Mercedes-Benz plans to cut an additional 200 jobs at its Alabama auto assembly plant by the end of this year, part of the latest effort to bring production in line with slumping global demand.
Source: TheBirminghamNews
Magna International Inc. plans to cut 10,500 jobs at General Motors Co.’s Opel unit, Frankfurter Allgemeine Sonntagszeitung reported today, citing an unidentified Magna spokesman.
About 4,500 of the total cuts will be in Germany, the newspaper said in an e-mailed summary of an article to be published tomorrow.
Source: Bloomberg
(Germany) DHL will eliminate 560 jobs in Germany as a result of the insolvency of German retailer Arcandor, the company announced.
Source: Joc.com
The Munich-based company, once one of the world’s biggest fashion brands, german fashion company Escada AG said it will probably file for bankruptcy protection Thursday. Escada operates 182 of its own shops and 225 franchise shops in more than 60 countries, employing about 2,300 people.
Source: Forbes, AP
Florida’s unemployment rate in May jumped to 10.2 percent - its highest level in more than three decades, state officials said Friday.
Source: Forbes
Magna, the Canadian car-parts maker that’s competing with Fiat SpA in its bid for for General Motors Corp.’s Opel. Officials said as many as 11,000 jobs may be lost across Europe, including 2,600 in Germany.
Source: Bloomberg
SAP AG said Wednesday it will cut a little more than 3,000 jobs in response to the worldwide economic downturn.
The Walldorf, Germany-based software giant said it will reduce its work force to 48,500 by the end of the year, down from 51,536 at the end of last year. The cuts will enable it to save 300 million to 350 million euros a year starting in 2010, SAP said.
Source: Philadelphia Business Journal
According to AutoBlog: “Lagging demand has forced BMW to cut 26,000 workers for the months of February and March and BMW’s factories in Dingolfing and Regensburg will be effected by the eliminations, which will cut 38,000 units. BMW is also reducing hours at Berlin and Landshut to better align output with demand. The reduced production hours and labor cuts won’t result in any permanent layoffs, though a prolonged sales slump could lead management at the Bavarian Motor Werks to take more drastic action. The shrinking vehicle market is also hurting BMW’s stock price, which is down 49% over the past 12 months.”
Volkswagen, Europe’s largest carmaker, will shut five German factories from Feb. 23 to Feb. 27, affecting two-thirds of its 92,000-strong German workforce. Volkswagen’s closings will affect the factory at its headquarters in Wolfsburg as well as plants in Emden, Hanover, Zwickau and Dresden, trimming output of Golf, Passat, and Phaeton models, according to Bloomberg
SpiegelOnLine reports: “According to a report released on Wednesday by the Federal Labor Agency, which tracks German unemployment statistics, the number of jobless rose by 114,000 in December, bringing the total to 3.102 million or 7.4 percent.”
“On average, the total number of unemployed last year was 508,000 lower than in 2007. Analysts, though, anticipate that 2009 will see increased job losses in Germany.”
According to ITExaminer: “SAP India has vociferously denied a report in the Financial Chronicle claiming the company plans to lay off over 1,000 company contract workers.”
“No layoffs, as are being reported, have been planned thus far; we are conducting a detailed evaluation on the basis of our business requirements and will realign all our resources to optimize operational efficiencies”.
However, SAP admitted that it had taken a “series of prudent and appropriate steps to assure cost-efficient operations of the company during this period of economic uncertainty”.
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According to Techcrunch: “Germany-based business networking service Xing today announced its CEO Lars Hinrichs will step down and be replaced by Ebay Germany head Stefan Gross-Selbeck effective January 15, 2009.
Hinrichs founded the company in 2003 and led it to an IPO three years later at the Frankfurt Stock Exchange where the market cap is currently hovering at around $182 million. (Which is a fraction of LinkedIn’s reported $1 billion private valuation). He will join Xing’s supervisory board as a consultant.”
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