Financial
Lloyds Banking Group chop another 700 jobs.
The trade union Accord has announced this morning that 700 jobs are set to go at Lloyds Banking Group’s offices in Aylesbury, Buckinghamshire.
Since its merger with HBOS last autumn, Lloyds has axed thousands of jobs due to overlap within the megabank.
The news comes just two weeks after the banking giant, which is 43% owned by the taxpayer, announced it would axe 5000 jobs by the end of 2010 – these were in addition to the 10000 already axed this year.
Source: Kay Murchie of Financial Markets
Total losses = 700
Grand Total 2009 = 15000
Related Web Links:
- Lloyds Group to sack another 1200 people. (July 16th 2009)
- Lloyds Group to fire another 2100 employees. (June 30th 2009)
- Lloyds Group to cull a further 240 offshore banking jobs. (June 24th 2009)
- Lloyds Banking Group will cut 625 jobs in Britain, according to Reuters. (May 26th 2009)
- Lloyds TSB to axe 625 bank staff. (May 19th 2009)
- Lloyds Banking Group cutting 985 jobs. (April 23rd 2009)
Is it me or are there less job losses?
For those who visit regularly you may have noticed that we are not updating or creating posts everyday. This is mainly because there do not seem to be as many companies laying off people such as they were 6 months ago.
Source: Layoff Tracker
Whyte & Mackay cuts 85 jobs
State of Pennsylvania layoffs 250 employees
Engineering firm CHA layoffs 57 employees cuts salary
German utility company E.ON plans to cut 2000 jobs
Artex Aircraft Supply layoffs 113 workers
RM International layoffs 109 workers
Crow Tribe layoffs 200 employees
Ulster Bank cuts 250 jobs
Ballard Power cuts 85 jobs
Terex Corporation cuts 170 jobs
Trinity Marine Products layoffs 235 employees
Korea’s Ssangyong Motor finalizes 2600 layoffs
VSP cuts 43 jobs
Miami Herald Media Company cuts 34 jobs
Total losses = 6231
No slow down in the culling of jobs.
Source: Layoff Tracker
Taylor Bean & Whitaker shuts down, 5000 jobs at stake.
Alcoholic drinks manufacturer Altia furloughs 650 (all) employees.
Neste Oil announces 450 layoffs.
University of Iowa Hospitals and Clinics cuts 285 jobs.
Katana Summit layoffs 70 workers.
Kindred Healthcare layoffs 573 employees in Florida.
Bobcat Company plans to layoff 100 workers.
Analogic Corp layoffs 85 workers.
Insurance giant Axa Life plans to cut 350 jobs.
IBM Global Business Services Division cuts 200 jobs.
Celanese Corp plans to layoff 100 workers.
GKN Plc to cut 1100 jobs in 12 months.
Milwaukee Journal Sentinel cuts 92 jobs.
Seagate layoffs 2000 workers in Singapore.
PNC Financial Services cuts 74 jobs in Miami.
Mohawk Industries cuts 400 jobs in Georgia.
Patriot Coal to layoff 314 workers.
Ticona Polymers to layoff 100 workers in Cleveland .
KV Pharmaceutical layoffs 300 workers .
Virginia International Terminals layoffs 90 employees.
Rainbows United layoffs 70 employees.
Total losses = 12313
Lloyds Group to sack another 1200 people.
Lloyds TSB is to cut a further 1200 jobs bringing the total to nearly 8500 this year. The latest job cuts are in group operations and insurance divisions.
Total losses = 1200
Related Web Links:
Lloyds Group to fire another 2100 employees.
Lloyds Group to cull a further 240 offshore banking jobs.
Lloyds TSB to axe 625 bank staff.
Lloyds Banking Group cutting 985 jobs.
Lloyds Group to fire another 2100 employees.
They have slashed almost 5000 jobs so far this year, but that didn’t stop management announcing another 2100 employees to go in the nex three years bring the total to over 7100.
Total losses = 2100
Lloyds Group to cull a further 240 offshore banking jobs.
182 Lloyds posts are going to be lost from operations in Jersey, with the rest of the staff affected in the Isle of Man and Guernsey.
Total losses = 182
4655 jobs gone in 24 hours.
Washington State University layoffs 360 full-time jobs and three academic programs to reduce its budget by $54 million, or more than 10%, over the next two years.
Irish low-cost Ryanair cuts 650 jobs in Ireland, blaming the move on government hikes in taxes amid a deep recession in the eurozone member nation.
Penske Logistics to cut 100 jobs.
Delphi closes Vandalia plant, cuts 116 jobs.
Norske Skog plans to cut 600 jobs.
Bank of America layoffs 81 in Tampa.
University Hospitals in Iowa will layoff 130 employees.
Dean Foods closes PET Dairy operations, cuts 120 jobs.
Lockheed Martin cuts 750 jobs.
Jostens layoffs 185 employees.
Michelin to cut 2800 jobs in France through early retirement and voluntary redundancies in the next three years, sparking concern from the government.
Evonik Cyro layoffs 35 workers.
The slowdown in spending is still finding new victims – most recently MySpace. The social networking giant currently owned by media conglomerate News Corp. will be losing around 30% of its US workforce over the next few weeks, which aquates to about 400 employees.
Total losses in the past 24 hours = 4655
1 week 55 companies lay off 20000+ people.
Girtz Industries to layoff 60 in Indiana.
Boston Redevelopment Authority to cut 30 job.
Watson Pharmaceuticals cuts 275 jobs.
Vacumet Corp layoffs 39 employees.
Volunteer Fabricators cuts 145 jobs.
Lockheed Martin to cut 535 jobs in San Jose.
CUNA Mutual Group cuts 52 jobs.
Guardian Life Insurance layoffs 39.
Premier Elkhorn Coal Company cuts 100 jobs.
United Methodists eliminates 50 minutes.
Transcontinental layoffs 250 workers.
General Motors cuts 38 Missouri dealers, 66 Illinois, 887 workers in Wentzville.
Symmetricom layoffs 30.
Frontier Financial Corp cuts 45 jobs.
Cessna to cut 1300 more jobs.
American Airlines cuts 1600 jobs.
UTStarcom cuts 2300 jobs worldwide.
Carlson Craft layoffs 114.
Shaw Group to cut 168 jobs by August.
Zimmer Holdings layoffs 100 in Warsaw.
H&H Foodservice Inc cuts 90 jobs.
Reynolds Packaging layoffs 158 employees.
Indevus Pharmaceuticals cuts 60 jobs.
Heifer International plans to layoff 20% of workforce.
Design Craftsmen layoffs entire workforce.
Cadence Design Systems cuts 225 jobs.
Meridian Automotive Systems cuts 200 jobs in India.
Ixia layoffs 10% of workforce.
Metalcraft closes Mayville facility, 121 jobs lost.
Quantum Engineering layoffs 88.
Crystal Dynamics cuts 25 jobs.
Keystone Findings closes Telford operations, 46 jobs.
Bass Berry & Sims layoffs 32 employees.
Ford Motors layoffs 350 workers at Louisville Plan.
Baxter Healthcare layoffs 65.
Advanced Steel layoffs 91 employees.
MeadWestvaco cuts 65 jobs in Wisconsin.
Lloyds Bank cuts 1660 jobs.
Ericsson layoffs 167 workers.
Capital Group layoffs 94 in San Antonio.
McAvoy Group layoffs 35, as the companies struggles with a slump in orders.
LM Glasfiber layoffs 80 workers.
Orgill Inc cuts 176 jobs.
Electrolux cuts 150 jobs.
Dassault Falcon layoffs 111 employees.
Suzlon might layoff 90 employees.
Lehigh Phoenix layoffs 54 employees. Lehigh Phoenix is the principal provider of cover components, overhead transparencies and juvenile book production for the publishing industry in the United States.
Intuit cuts 4% of workforce.
Georgia Gulf Corp cuts 100 jobs.
Newport Television cuts around 120 jobs.
Columbia Falls Aluminum closes plant, 90 jobs lost.
Nortech Systems layoffs 57 in Iowa. Nortech makes electronics equipment such as printed circuit-board assemblies, for three primary markets: aerospace/defense, medical and industrial.
One Communications Corp layoffs 60 in Rochester.
American Express to cut 4000 jobs this year. The credit card and travel services company, plans to eliminate 4000 jobs, or 6 percent of its workforce, as the weakened economy causes higher customer defaults.
Total losses = +- 20000
All C&G branches closed by Lloyds with a loss of 1660 jobs.
Lloyds Banking Group are continueing to let go hundreds of people. Today they announced they would close all 164 Cheltenham & Gloucester branche by the end of the year, which will cost 1660 people their jobs.
They are also planning to drop Bank of Scotland and Intelligent Finance as mortgage brands, which will result in 159 job losses.
The Klaus Kneale Pink-Slip List (P-SL) for May 2009.
The following Pink-Slip List (P-SL) was compiled by Klaus Kneale.
Job Losses = 23704
May 30: Deere & Co lays off 89 in North Dakota and 16 in Louisiana as part of ongoing reductions.
May 29: Cintas projects worse than expected fourth quarter results and lays off 650 workers.
May 22: Monsanto lays off 55 in Mississippi as part of manufacturing facilities consolidation.
May 21: UPS’s airlines arm cuts 80 mechanics on slump in shipping volume.
May 19: Hewlett-Packard announces 17% decline in quarterly profit and reduces workforce by 2% (6400 workers).
May 19: Medtronic cuts executive pay by 5%, freezes salaries and slashes upwards of 1800 jobs.
May 18: American Express reduces global workforce by 6% (4000 jobs) adding to a 7000 employee cut announced last October.
May 15: Following review of operations announced in February, Nike cuts 1750 jobs (5% of total workforce).
May 15: Fruit of the Looma Berkshire Hathaway. A subsidiary pink-slips 80 in Alabama.
May 12: Applied Materials posts quarterly loss and increases previously announced job cuts by 300.
May 11: Dell slashes 260 jobs in North Carolina and blames the economy.
May 7: Cummins Indiana plant that supplies Chrysler and lays off 610 workers.
May 7: DuPont to December job cut of 2500 with another 2000 employee cut.
May 6: Wells Fargo freezes pension plans and fires 548 in North Carolina.
May 5: Microsoft pink-slips a second 5000 employees following its initial January layoff.
May 5: Allstate closes claims office in Florida and lays off 66 employees.
Plenty of crunch victims as May comes to an end.
The following list was sourced from Layoff Tracker. Just some of the companies laying off people in the past two days.
- AG cuts 16% of work force.
- Arctic Cat layoffs 60.
- Young Touchstone layoffs 140.
- HP to layoff 850 in Scotland.
- Gevity layoffs 50 including CEO CFO & CIO.
- Allstate Insurance cuts 55 jobs.
- Cookson Group cuts 21% of workforce.
- Sovereign Bank layoffs 81 in Rocky Hill.
- Catalyst Paper layoffs 100.
- Harris Bankcorp layoffs 60 managers.
- Saint Joseph Mercy Health System plans to cut 350 jobs.
- Gulfstream Aerospace cuts 25% of work force.
- Rosemount Inc layoffs 80.
- Metabasis cuts 35 jobs in Michigan.
- Metlife has laid off 1000 till now.
- Usiminas cuts 1300 jobs.
- Herbert Smith layoffs 84 in London.
- ABB cuts 540 jobs in France.
- Siemens cuts 1000 jobs.
Bank of Montreal to shed 1100 jobs after Q2 profit plunge.
Bank of Montreal is eliminating more than 1000 jobs after a 44 percent drop in quarterly net income to 358 million Canadian dollars ($320 million).
Tjob cuts will occur across the company are expected to hit about 3 percent of BMO’s 36900-person workforce, primarily in managerial positions.
Job losses = 1100
The banking world crunch victims of May 2009.
For the banking and investment world its has been another grim month in the layoff / retrenchment department. Below you will find all the companies that have sacked employees for various reasons and the sources of the information. The latest news is at the top.
- Capital One is laying off 180 employees in Baton Rouge, La. Pink slips will start being doled out in July through November, according to WBRZ News, a TV news channel in Louisiana.
- J.P Morgan Chase has rescinded 40 or 50 overseas positions from college graduates due to TARP restrictions, according to a Financial Times report on the bank’s annual shareholder meeting.
- Lloyds Banking Group will cut 625 jobs in Britain, according to Reuters.
- ABN Amro and Fortis Bank could lay off 5000 employees by 2012 as the two businesses merge, according to Bloomberg.
- Julius Baer plans to split its private banking and asset management arms into two independently listed companies, but the Financial Times also reports that the company could eventually dispose of its fund management businesses.
- American Express said Monday it is eliminating about 4000 jobs, according to a company press release.
- Genworth Financial laid off 630 people in Virginia, according to the Richmond Times-Dispatch. These layoffs were concluded in January, according to a Genworth spokesperson.
- Deutsche Bank has cut three products from the Australian market.
- BT Investment Management has shut down its Global Return Fund.
- Alpha Investment Management shut down, according to OnRec.com.
- Sovereign laid off 9% of its workforce, according to the Providence Business Journal.
- BlackRock is apparently doing a round of layoffs this summer, according to Dealbreaker.
- Apparently there are investment bankers being laid off at J.P. Morgan, according to Dealbreaker.
- Principal Financial announced it will eliminate 40 more positions in Des Moines, Iowa, according to WHO-TV, an NBC news affiliate based in Des Moines.
- The Golden 1 Credit Union cut 25 positions in Sacramento, Calif., according to the Sacramento Business Journal.
- MetLife has shed 1000 jobs, according to Providence Business News.
- Hunton & Williams laid off 23 associates and counsel and also trimmed 64 staff members, according to AM Law Daily.
- MassMutual may cut more staff in the next four months, according to The Republican.
- ING has already laid off 5380 of 7000 employees the company intends to cut. The company will also sell 15 operations to raise capital, which could mean more layoffs, according to the Des Moines Register.
- Barclays may lay off 700 staffers in its information technology department, according to The Register.
- AIG’s American General Financial Services will be handing out pink slips to 140 workers in Evansville, Ind., by the end of the week, according to WTVW Fox 7.
- American Express is closing a travel operation in High Point, N.C., where 103 employees worked, according to WRAL CBS 5.
- Lititz, Pa.-based Susquehanna Bancshares Inc. will shut down six York County Pennsylvania locations. Many employees will be transferred to neighboring branches, but some could be laid off, according to Istockanalyst.
- Principal Financial laid off 75 employees in April, according to Forbes.
- Rumors are building that Royal Bank of Scotland Group plc might sell Citizens Bank after it posted a quarterly loss of about $1.29 billion. RBS has been going through some intensive restructuring. The bank is cutting 1250 employees from Citizens Bank. The jobs cuts are mostly in back-office operations, according to TribLive.
- CIBC announced more than 100 layoffs this month, according to Canada.com.
- Canaccord Capital Inc. is laying off 75 underperforming brokers, according to The Wall Street Journal.
- Evansville, Ind.-based American General Finance, a subsidiary of AIG, plans to cut 500 jobs and close 150 offices throughout the country, according to the Evansville Courier & Press.
- Australia’s Westpac Banking asked 5000 employees to take 10 to 15 days unpaid leave, saying layoffs would be a last resort. The bank laid off 170 people earlier this year, according to ABC local radio.
- Student loan company Nelnet Inc. will layoff about 250 employees in order to close its local operations by the second quarter 2010, according to The Jacksonville Business Journal.
- Capital One is eliminating 66 jobs in its U.S. credit card customer operations at its offices in Goochland County, Va., according to The Richmond Times-Dispatch.
- Officials with National City said some workers have been told that they will soon be out of a job. An exact number was not provided. It is estimated that 5800 workers will lose their jobs as PNC and National City merge operations, according to WHIOTV.com.
- J.P. Morgan is closing its centralized check-processing operations in Miami and laying off 55 employees, effective July 2, according to the South Florida Business Journal.
- Wells Fargo told state officials this week that the company has laid off 548 employees in uptown Charlotte, N.C., this year, according to Trading Markets. Around 150 layoffs were in the investment banking unit.
- Guaranty Bank plans to close its GB Mortgage LLC division, leaving 62 employees without jobs, according to The Business Journal of Milwaukee.
- GE Money, a division of General Electric Co. will lay off 250 customer service workers in Tampa, Fla. GE Money, which provides private-label credit cards to retailers, will lay off all the workers there by June 29, according to Layoff Tracker.
- Principal Financial announced it cut 75 workers in its asset management business in Des Moines, Iowa. This is the second round of cuts for Principal. In December 550 jobs were cut, according to the Chicago Tribune.
- IndyMac, which was taken over last summer by the FDIC and reopened as IndyMac Federal Bank, is laying off 107 employees at IndyMac Resources Inc. in Irvine, Calif. Those employees will receive notice by May 19, according to Layoff Tracker.
- Banco Santander SA’s U.S. unit, Sovereign Bancorp, which is expected to cut 950 jobs across the country, will lay off 265 employees in Massachusetts, according to the Boston Herald. The bank also plans to eliminate 124 jobs in New Jersey, according to APP.com; 32 in Rhode Island, according to projo.com; and 24 in Staten Island, according to silive.com.
- Wells Fargo is eliminating about 100 positions in the northeast Florida mortgage operations of the former Wachovia Corp., according to the San Francisco Business Times.
- Canadian mortgage financier Quest Capital Corp. said it plans to cut jobs to reduce overhead costs, according to Reuters.
- Lloyds Banking Group is trimming 305 jobs as it merges Clerical Medical sales forces with Scottish Widows life insurance businesses. Also, last week Lloyds said 985 full- and part-time posts from its motor finance business would be axed over the next two years, according to the Financial Times.
- Commerzbank’s real estate financing unit Eurohypo will axe around 300 jobs in Germany and overseas, according to Reuters.
- Cigna may make more reductions than the 1100 jobs the company said it would cut in January. The size of the new cuts won’t be disclosed until second-quarter earnings, according to the Hartford Courant.
- First National Credit Card Center, a subsidiary of First National Bank of Omaha, is closing two offices in Atlanta that employ 215 people, according to The Atlanta Journal-Constitution.
Total Estimated Losses = 32596
Crunch Victims weekly watchlist.
Below are a list of companies on the brink of announcing job cuts or lay offs. If this news becomes true, I will update the posts accordingly.
- Satyam Computers might layoff 10000.
- Filene’s might layoff 1500 workers.
- American Express will retrench a small number of people from its Singapore office as part of the group’s global retrenchment exercise.
- Retailer Clinton Cards has put its subsidiary chain of 223 Birthdays stores into administration, putting more than 2000 jobs at risk.
Total explected job losses = 13500
RBS to sack 700 people in Edinburgh and London.
Royal Bank of Scotland has confirmed that 700 jobs are to go across two of its departments, with Edinburgh and London set to be hardest hit by the cuts.
Total losses = 700 (for now, more to follow)
