Crikey Sackwatch

[MrBurns]

Crikey Sackwatch as at 30th Jan

Wizard Home Loans: 50 back-office staff to go from parent company GE Money in transition to new ownership under Aussie Home Loans


BHP Billiton: 3400 locally and 6000 globally, with the possibility of more to come


Rio Tinto: 14,000 globally with 600 jobs slashed from its Perth office


Macarthur Coal: 180 jobs on the back of tumbling commodity prices

Oz Minerals: 70 jobs from its Cuddles mine


Xstrata: 230 workers and production staff shedded at its Queensland coking coal mines

David Jones: 150 head office jobs cut alongside floor staff


Myer: Part-time hours repeatedly reduced by 20% with six full-timers sacked from the Geelong store


National Australia Bank: 120 jobs in its wealth management division in Melbourne and Sydney


PriceWaterhouseCoopers: 170 staff ousted yesterday to add to 40 cuts last November


BDO Kendalls: 12 accountants let go after end-of-year performance reviews


Pitcher Partners: 12 senior audit staff, although this was later denied by the firm


ANZ: 800 jobs in middle management


Macquarie Bank: 100 staff across its Australian investment arm


Suncorp: 1500 staff to go, according to internal memos


Westpac: 5000 jobs could be lost as part of the St George takeover

Axa Asia Pacific: 90 staff cuts announced in December


Fairfax: 550 Australasian jobs as part of last year's 'business improvement program'


News Limited: Six sport reporters joining more than 40 editorial sacked HWT staff across the country, according to a tip received yesterday


Qantas: 40 call centre jobs to add to 1500 sackings last year


Ford: 350 workers from its Geelong and Broadmeadows plants


Ford Credit Australia: 160 jobs as local operation pares back to bare-bone levels


Holden: Workers temporarily laid off for five weeks as production halted


Nissan: 50 staff from its Victorian aluminum casting plant


CSR: 115 jobs at its Geelong and Laverton automotive glass plants as production stops


Goodman Fielder: 400 staff set to go this year as bakeries close


Deacons: 15 property and finance lawyers


DLA Phillips Fox: 12 lawyers


Corrs Chambers Westgarth: 14 lawyers

 

[Aussiejeff]

Crikey Sackwatch as at 30th Jan

Wizard Home Loans: 50 back-office staff to go from parent company GE Money in transition to new ownership under Aussie Home Loans


BHP Billiton: 3400 locally and 6000 globally, with the possibility of more to come
Rio Tinto: 14,000 globally with 600 jobs slashed from its Perth office
Macarthur Coal: 180 jobs on the back of tumbling commodity prices
Oz Minerals: 70 jobs from its Cuddles mine
Xstrata: 230 workers and production staff shedded at its Queensland coking coal mines
David Jones: 150 head office jobs cut alongside floor staff
Myer: Part-time hours repeatedly reduced by 20% with six full-timers sacked from the Geelong store
National Australia Bank: 120 jobs in its wealth management division in Melbourne and Sydney
PriceWaterhouseCoopers: 170 staff ousted yesterday to add to 40 cuts last November
BDO Kendalls: 12 accountants let go after end-of-year performance reviews
Pitcher Partners: 12 senior audit staff, although this was later denied by the firm
ANZ: 800 jobs in middle management
Macquarie Bank: 100 staff across its Australian investment arm
Suncorp: 1500 staff to go, according to internal memos
Westpac: 5000 jobs could be lost as part of the St George takeover
Axa Asia Pacific: 90 staff cuts announced in December
Fairfax: 550 Australasian jobs as part of last year's 'business improvement program'
News Limited: Six sport reporters joining more than 40 editorial sacked HWT staff across the country, according to a tip received yesterday
Qantas: 40 call centre jobs to add to 1500 sackings last year
Ford: 350 workers from its Geelong and Broadmeadows plants
Ford Credit Australia: 160 jobs as local operation pares back to bare-bone levels
Holden: Workers temporarily laid off for five weeks as production halted
Nissan: 50 staff from its Victorian aluminum casting plant
CSR: 115 jobs at its Geelong and Laverton automotive glass plants as production stops
Goodman Fielder: 400 staff set to go this year as bakeries close
Deacons: 15 property and finance lawyers
DLA Phillips Fox: 12 lawyers
Corrs Chambers Westgarth: 14 lawyers

I make that approx. 15,730 sackings WE KNOW ABOUT. Add to that the unknown number of HVN staff who will get the boot from HardlyNormal's 10 stores he is going to shut shortly.

Add to that the 10's of 1,000's of UNDECLARED part timers and temps who would have been sacked from a myriad of small businesses.

It's ALWAYS far, far worse than the "official" or media figures tend to show.

 

[Glen48]

So what are you trying to tell us ??? stock up on Valium or take steps... big ones way out West and camp on a river bank living on Bake Beans with a under and over by your side until is is all over.
Strange we aren't in a recession yet must be bad when it hits.
Don't forget Hardly Normal closing 10 stores.
They will be a market for multi rooms houses or units like the Japs have but we need to convince the Council's to relax all their mad laws.

 

[gfresh]

They missed a few.. Riviera layoffs now close to 500 in the last 12 months.

http://www.goldcoast.com.au/article/2009/01/29/43775_gold-coast-top-story.html

I guess it's easy to be circumspect as long as it's not you getting the chop.... yet

 

[Glen48]

http://dailybail.com/storage/bailou...CE_CACHEVERSION=1232609640467&ref=patrick.net

 

[Aussiejeff]

http://dailybail.com/storage/bailou...CE_CACHEVERSION=1232609640467&ref=patrick.net

LOL!

How would you like to be the Taxpayer in that 'toon if Wall Street took a dump?

 

[white_crane]

Probably one of the only times when you might be glad that you're in a government job.

 

[MrBurns]

Update -

Sackwatch: 1.5 million and counting
Compiled by Andrew Crook:

The Crikey army has responded in predictably feisty fashion to our inaugural SackWatch list, with the tips piling in from across the country.

In new figures released on Friday, Roy Morgan claims 1.5 million Australians, or 13.9% of the population, are now unemployed or underemployed.

Here are the latest examples of corporate malfeasance to add to the doom and gloom set to engulf the jobs market this year:

De Longhi: Household appliance maker said to be temporarily sacking 400 workers at its radiator unit

Brookfield Multiplex: Staff sacked each month since August with around 250 white collar workers already dumped

Orica: "Hundreds" globally but local toll yet to be confirmed

Riviera: 110 at national boat builder

Electrolux: 44 jobs in Australia and New Zealand

Boeing: 6% across-the-board cuts in its global workforce. The company has 3,800 local employees and has already sacked 500 workers from a subsidiary.

Electronic Arts: Local top-level management have been shown the door after the software firm's Canadian arm sacked 55 workers.

Citrix: 10% of global workforce retrenched. Software firm has 160 staff across Australia and New Zealand.

GBS Gold: 300 workers sacked after firm entered receivership

Matilda Minerals: 12 full time workers on the Tiwi Islands

Redbank Mines: 6 full time copper mine workers

GEMCO: BHP Billiton-owned miner put off 200 contractors and a few direct employees

Compass Resources: 250 jobs at Browns copper, nickel and cobalt mine

OZ Minerals: 1200 more local job losses at debt-ridden miner

Xstrata: 300 workers laid off temporarily from the McArthur River Mine

CDE capital: Mining contractor has put off 30 staff at McArthur River Mine

Ausenco: 50 staff from their Perth office

ANZ: 100 NZ call centre jobs outsourced to India

Australian Taxation Office: 133 regionally-based jobs as managers scramble to meet productivity targets

Cook's Construction: Approx 500 people have been made redundant over the past 3 months from all over Australia

Construction industry: 50,000 jobs in Queensland with thousands more nationally


Have you been sacked? Send your tales of job cut woe to boss@crikey.com.au with "sackwatch" in the subject field and we'll keep the list updated as a handy HR reference point.

 

[Glen48]

Is it time to start thinking Depression on the Horizon?
Yet some experts say we are not even in a recession.
At last they are say the 10.4 B was a waste of loot I hope WS and KR take note.

 

[numbercruncher]

Yet some experts say we are not even in a recession.

They are mostly perma's whom bought multiple IPs at the peak and are now crapping themselves .....

poor wee souls ....

 

[Aussiejeff]

Hardly Normal drip-dripping down the gurgler? Now closing 5 OFIS stores.

Mr Hardly says number of employees who will be sacked is unknown. They always say that. Doesn't sound so bad.

 

[Aussiejeff]

MacBank has just revealed the extent of its jobs shedding, beginning late last year.

It has now confirmed 1,047 staff have been sacked, which reverses years of fast-paced corporate growth.

 

[investorpaul]

Articles like this: Recession? You've never had it so good Dont help, people who follow that are living in la la land. They will certainly know how bad it is when they lose their jobs and seem the economy crumble even further.

The journalism standards on that site are a non existent

 

[investorpaul]

More jobs gone

GE Capital - 400 Ge capital to slash 400 jobs

Panasonic - Not sure if any will be in Aust? although the article says half will be from japan and the other half from their world wide operations.Panasonic cuts 15000 jobs worldwide

 

[Glen48]

With Suncorp in a trading halt trying to raise $1B+, CEO going and Suncorp insuring home for flood damage were others don't, All of NQ just about flooded ...have they gone under water????

 

[Glen48]

With most of Japan's electronic firms going down and Japans record for quality, and we are told manufacturing is the way to go, is it a success in the long term?

 

[sinner]

Hi guys,

Moving the focus closer to home again

http://business.smh.com.au/business/layoffs-inevitable-analyst-20090206-7zjy.html
Lay-offs inevitable: analyst

News Corp says it will lay off staff in Australia as part of a global cost cutting plan as the media conglomerate faces slumping print advertising revenue and a higher costs for write-downs.

"We are implementing rigorous cost-cutting across all operations and reducing head count where appropriate'' in an effort to preserve profitability, said chief executive Rupert Murdoch in the company's earnings release.

...Clicky for more

 

[sinner]

RBA Forecast:

http://www.abc.net.au/news/stories/2009/02/06/2484243.htm
Growth forecast slashed, more job cuts on way

The pace of economic growth is expected fall to a virtual standstill this year, says the Reserve Bank (RBA), which is also flagging significant rises in unemployment.

In its latest policy statement on monetary policy, the RBA says there was a marked deterioration in world economic conditions late last year.

It expects the pace of growth to fall to just 0.25 per cent in the year to June.

The central bank says labour market conditions have begun to soften because of slowing demand, and activity, suggesting substantial job losses in coming months.

Interest rates are likely to fall even further as inflationary pressures ease.

The Reserve Bank says Australia could still avoid slipping into recession, with aggressive interest rate cuts and the Federal Government's stimulus measures helping to cushion the country from the worst of the global financial crisis.

Australia has been particularly affected by the slowdown in its major trading partners, Japan and China, where output has virtually ground to a halt.

The Reserve Bank expects unemployment to soar during the next few months because of the weakness in demand and activity.

But the central bank acknowledges the combination of its deep interest rate cuts since September, and the Federal Government's stimulus packages may be enough to protect Australia from a recession, if demand rebounds faster than is currently expected.

 

[Glen48]

Good news at last 4 out of 5 economist on the ABC this week claim it will turn around by end of 09 now if you haven't lost your job, house, marriage, sold your kids all will be well. Phew glad we have them thinking for us.

 

[shaunQ]

100,000 small firms tipped to hit the wall

According to research from Dun & Bradstreet, the country's leading credit report company, one in nine companies have fallen into the "high risk" category of financial distress, with small businesses facing the biggest likelihood of failure.

The D&B research identifies finance, insurance and real estate as having the highest number of firms at risk of financial distress. It finds manufacturing accounted for the second-highest jump, up 15 per cent on last year.

http://www.news.com.au/business/story/0,27753,25020520-5017672,00.html