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1.Market Observations

14 Feb 2012 – Thousands more jobs doomed

[COMMENT: The federal govt keeps saying that the Australian economy is going great. But we continue to see retrenchments?]

(14 Feb 2012, The Age, p1, Ben Schneiders and Eric Johnston)

‘MORE big employers, including Qantas, are poised to shed workers across Australia, adding to the recent wave of cuts in banking and in the struggling manufacturing and retail sectors.’

‘As the ANZ bank yesterday flagged plans to slash 1000 positions – mainly at its Melbourne headquarters – it emerged that Qantas was set to reveal job cuts on Thursday when it releases its half-year earnings.’

‘Hundreds more jobs are at risk in retail after administrators were appointed yesterday to the national bedding and furniture chain Sleep City.’

‘The latest job losses come after moves by car makers Toyota and Holden to slash their Australian workforces, and as Alcoa considers offloading hundreds of workers at its unprofitable aluminium smelter in Geelong.’



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