Core Viewpoint - The majority of job reductions in UBS' Swiss business are expected to occur in the second half of 2026, as stated by the bank's CEO Sergio Ermotti [1] Group 1 - UBS is planning significant job reductions within its Swiss operations [1] - The timing for these job cuts is projected for the latter half of 2026 [1] - CEO Sergio Ermotti provided this information during a press briefing [1]

General Motors said on Thursday it will eliminate roughly 500 jobs in Canada when a plant in Oshawa, Ontario, cuts a shift, adding more pain to one of the sectors that has been most affected by U.S. t... ...

Societe Generale said on Thursday it would cut 1,800 positions in its French retail banking branch and potentially beyond. ...

Group 1 - Capgemini plans to cut up to 2,400 jobs in France, representing approximately 6% of its workforce in the country [1] - The job cuts are a response to weak demand in key sectors within the company's home market [1] - The decision reflects broader challenges faced by the IT services group amid changing market conditions [1]

Photographer: F. Carter Smith/Bloomberg BlackRock Inc. is cutting hundreds of jobs across the company, becoming the latest Wall Street firm to rein in headcount in recent weeks. The cuts total about 1% of BlackRock’s global headcount, according to people familiar with the matter, who asked not to be identified discussing private information. The reductions amount to about 250 employees firmwide and include members of its investment and sales teams, the people said. Most Read from Bloomberg “Improving ...

Core Points - FedEx is laying off 856 employees in Coppell, Texas, due to a major customer shifting its business to another provider, with layoffs starting in January and the facility closure expected by April 29, 2026 [1][2] - The layoffs are part of a broader trend affecting logistics and manufacturing employers, influenced by trade policies, facility closures, and changing consumer demand [4] Company Summary - FedEx is providing job placement assistance, relocation aid, or severance to affected employees, and some may be eligible for other roles within the company [3] - The Coppell layoffs follow previous job reductions in North Texas, including 305 layoffs in Fort Worth and 131 layoffs in Garland and Plano [3] Industry Summary - The logistics and manufacturing sectors are experiencing significant job cuts due to various pressures, including trade policies and supply chain strains [4]

The executive board of SAP, Europe’s most valuable software company, is facing declining employee trust following recent job cuts and organizational restructuring, underscoring growing concerns about its senior leadership https://t.co/hhNl8k1STS ...

Sir Jim Ratcliffe launched Ineos Automotive after the Land Rover Defender went out of production - Hollie Adams/Bloomberg Sir Jim Ratcliffe is to axe hundreds of jobs at his 4x4 car venture amid tumbling UK sales and pressure on the tycoon’s wider Ineos industrials empire. Ineos Automotive on Thursday said it was taking “strategic measures to structure its business for long-term success” including a reorganisation that will see the head office dramatically slimmed down. The company said this would resul ...

Core Viewpoint - Synopsys is laying off approximately 10% of its workforce, equating to around 2,000 employees, to redirect investments towards growth opportunities following a significant acquisition and disappointing revenue results [1][2]. Group 1: Workforce Reduction - The company anticipates pretax charges between $300 million to $350 million related to severance, termination benefits, and site closures due to the layoffs [2]. - The majority of the workforce reductions are expected to occur in fiscal year 2026, with the restructuring plan projected to be substantially completed by the end of fiscal 2027 [2]. Group 2: Market Context - A significant wave of layoffs has affected global companies, with U.S.-based employers cutting over 150,000 jobs in October, marking the largest reduction for that month in over 20 years [3]. - The technology sector has been at the forefront of these job cuts, followed by retail and services [3]. Group 3: Company Performance and Challenges - Synopsys, which partners with major companies like Nvidia, Intel, and Qualcomm, provides software and hardware for advanced processor design [4]. - The company has experienced a slowdown in China due to new export restrictions affecting design starts and challenges with a major foundry customer [4]. - In July, the U.S. lifted previous restrictions on exports to China for chip design software developers, which may impact future operations [4].

Economic Overview - The U.S. Labor Department will not publish its economic report for the second consecutive month due to the ongoing government shutdown, which is now the longest on record [1] - The lack of official employment data makes it difficult to assess the jobs market, and anecdotal evidence does not inspire confidence [1] Layoff Announcements - Major employers such as Amazon, UPS, and Target have announced plans to lay off tens of thousands of workers in the coming weeks [2] - Target plans to eliminate 1,800 corporate jobs, marking its second-largest corporate downsizing [6] - Amazon is set to lay off 14,000 corporate employees across multiple departments to reduce bureaucracy [6] - UPS has cut about 48,000 jobs this year, including 34,000 positions through its efficiency program [6] Job Market Metrics - U.S. companies announced the fewest number of new jobs since 2011, with 153,074 job cuts in October, nearly triple the 55,597 cuts from the same month last year [4] - Job losses in October are up 183% from September, indicating a significant downturn in the job market [4] Year-to-Date Job Cuts - Through October, employers have announced 1.1 million job cuts, a 65% year-over-year increase from 665,000 cuts through October last year [10] - Job cuts in 2025 are on track to be the worst since 2020, with 44% more jobs cut through October than in all of 2024 [10] Contributing Factors - Reasons for the job cuts include correcting headcount after overhiring during the COVID-19 pandemic, softening consumer and corporate spending, and rising costs due to hiring freezes [7] - The adoption of AI is also mentioned as a factor influencing job market dynamics [8] Impact on Job Seekers - The current wave of layoffs is creating a snowball effect, making it harder for those laid off to secure new roles, which could further loosen the labor market [9]