5,000 jobs to go at Shell as profits plunge 73 per cent
Friday, October 30th, 2009Cost-cutting plan will strip out 10 per cent of the company’s global workforce
Source:The Independent
Archive for the 'energy' Category
Ameren offers buyouts to 350 employees
Friday, September 4th, 2009Ameren Corp. said Friday it is offering buyouts to 350 of its 9,870 employees and expects to lay off more. Eligible employees will be 58 or older as of Dec. 31, 2009. The offer follows the recent elimination of 139 positions at Ameren Energy Resources Co., Ameren’s merchant generation business segment.
Source: St. Louis Business Journal
China’s SOEs May Terminate Commodities Contracts
Thursday, September 3rd, 2009China’s state-owned enterprises may unilaterally terminate commodities contracts as they try to cut massive losses from financial derivatives, an industry source told Caijing on August 28.
According to the source, China’s State-owned Assets Supervision and Administration Commission (SASAC) has sent notice to six foreign financial institutions informing them that several state-owned enterprise will reserve the right to default on commodities contracts signed with those institutions.
Most investment banks may “just swallow” any losses arising from canceled contracts, the executive said, adding that any losses are usually made up for with compensating trades.
Source: Caijing.com.cn
Suncor Energy to lay off 1,000 workers
Thursday, September 3rd, 2009Suncor Energy Inc., Canada’s largest oil exploration and refining firm, said on Thursday it expects to cut 1,000 jobs by the middle of next month as it consolidates operations and reduces costs after its C$22.7 billion ($20.4 billion) acquisition of Petro-Canada last month.
Source: Reuters
GE Moves Green Jobs To China
Monday, July 27th, 2009In the last decade, GE has closed over 15 factories in Ohio and downsized numerous others. Since 1980, employment in GE Lighting has dropped by 68 percent.
A large chunk of that manufacturing has gone to China, and now GE plans to send even more to China in the wake of new clean energy policies.
Source: HuffingtonPost
~News submitted by David
Green Jobs Sector Poised for Explosive Growth, Study Says
Wednesday, June 10th, 2009The “clean-energy economy” grew 9.1 percent between 1998 and 2007 to 777,000 jobs. While that is just half a percent of all U.S. jobs, the clean-energy economy is poised to grow significantly with financial support from the public and private sectors.
Source: The NY Times
Green Collar Jobs: 37 million by 2030
Wednesday, January 28th, 2009The renewable energy and energy efficiency (RE&EE) industries represented more than 9 million jobs and $1,045 billion in U.S. revenue in 2007, according to a new report offering the most detailed analysis yet of the green economy. The renewable energy industry grew three times as fast as the U.S. economy, with the solar thermal, photovoltaic, biodiesel, and ethanol sectors leading the way, each with 25%+ annual revenue growth.
According to the advanced scenario in the report, which represents the upper limit of what is technologically and economically feasible, RE&EE would generate about 37 million jobs and $4,294 billion in annual revenue by 2030.
Source: American Solar Energy Society
Cummins to lay off 800 employees
Tuesday, January 13th, 2009Cummins Inc. (NYSE:CMI) - designer and manufacturer of power generation equipment, power systems, gasoline engines, custom power supplies - announced Tuesday the company will layoff at least 800 employees worldwide by the end of February and freeze salaries for 2009.
It is unclear which facilities will receive the cuts, but Cummins officials said the layoffs will come after the company first offers a second voluntary retirement package to qualified employees in the U.S.
Source: Memphis Business Journal
