REDUNDANCIES – AUSTRALIA

$2 sale adds to gloom in ailing coal sector

roymorgansocial Leave a comment

Original article by Sarah-Jane Tasker
The Australian – Page: 20 : 3-Oct-14

The benchmark price for metallurgical coal negotiated by Japanese steel producers with Australian mining groups has been set at $US119 a tonne for the final three months of calendar 2014. This compares with a peak of $US330 in 2011 and is a low last seen in 2008. The slump has already triggered widespread redundancies in Queensland by companies such as BHP Billiton. The malaise in the sector has now also been underlined by a deal in which Up Energy Development Group will pay just $US2 to Marubeni and Winsway Enterprises to acquire Grande Cache Coal in Canada

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UP ENERGY DEVELOPMENT GROUP LIMITED, GRANDE CACHE COAL CORPORATION, WINSWAY COKING COAL HOLDINGS LIMITED, MARUBENI CORPORATION, SUMITOMO CORPORATION, VALE SA, DEUTSCHE BANK AG

Axe tipped to fall early on Holden engineers

roymorgansocial Leave a comment

Original article by John Ferguson
The Australian – Page: 4 : 18-Sep-14

GM Holden has declined to comment on speculation that it will retrench 300 engineers. The car-maker has said only that the closure of its Australian manufacturing operations will be a "long and orderly" process, and that it will reduce its engineering team over a period of time. About 2,000 Holden employees will lose their jobs when production ceases in 2017

CORPORATES
GM HOLDEN LIMITED, GENERAL MOTORS CORPORATION

Coles confirms job cuts in Melbourne

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 4-Sep-14

Management confirmed on 3 September 2014 that Coles Group will retrench and redeploy 400 Melbourne support staff. The close to $A40 million in savings arising from the retrenchments will be used to revamp stores and cut grocery prices. The restructure is the largest by the supermarket chain since its 2007 acquisition of Wesfarmers. Several general managers recruited as part of the $A20 billion takeover are said to be leaving Coles under its new MD, John Durkan

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, MORGAN STANLEY AUSTRALIA LIMITED, ACCENTURE AUSTRALIA LIMITED

Telstra to axe jobs in Asia push

roymorgansocial Leave a comment

Original article by Mitchell Bingemann
The Australian – Page: 21 : 24-Jul-14

Telstra group MD for the Global Services division David Burns has unveiled 460 redundancies at the telco, with a further 208 contractors also to lose their jobs. In total some 15% of the workforce in the unit will be affected by a move to outsource the tasks to low-cost providers in India. Michael Tull, president of the Community & Public Sector Union, has condemned the decision. He noted that Global Services is a growth business for the telco and the staff involved are highly skilled

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS|COMMUNITY AND PUBLIC SECTOR UNION

Qantas engineers face axe in $2bn cut

roymorgansocial Leave a comment

Original article by Damon Kitney
The Australian – Page: 20 : 9-Jul-14

Qantas Airways has cut another 167 jobs from its engineering division. The retrenchments in Sydney and Melbourne are due to the retirement of older aircraft and the consolidation of the engineering operations. The airline aims to reduce costs by $A2 billion. At the end of June 2014 it had cut employee numbers by 2,200, and it expects to shed another 1,800 jobs by June 2015

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN

Lynas looks at Malaysia move in restructure

roymorgansocial Leave a comment

Original article by Brian Robins
The Australian Financial Review – Page: 27 : 3-Jul-14

Lynas Corporation will move its head office from Sydney to Kuala Lumpur. The relocation will involve a number of job losses. The Australian-listed rare earth mining company is under pressure to reduce costs because of problems experienced at its Malaysian processing facility. The total cost of relocation and redundancies is expected to be $A5 million

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC

75,000 jobs to go in mining’s new phase

roymorgansocial Leave a comment

Original article by Barry FitzGerald
The Australian – Page: 21-22 : 2-Jul-14

Justin Fabo, senior economist corporate and commercial at ANZ Banking, predicts the Australian resources and related services sector to shed up to 75,000 jobs by 2016. This would be a decline of 28%, and result from the transition from the construction to production phase at many mining and energy projects. Already, over-capacity in the market has brought redundancies at coal and iron ore operation. Fabo stresses that out of the 75,000 workers affected, a large share will be temporary migrants, and that these will simply return home rather than add to the nation’s unemployment rate

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN WORKFORCE AND PRODUCTIVITY AGENCY