own budget proposal.

~News submitted by P.S.

Source: Seattle PI

April 14, 2009

Obama warns there will be “more job loss, more foreclosures and more pain”

Filed under: economy,Obama — 7macaw @ 8:20 am
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President Obama today sought to temper recent optimism about an economic recovery, warning that the “hard times” will not end this year and there will be “more job loss, more foreclosures and more pain” before the recession ends.

While warning of future economic hardship, Obama also touted the encouraging signs in the economy as springing from the “extraordinary action” of his administration, including the $787-billion economic stimulus legislation, that he said have helped spur consumer demand and restore the flow of credit vital to businesses.

Source: LA Times

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

April 13, 2009

IBM set to axe thousands in move to cheap labour abroad

IBM is planning to axe thousands of jobs in Britain, Germany and Ireland as part of a broader move to shift much of its workforce to cheaper outlets in eastern Europe, China, India and South America, the Observer has learned.

IBM workers in India earn an average $5,000 a year, compared with between $50,000 and $80,000 for a similar job in the US.

The expected European job cuts come on top of 5,000 recent layoffs at IBM in America. The US cuts brought the total number of redundancies on IBM’s home turf to around 9,600 for the first three months of the year.

Source: Guardian

UBS to announce more job cuts soon

Filed under: banking,worldwide — 7macaw @ 8:01 am
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Swiss bank UBS will announce more job cuts soon, with staff in Switzerland and departments like marketing to be hit hard, newspapers reported on Sunday.

Citing several unnamed sources, the Sonntagszeitung newspaper said managers had already started telling their staff about job losses, with departments like marketing and support functions hardest hit.

Source: Reuters

April 7, 2009

NC employed, unemployed may both face no insurance

North Carolina’s unemployment rate reached 9.7 percent in January and it is likely to keep climbing for the rest of this year, which means the employer-subsidized health insurance coverage is going to be cut for tens of thousands of workers.

But thousands more who still work may lose their insurance anyway as small businesses have to choose between offering health care or laying off employees. Other workers may see deductibles rise so high they’ll only be able to use their insurance for catastrophic emergencies.

~News submitted by upthecreek

Source: CNBC

Some companies avoid layoffs, trim costs elsewhere

Filed under: FYI — 7macaw @ 11:51 am
Tags: ,

Even as the recession cuts deeply into their revenue, some companies are opting to do the unconventional. They’re keeping all their employees and finding other ways to trim costs.

For example, profits at Costco Wholesale Corp. are down 27 percent from a year ago, but the discount store has not laid anyone off. The only workers let go have been holiday seasonal hires.

Economists say it’s a wise move for some companies to keep their workers and cut elsewhere. “If you overshoot on the downside and lay off workers, it puts the company at a disadvantage when the economy comes back to life,” said Sean Snaith, economics professor at the University of Central Florida.

~News submitted by upthecreek

Source: The Salt Lake Tribune

American Medical Association Announces 100 Layoffs

The American Medical Association is laying off about 100 workers, or 8 percent of its staff, to “offset declining revenues amid the ongoing economic downturn,” the Chicago-based national doctors group said this afternoon.

The staff cuts at the nation’s largest doctor group will trim “open and existing staff positions” at both its Chicago headquarters and Washington offices effective May 4, the AMA said. The AMA has about 1,200 staffers.

Source: Chicago Tribune

Royal Bank of Scotland Plans Up to 9,000 Job Cuts

The Royal Bank of Scotland said on Tuesday it might cut as many as 9,000 jobs worldwide as the troubled British bank, which is majority-owned by the government, seeks to reduce costs and repay government funds.

The job cuts would affect back office operations and would come in addition to the 2,700 already announced in Britain for this year. The bank said the actual number of layoffs would be lower than 9,000 because “natural turnover” and “less use of agency staff” would further help to limit redundancies. In addition, the bank said it already identified 650 new job opportunities in Britain.

Source: The New York Times

CEOs expect more job cuts through year end

Nearly three-quarters of CEOs in the Business Roundtable expect to cut workers in the next six months as sales sag, a survey showed Tuesday, suggesting further deterioration in the job market is likely at least through the end of the year.

Seventy-one percent of CEOs said they expect to cut workers in the next six months, up from 60% from November, when the quarterly survey was last conducted, and the most since the survey began at the end of 2002, the Business Roundtable said. Twenty-one percent expect to keep payrolls unchanged, while 7% said they plan to add workers.

Source: USA Today

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