Thursday, 20 November 2008

More layoffs in offing; 7,000 jobs on razor edge globally

New York, Nov 20 (PTI) Layoffs are turning out to be the flavour of the week, with European auto makers -- Peugeot Citroen and Rolls Royce, British pharma giant AstraZeneca and American defence equipment manufacturer Boeing all set to slash nearly 7,000 jobs.
The latest announcements to cut 7,000 jobs came within a span of two days, and closely follow the financial services behemoth Citigroup's decision to cut over 52,000 jobs, reportedly one of the largest layoffs in corporate history.

Peugeot Citroen would be bringing down its head count by 2,700, while Rolls Royce would be slashing 2,000 jobs. Further, AstraZeneca is planning to axe 1,400 positions, and Boeing has said it would cut 800 jobs.

French auto major Peugeot Citroen would be curtailing its workforce by 2,700 employees mainly due to falling volumes in European markets. The volume decline has been triggered by the financial turmoil and industrial crisis.

"The Central Works Council (CWC) of Peugeot Citron Automobiles is called to attend an extraordinary session on December 2, 2008 to examine a Skills and Jobs Redeployment Project, based on voluntary departures.

"It concerns a head count reduction at all sites and in all group departments and will concern 2,700 employees in the organisation," the firm said in a statement today.

Moreover, Rolls Royce which also manufactures aeroplane engines, plans to slash around 1,500 to 2,000 jobs next year.

"... The Group's current assessment is that in 2009, it will be necessary to implement job reductions across various sectors and functions of around 1,500 to 2,000 on a worldwide basis...," the company said in a statement today.

It would include the proposed reduction of 140 jobs at its Assembly and Test facility in Derby, UK, which forms part of the Group's Civil Aerospace business. PTI

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