Crikey Sackwatch

MrBurns said:

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

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Glen48 said:

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

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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.

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Glen48 said:

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

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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

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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.

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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.

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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.

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