NO this is not bad management, bad products, bad locations. It’s various sectors, various countries. One underlying problem: Global economic slowdown.
For those who are paying attention, it’s very clear. The global economy is rapidly slowing down and the companies are laying people off. The difference between last cycle and this cycle is that robotics and automation have advanced. Once a resurgence in the economy eventually occurs, there will be much less need for employers to hire all of their former staff. This will have a long-term impact on the economy that will not be resolved by central banks.
Citigroup said to cut hundreds of trading jobs in a bad sign for Wall Street – BNN Bloomberg
www.bnnbloomberg.ca/citigroup-plans-to-cut-hundreds-of-trading-jobs-as-revenue-falls-1.1294056
Nordea’s 6,000 Job Cuts Not Enough as Bank Chases More Savings – BNN Bloomberg
www.bnnbloomberg.ca/nordea-s-6-000-job-cuts-not-enough-as-bank-chases-more-savings-1.1289478
HSBC poised to make fresh wave of job cuts as part of latest restructuring plans – Mirror Online
www.mirror.co.uk/money/breaking-hsbc-poised-announced-job-18813499
Barclays bosses confirm thousands of job cuts – Financial News
www.fnlondon.com/articles/barclays-bosses-confirm-thousands-of-job-cuts-20190801
Lowe’s Lays Off Thousands of Store Workers – WSJ
www.wsj.com/articles/lowes-lays-off-thousands-of-store-workers-11564680676
Uber lays off about 400 employees in marketing department reorganization – Los Angeles Times
www.latimes.com/business/technology/story/2019-07-29/uber-layoffs-marketing-jill-hazelbaker
Huawei cuts 600 jobs from its US research wing after being blacklisted | TechCrunch
techcrunch.com/2019/07/23/huawei-cuts-600-jobs-from-its-us-research-wing-after-being-blacklisted/
Nissan job cuts: 12,500 positions to go as profits collapse – CNN
www.cnn.com/2019/07/25/business/nissan-job-cuts-earnings/index.html
Ryanair CEO Says Hundreds of Jobs On The Line Over Brexit, Max – BNN Bloomberg
www.bnnbloomberg.ca/ryanair-ceo-says-hundreds-of-jobs-on-the-line-over-brexit-max-1.1295020
2019 July Job Cut Report: 38,845 Cuts in July Led by Transportation, Industrial, Energy | Challenger, Gray & Christmas, Inc.
Weekly US and UK Store Openings and Closures Tracker 2019, Week 30: GNC Set to Close More Stores | Coresight Research
Gauge of US manufacturing hits lowest since September 2009, raising concerns about the economy
Daily Job Cuts – Layoffs News / Job Layoffs 2019 / 2018 , Bankruptcy, Store closings, Business Economy News