MNC

Citigroup plan to have pay rise of up to 50% this year

Troubled banking giant Citigroup Inc. intends to raise its employees’ base salaries by as much as 50% this year to offset smaller annual bonuses, the New York Times reported Tuesday, citing people with direct knowledge of the plan. The change would mean that most Citigroup employees will make as much money as they did in [...]

Goldman Sachs on pace for record bonuses

NEW YORK (Reuters) – Goldman Sachs Group Inc is on pace to make record bonus payouts after a robust first half, the Guardian newspaper reported on Sunday.
Goldman staff in London were briefed on the outlook and told they could look forward to the bonus hikes if the company registers its most profitable year ever, the [...]

Micron Semiconductor Asia to lay off 10% of employees?

We are receiving reports that Micron Seminconductor Asia announced today the lay offs of 10% of its employees, this follows rumours that have been spread around for the past few months about retrenchment.
If you are working at Micron or have any more information, don’t hesitate to contact us.

Celestica Inc. shuts down factory in Philippines, 1000 jobs lost

MANILA – CANADIAN electronics firm Celestica Inc is shutting down its factory in the central Philippines, with the loss of about 1,000 jobs, the government said on Friday.
The company, which manufactures telecommunications equipment at the plant on Mactan island, just off the central island of Cebu, has informed the Mactan Economic Zone of its plans [...]

Toyota targets $1.46b cost cut

TOKYO – JAPAN’S Toyota Motor aims to cut the cost of producing its compact cars by a billion dollars a year as their demand is likely to grow amid the global recession, a report said on Sunday.
The world’s top automaker plans to use common platforms and parts for the bulk of its compact cars by [...]

Double-digit layoffs expected at Amex here

AMERICAN Express will retrench a small number of people from its Singapore office as part of the group’s global retrenchment exercise which will see 4,000 jobs lost or 6 per cent of its total workforce.
A source said the number of people laid off in Singapore will be in double digits but not as high as [...]

Nikon to axe staff, downsize in Singapore

JAPANESE camera and precision equipment maker Nikon Corp is cutting 1,000 jobs worldwide but no staff will be axed here although it will downsize its small Singapore unit.
It will lay off 800 out of its 2,900 Japanese manufacturing staff and 200 from the 1,700-strong workforce employed in overseas marketing and servicing and domestic servicing.
The firm [...]

Shell to cut up to 10,000 jobs in worldwide restructuring

More than 10,000 jobs at Royal Dutch Shell are under threat as Peter Voser, the oil giant’s new chief executive, announced a radical shake-up of the company.
In a series of moves designed to slash billions of dollars from Shell’s cost base and sharpen its focus in an era of low oil prices, the company said [...]

Siemens to cut over 1,000 jobs

German industrial giant Siemens is set to cut more than 1,000 jobs in software and metals engineering subsidiaries in Austria, the firm said.
Siemens was planning to shed some 850 staff in its Austrian software branch until the end of September, the local worker’s council said.
A spokesman in Vienna confirmed this order of magnitude, corresponding to [...]

HP profits down, to cut nearly 6,400 workers worldwide

US computer giant Hewlett-Packard reported a 17-percent fall in quarterly net profit on Tuesday and said it plans to cut two percent of its workforce, or nearly 6,400 workers, over the next year.
HP said net profit fell to 1.7 billion dollars, or 86 cents per share, in the second quarter of its fiscal year from [...]