EMPLOYEE TERMINATION

Employee Termination continues Worldwide !




T he global economy is in the doldrums. Nations are battling a nightmare called recession. Balance sheets are studied with a frenzy and companies are struggling to stay in the black. Yet, the saddest story of the financial meltdown is the common man. In less than 20 days this month, 30 well-known international companies have announced job cuts. Soft drink distributor Pepsi Bottling Group Inc is planning to slash about 3,150 jobs across US, Canada Europe and Mexico as part of its restructuring plan. This is expected to result in pre-tax savings of up to $160 million. "These moves will allow our business to better deal with the challenging macroeconomic conditions that currently exist, " Pepsi Bottling Group's chairman and chief executive officer Eric Foss said.


U K-based telecom major British Telecom will cut 10,000 jobs by March 2009. About 4, 000 of the job losses will be direct BT staff, the remaining 6,000 will be from related employees. The cuts will mainly affect agency and contract staff and offshore workers, the company said, but sub-contractors and other indirect employees would also lose their jobs. BT has also said its India operations won't be affected. The move to cut jobs comes after the company posted an 11 per cent decline in pre-tax profits at pound 590 million for the September quarter. A report in The Telegraph said, 'BT has cut its headcount from 250,000 at privatization in 1984 to 160 , 000 today and indicated there is scope for more job losses. The company said 4,000 employees have already left the business this financial year and a further 6,000, mostly in the UK , will go by the end of March.' BT has a global workforce of 160,000.