JOB CUT

 

17 Nov 2008

– Citigroup Inc. cut another 53,000 more jobs in the coming quarters.

- JPMorgan Chase & Co. will likely cutting thousands of jobs beginning next year.

- HSBC cut 450 staff in Hong Kong in anticipation of a deteriorating global economy next year

- SUN Microsystems will cut 5000 to 6000 in the latest series of restructure.

- US unemployment rate bolted to a 14-year high (1994) of 6.5 percent in Oct, 240,000 jobs were cut

- ANZ may cut 10% of workforce, up to 3,500 workers

- Friends Provident, a British insurance and pensions company, is likely to cut 280 jobs.

- Kuala Lumpur, technology companies seem to be among the first to consider shedding staff,

  Last week, semiconductor player Unisem (M) Bhd and hard-disk drive manufacturer Eng Teknologi Bhd

  announced that they were freezing recruitment in the face of uncertain outlook for their respective industries.

- Grain and sugar producer Razgulyai Group said Friday that it cut 2,200 jobs

 

16 Nov 2008

- Cymer Inc. said it would cut 85, or 8%, of its jobs worldwide.

- NATIONAL Australia Bank has cut into its British workforce, with around 350 jobs affected by Friday's

  announcement of a strategic alliance between insurance group Axa and NAB's Yorkshire and Clydesdale banks.

- Two Anheuser-Busch Cos. Inc. employees and an outside contractor independently told the Business Journal

  a large number of brewery engineers will let go 300 engineers in the coming weeks.

 

14 Nov 2008

Mutual fund manager Fidelity Investments that it will cut 1,700 more jobs in the first three months of 2009.

 

Employers cut 403,000 jobs in September.

Another 320,000 were chopped in October.

Slashed 533,000 jobs in November, the most in 34 years.