Retail
Just another manic Monday.
If losing 3500 jobs from Corus was bad enough the following companies also announced job losses:
- Adams let go 267 people. They went into administration last year.
- Barrett & Priceless the shoe chains look like they are in big trouble. They employ over 5400 people. They have called in one of the big four administrators (Deloitte’s), that in itself is a big clue.
Over in the USAÂ a total of 48000 jobs were lost today, a lot of them from big named companies:
- Caterpillar, the world’s largest heavy equipment maker announced Monday it was slashing up to 5000 jobs.
- Pfizer announced cost cuts that will include slashing about 8000 jobs.
- Sprint Nextel said it would be eliminated about 8000 positions in the first quarter as it seeks to cut annual costs by $1.2 billion.
- Home Depot said it would reduce about two percent of its associates, or about 7000 jobs.
- General Motors slashes 20000 jobs at plants in Michigan and Ohio as the recession slams sales of its vehicles.
In Europe:
- Dutch banking and insurance group ING announced 7000 job cuts.
- Philips, Europe’s largest Electronics manufacturer said it was cutting 6000 jobs globally.
Sainsbury’s tries something new today by slashing 200 jobs.
Sainsbury’s said yesterday that it would lose up to 300 jobs at its head office as it seeks to cut costs, but then they say they are going to create 5000 jobs this year. So I am slightly confused. Either they are trying to save money or they are not!
Perhaps those 200 to 300 heads are deadwood (fat cat managers, directors who are just trying something new each day).
I have an idea where they could really save money… Get rid of Jamie Oliver as their face for the people. He is such an irritating fool and I bet he is costing Sainsbury’s millions. Why would Sainsbury’s want to keep him on when his thoughts about supermarkets have showed them in such bad light.
Jamie Oliver once said,
For any chef, supermarkets are like a factory. I buy from specialist growers, organic suppliers and farmers.
Job losses: 300
Related Web Links:
Empire Direct go into administration.
Wow! the largest empire of them all has fallen. Empire Direct have appointed KPMG as they go into administration. This means 158 employees out of 350 have been made redundant.
The company is based in Leeds has recently had low stock levels and was operating a loss, which now mean the business cannot continue to trade in administration.
Job losses: 158 (so far).
Related Web Links:
German retailer Metro to cut 15000 jobs.
What is 15000 jobs when the company employees 300000 people in 32 countries around the world? Metro are disguising the redundancies by saying they have a “master plan” in making more money. (Yeah right! when they have just said “business slowed in 2008 because of the Economic Downturn.
Job losses: 15000
Related Web Links:
- Metro to Shed 15000 Jobs to Restore Earnings Growth
- The Associated Press – German retailer Metro to cut 15000 jobs
- IDG Retail Analysis UK
540 jobs to go at famous Burberry.
Hard times at Burberry. Even the CHAVS are staying away, adding to Burberry’s misery.
so 290 jobs are to be cut in the UK and the factory at Rotherham (South Yorkshire) will be closed. A further 250 jobs are to be cut in Spain, as it turns out they are doing a poor job there as well.
The job losses at Burberry are part of a programme to cut costs by £50 million across the group. In November, Burberry announced cost cutting of up to £20 million but no actual redundancies then. As well as the Yorkshire closure, an underperforming business in Spain which manufactures for that market will also be shut down.
Job losses: 540
Related Web Links:
- Burberry set for jobs cut- Business Scotsman
- Burberry Unveils Cost-Cutting Plans – Wall Street Journal
- Outrage at plans to close Burberry factory – Nafferton Today
Bad news for at least 18 companies or 21000 jobs.
Quoted from Bloomberg
Not a great Friday after news that roughly 21000 jobs would be lost for at least 20 companies.
- Hertz, the second-largest U.S. rental-car company, said it will cut more than 4000 jobs.
- WellPoint, the second-largest U.S. health insurer, will end 1500 jobs, which include 600 workers and 900 open positions.
- Clear Channel Communications Inc. will lay off 1500 employees on Jan. 20, mostly in ad sales.
- ConocoPhillips, the second-largest U.S. refiner, announced after the markets closed that it plans to cut 4 percent of its workforce, or about 1350 jobs.
- Advanced Micro, the second-largest producer of personal- computer processors, said it will eliminate 1100 jobs by the end of the first quarter.
- Amonil said it will cut 45 percent of its staff, or 389 jobs, this year.
- Magneti Marelli will eliminate 800 jobs in Brazil, or 10 percent of its workforce there.
- General Electric Co.‘s finance arm may cut 7500 to 11000 jobs, or at least 10 percent of its workforce.
- De Beers, the world’s biggest diamond company, said it will cut jobs at its six mines in South Africa, totaling “less than” 1000 people.
- Interwoven Inc., the provider of data-management software, announced after trading hours that it would cut 70 jobs.
- Blue Cross Blue Shield of Michigan will cut up to 1000 jobs in 2009.
- Renold Plc, the maker of the chains that drive the clock in London’s Big Ben, announced 350 job reductions.
- WS Atkins Plc, the U.K.’s biggest engineering-design company, plans to eliminate 210 jobs at its Middle East operations.
- Scania AB, Sweden’s second-largest maker of heavy trucks, said it won’t renew contracts for 2000 temporary employees to adjust production because of weaker demand.
- Haynes International Inc., the manufacturer of alloys for use in aerospace and chemical processing, said it will eliminate 12 percent of its global workforce.
- Varian Inc., manufacturer of scientific instruments and vacuum technologies, will shed 240 jobs.
- Banco Santander SA, Spain’s biggest bank, eliminated 400 jobs in Brazil after buying ABN Amro Holding NV’s Banco Real unit in the country.
- Harry & David Holdings, a fruit and food retailer, said it would cut more than 100 positions.
Job losses: +-21000
Original article By Oshrat Carmiel, ocarmiel1@bloomberg.net
Can anyone see the green shoots of recovery?
out of touch and insensitive
Business Minister Baroness Vadera was asked on ITV’s Lunchtime News today when she believed the UK could expect to see “green shoots”.
“I am seeing a few green shoots but it’s a little bit too early to say exactly how they’d grow.”
On the day when the following companies have announced job losses:
- Jaguar Land Rover (450 job losses)
- Barclays (2100 job losses)
- Pfizer Inc (240 job losses) -Â This is the company that make Viagra.
- Zavvi (353 job losses)
- Europa Sofabeds (175 job losses)
- Nottingham City Council (460 job losses)
McLeish Brothers go into administration.
Quoted from Tenon Press
The origins of the company stretch back more than 60 years when the McLeish family started a butcher and grocery business in Dundee. Still headquartered in the city, the business was acquired by new owners in 2007, rebranded as McLeish Brothers and launched an ambitious store opening programme across Scotland, which was to be followed by further expansion into England.
Job losses: 175
Related Web Links:
Iceland saves 2500 jobs after buying 50 Woolworths stores.
Quoted from This is London (Evening Standard)
Frozen food giant Iceland is to create 2,500 jobs after buying 51 former Woolworth’s stores, it was announced today.
The firm said the jobs would be created across the country in the coming year, in addition to its existing store opening programme.
Jobs saved: 2500
Related Links:
Porter Brothers fly the flag for the last time.
A Porter Brothers flag on Winston Churchill's coffin
The company who made the flag carried by Scott of the Antarctic to the South Pole has become the latest victim of the credit crunch and has gone bust.
At one point in it’s hey day there were over 300 people working for Porter Brothers. They also had their flags draped over the coffins of Sir Winston Churchill and Princess Diana.
Job losses: 17
Related Web Links:
Passion for Perfume goes into administration.
Quoted from Reuters
Passion for Perfume became Britain’s latest victim of the consumer downturn on Monday, appointing administrators (Deloitte) and making 194 staff redundant.
Job losses: 194
Related Web Links:
Adams Kids wings enters administration.
Quoted from Merchant News Syndication
Adams, a chain of stores who sells children’s wear, looks like they will be the most recent victim of the Economic Downturn in the United Kingdom now that they have applied for administrative appointment. The company has more than 100 stores outside of the United Kingdom, which includes 31 located in Ireland. It hasn’t been made clear yet how the outlets will be affected.
Adams, which as been founded for 75 years and has 500 stores in the United Kingdom, employing about 2,000 workers, filed an intentional notice to appoint administrators PriceWaterhouseCoopers the day before Christmas. The woes of the company came down hard on the heels of many other retailers in the United Kingdom, who have collapsed as well. The retailer also has 103 outlets throughout Europe and the Middle East.
Job losses: 3200
Related Web Links:
Officers club falls into administration.
Quoted from the Shields Gazette
A MAJOR north-east-based British menswear retailer has gone into administration.
The Officers Club was put up for sale by auditors PricewaterhouseCoopers LLP after seeing business hit by the credit crunch.Joint administrators Ian Green, Steve Ellis and Nick Reed announced that 118 of the 150 stores have been sold, securing the jobs of more than 1,000 members of staff – but the remaining 32 stores will close immediately.
Job losses: 280
Related Web Links:
Woolworths goes into administration.
Quoted from The Guardian
Debt-stricken retail group Woolworths is to go into administration, putting thousands of jobs at risk.
The company employs about 30000 people at its 815 stores and its Entertainment UK distribution business.Woolworths, a fixture on Britain’s high street for almost 100 years, has been teetering on the brink of collapse in recent days as it struggles with debts of £385m.
No wonder it went into administration. How can the management running the business allow it to go so far into debt?
These managers, directors and CEO should be held accountable. It’s all very well closing down the stores and sacking thousands of people, but surely someone or a group of people should go to jail. That is as good as stealing from a bank.
Job Losses: 30000 – 2500 = 27500
Related News Links:
- The Guardian
- Telegraph
- This is London (Evening Standard) – Iceland buys 51 Woolworths Stores and saves 2500 jobs.
