| Company | Jobs |
|---|---|
| Qantas | 6000 |
| Woolworths | 1300 |
| Target | 1000 |
| Deloitte | 700 |
| PwC | 400 |
| ABC | 250 |
| KPMG | 200 |
Anymore ?
2020 Job Layoffs Kicking off
dcep on 23/06/2020 - 18:10
Last edited 25/06/2020 - 15:53
Last edited 25/06/2020 - 15:53
Comments
Qantas will shed quite a few once JK ends.
6000 jobs as of this morning! even earlier than expected
Wait for the banks, insurance companies and other financials to get into the swing. It will be ugly.
Insurance companies have their hands full. Banks will cut a lot of "project" staff (which is 1000's) given their capex will grind to a halt. They'll trim the fat sales/marketing team wise and do hire freezes until things turn around. It is all the same as the GFC. Just that the bounce back period won't be so quick.
Good news is that anyone with distressed assets experience will be in high demand.
I work in IT department of an insurer, word from inside is that the industry is doing pretty good. Some a lot better than others though. My company is carrying on as usual, turning a profit and even hiring more staff to fill new roles.
Pandemic makes everyone buy insurance. So you could say they're profiting from people's fears.
I mean this completely genuinely, why is a company laying off a thousand or less employees noteworthy? Is it just to show the economic climate? Are we using this as in indication of future larger layoffs?
Isn't 1000s of employees significant? I think it is.
Yes it does show the economic climate.
It's about shareholder perception.
It all adds up. If big companies are losing these, then smaller companies will go under (and lose all staff) as well.
And the circus carries on
When the Circus get rid of the Lion Tamer, I reckon things won't be pretty…
Just like the Siegfried and Roy thing… Well except that was a Tiger, in Vegas.
and we will still be okay
It'll take until September when Australia is forced from Scomo's sweet teat of poorly thought out coolade to uncover just how terribly Australia is doing. You can only prop up a struggling economy for so long, and i don't think we'll make it to the next election at this rate unfortunately for Scotty.
We're lucky iron ore is holding up as it is.
Until then we're blindly following America off a very high cliff and straight into recession.Construction won't prop us up when everyone's drowning in debt.
Just look at new car sales…Sorry about the bear opinion but someone has to take the rose tinted glasses off the government
poorly thought out coolade
I don't agree. I am aware of a lot of employers who have revenues restored to similar to pre-pandemic levels, but are having their staff wages covered until September. They are very pleased with how well thought out the package was for them.
A friend who is a financial adviser is flat out with SMSFs and new trusts to handle his small business customer's needs by 30th June.
A friend who is a financial adviser is flat out with SMSFs and new trusts to handle his small business customer's needs by 30th June.
This is par for the course every end of financial year for a financial advisor though. Doesn't mean the economy is going good.
Understood, but this was after I made a comment that things were a bit grim and he said his small business clients were more cashed up than usual as many had experienced short term impacts, but were getting wages support till September, and found themselves with extra cash.
I'm not opposing the actual payments, it's the way they rushed it through. New zealand means tested it to match the hours worked in the weeks before.
I had many friends working 1 day a week for ~$200. All of a sudden they're getting $750 a week for doing nothing while the essential workers (coles woolies) work full weeks for less pay than job keeper.
It just didnt make sense
Jobkeeper is $750/week, equivalent to $19.73/hr.
Jobkeeper was designed to represent minimum wage of $19.49/hour.
Woolworths basic pay rate $21.68/hour or $27.10 casual.
We're lucky iron ore is holding up as it is.
Just like after the GFC
Construction won't prop us up when everyone's drowning in debt.
It did after the GFC
Just look at new car sales…
Falling off a cliff, just like after the GFC
This is a different beast, but we've seen this before. Australia will be OK once we can open the economy up locally. Travel/Tourism/Education will suffer but they are really due for an efficiency shake up anyway.
iron ore is holding up as it is.
Just like after the GFCYou expect China to grow +10% again ? Build zombie cities ?
Construction won't prop us up when everyone's drowning in debt.
It did after the GFCYou expect monies from another Mining boom , thanks to China?
40% of our exports is to China and Did you missed that Scomo is having a go at China and China is imposing tariffs on our exports?
You expect monies from another Mining boom , thanks to China?
No.
40% of our exports is to China and Did you missed that Scomo is having a go at China and China is imposing tariffs on our exports?
No.
But it is frustrating when people point out the newspaper doom and gloom headlines without much thought behind them.
China is imposing tariffs on our exports?
Barley and Beef only (ban on Beef).
We went through the GFC because of competent economic managers and mining, maybe the Liberals can lead us through this but I doubt it. The economy was in a much better place before the GFC then it is now.
"Sorry about the bear opinion but someone has to take the rose tinted glasses off the government"
The government knows we are in BIG Trouble. If it said that and the housing market crashes. Australia will be doomed for 50 years.
Just think of how many people who have purchased property in the last 3 years and are told your house is worth 1/2 of what the mortgage is. They'll just walk away from it, the whole system will collapse, a run on the banks it will be a blood bath. The GOV has to do everything to protect what they and the greedy has created.
Don't read too much into these numbers, most large corps are taking advantage of the loosened environment to cut payroll. Woolworths especially where they are reassessing the risk of their enterprise agreements.
How many CEO's or Board Directors are being cut?
You do realise that so long as the company in question is operating someone will be the CEO, right?
Sure, I meant their Salary Packages.
Example: ABC board takes 10pc pay cut
Im sure there will be quite a few
Example:
https://wcsecure.weblink.com.au/clients/scentregroup_new/hea…
Privatised electricity and ports have "severely damaged" the Australian economy according to ACCC's Rodney Sims in 2016.
Everyone seems happy with that damage going on despite the damage occurring literally because they're losing their own money.
We have dozens of energy retailers competing in the marketplace, each with their own set of CEOs, boards, secretaries, accountants, lawyers, call staff, office space, car fleets, advertising, and government lobbysists.
That is awesomely efficient!
Thank god WA hasn't privatised the energy industry yet.
Why? Electricity is a (profanity) rip off here, no competition, no sign up bonuses for new customers, and a $30+ setup fee just to (profanity) switch a bit from 0 to 1 on their system. Bring on privatisation asap.
@[Deactivated]: https://thewest.com.au/business/energy/australian-energy-mar…
“The cost of electricity in Western Australia is cheaper than New South Wales, Victoria and South Australia — where they’ve all privatised their electricity.”
case and point
@Drakesy: That's just a quote by the energy minister. I'm not taking a politician's word. Proof or bust.
@[Deactivated]: OK, well lets do one better (don't really know why i bother).
How trustworthy is the Australian Bureau of Statistics?
https://www.abs.gov.au/AUSSTATS/[email protected]/Lookup/4102.0Main+F…@Drakesy: Fair enough, I clearly underestimated how much electricity costs over East. What's the reason for Hobart being so expensive despite being public though?
Ok
Cochlear (if they can't secure more capital this year) soon, Resmed supposedly soon after they release that new sleep apnea machine, ABC will announce 250.
Ozbargain could trim some fat.
I just volunteer
Same
Well pretty sure Holden is going to be sacking most of its non mechanical staff
I also feel like a load of other car companies will struggle in this time with new car sales down like 37%
Honestly when stuff like this happens it kind of makes professions like Nursing look really good always in a job pretty much
Hey on the bright side with all these unemployed people they are going to have hire more people to work at Centrelink…
wait til jobkeeper ends, once the medication dries up it will be bleak
The corrupt liberals throwing everything they can at the ailing construction sector to prop up their investments, it will fall like a house of cards (excuse the pun)
Corrupt government.
If you believe that Labor is any less corrupt, you're delusional.
Every party is or will eventually succumb to corruption to the same degree as long as the system allows for it.
Assume all parties are corrupted so remove that as a factor and only consider policies and outcomes. If not, your political ideas will simply be a game of pointing fingers.
At the end of the day it's what kind of corruption.
In one hand you have the Liberal white collar corruption, allowing big banks to get away with worthless insurance, money laundering, fees for no service. Developer's sticking out their hands (which politicians have shared interests in) to sell land in the middle of nowhere at jacked up prices amounting to millions if not billions of dollars of losses and an artificial housing bubble.
In the other hand you have Labour blue collar corruption, allowing unions the right to set construction costs, payrolls, picketing ports etc. This results in lost profits to the big businesses and reduced efficiencies.
Neither are beneficial, however i feel one is the greater evil and rorted to a greater degree (that being the Liberals), with the retention of negative gearing tax breaks largely to blame for inflated housing prices. What other country would allow their tax payers to effectively pay people who are losing money on their investment properties!?
Apart from your biased view on "better/worse" evil, you are spot on.
I wouldn't call one better than the other as neither are victimless crimes. What you're implying is that one group has it coming and your concession to that is entirely theoretical (may be true, may be not).
Whether you shoot a rich man or you a poor man, what comes of their pockets for the rest of the population to pick on does not change the degree of evil.
Both are equally evil. One may be less damaging but both are equally evil.
What about the rail taking all the containers not trucks when they build the robotic factory ? truck companies will be in trouble when it starts .
By the looks of things we going to end up like China 30 years ago . Working on farms
Gerry Norman said years back that his buying farms so when you don't have a home he will give you one as long as you work on the farmOf course you do, if you meet the eligibility criteria as a sole trader or if you are employed and your employer meets the criteria.
Scarlet Alliance, the Australian Sex Worker Association has a good information fact sheet on Jobkeeper if you need guidance.
http://www.scarletalliance.org.au/COVID-19/IMO all essential service workers should get it, so yes.
So does this mean that those withdrawing from their super may actually be better off, assuming that super returns will follow this forecast and go down?
Deloitte, Pwc, KPMG. No loss there, those companies are parasites that over-charge and under-deliver. Particularly to our government (aka your tax dollars).
I have a friend who works for one of the big four and he's appalled at the flagrant attitude towards expenditure by the government. Basically the big 4 and the government are in cahoots with each other.
He personally works with defense and they'll happily spend their budget for no reason other than to secure the spending for the next year. Some of their budgets have run a billion dollars over (delivered by a big 4 firm) with 0 accountability. Half the jobs he works on are pretty much box ticking exercises with no expertise needed which can be done in house however the civil servants choose to outsource as it forces them to work.
https://www.news.com.au/travel/travel-updates/health-safety/…
add 6000 qantas employees
they will be begging for government handouts next
Keep in mind JobKeeper is currently also hiding unemployment and masquerades people as "employed".
I expect those numbers to jump A LOT when JobKeeper scheme ends.