LayoffBlog.com

February 11, 2009

Nokia to cut 320 jobs, temporarily lay off 2,500

According to BusinessWeek: “Nokia Corp. said Wednesday it will close the research and development center in Jyvaskyla, southern Finland by the year-end, all 320 people working there will be affected.”

“The Finnish company is also planning to temporarily lay off some 2,500 workers at a plant in Salo, on the southern coast, although production there will continue.”

January 8, 2009

Germany’s Job Creation Machine Sputters

SpiegelOnLine reports: “According to a report released on Wednesday by the Federal Labor Agency, which tracks German unemployment statistics, the number of jobless rose by 114,000 in December, bringing the total to 3.102 million or 7.4 percent.”

“On average, the total number of unemployed last year was 508,000 lower than in 2007. Analysts, though, anticipate that 2009 will see increased job losses in Germany.”

December 2, 2008

HSBC, Credit Suisse to cut 1,150 jobs

Press Trust of India / UK, London: “Amid the ongoing economic crisis, the banking sector continues to be hit by mass layoffs with financial service major Credit Suisse and HSBC announcing additional 1,150 job cuts, a media report says.

According to the Financial Times, Credit Suisse will be trimming its workforce by 10 per cent leading to job loss for 650 employees, while HSBC said it was slashing 500 jobs.
Credit Suisse has been impacted by the loan writedowns, which has led to two quarters of losses for Switzerland’s second-largest bank this year, the report said.
A majority of the jobs at Credit Suisse would be cut in the investment banking and the support functions segment.”

“Earlier, HSBC said that it would cut 500 jobs in Asia as part of a shake-up of its global banking and markets division.

Besides, Citigroup had also announced it was shedding 52,000 staff worldwide, while Royal Bank of Scotland plans to cut about 3,000 jobs in its investment banking division.”

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