Goldman Sachs will cut about 30% of the jobs in Asia. The US bank would be to announce the cutting of about 30% of its workforce in Asia, excluding Japan. Goldman, whose investment banking revenue fell 11 per cent to US$1.79 billion in the second quarter, is reducing the number of bankers working on mergers and acquisitions, and equity and debt capital market deals, Reuters said, citing unnamed sources.
The citizens of Ticino ask to place restrictions on cross-border workers. According to final results, the initiative referendum "Ours First" – promoted by the Swiss People’s Party (UDC) with the support of the Ticino League – passed with 58% of "yes". The rejection was 39.7%.
The text submitted to the voters of the canton, where about 62 thousand border workers work every day , calls on "the labor market is preferred, level on professional qualifications, those who live on the territory."
Applications for unemployment benefits in the US fell again in the week endend 17 September. The US labor market confirms the solidity, keeping unemployment at the lowest level since 1973.
Claims slide by 8.000 units to 252 000 from 260 thousand the previous week’s unrevised. Analysts’ forecasts were instead for a small increase to 262 thousand units. The streak below 300k estends to 81 consecutive weeks, the longest since 1970.
UBS cuts 56 back-office jobs in Luxembourg, part of the plan of reducing costs. Earlier this month the group had planned to eliminate 60 workplaces in the Grand Duchy for replace in Wroclaw, Poland, where labor cost is lower.
Applications for unemployment benefits in the US in the week ended on September 10 grew slightly. Jobless claims rose by 1,000 to 260,000 from 259,000 the previous week. Analysts’ forecasts were instead for an uphill 265,000. Applications have come in below 300,000 for 80 straight weeks, longest streak since 1970.
The unemployment rate remains substantially stable in July in UK, even after Brexit, that has not slowed the pace of creation of jobs, according to the data published by the Office for National Statistics (ONS).
In July the number of people who applied for unemployment benefit in Britain rose to 2,400 units, compared to 3,600 the previous month. The figure is worse than expected by analysts which estimated an increase of 1,800 units.
The labor market should remain stable in Switzerland in the next three months. It is the result of the analysis carried out by Manpower, according to which more than nine out of ten employers do not provide for changes in the number of jobs in the fourth quarter of 2016. Only 4 % are expecting to increase their staffing levels, while 3 % are anticipating a reduction.
“This relatively stable-but subdued-forecast may be due in part to the UK’s vote for Brexit, which is exacerbating political uncertainty and bringing the risk that the Swiss franc may rise further against the euro," noted Herbert Beuchat, interim director Manpower Switzerland, quoted in a statement.
It is difficult to find new workers: it is the result of the survey conducted over 150 companies by the consulting firm Robert Walters. In Switzerland, for 68% of companies, it is hard to recruite new staff to fill vacancies.
In particular, the big obstacle is, for more or less half of the employers, the poor knowledge of languages. Companies also complain about the shortcomings of the technical level qualifications (70%) and consider an "enemy" (36%) the strong request of increasing salary by expectant employees.
