Job Cuts Starting All Over Again

When we had the crash of 2008, we knew that job cuts followed immediately after it. Today, the stock market is rapidly deteriorating with China and India slowing down, American and European banks hitting new lows, European bond yields hitting new highs.



Here are the highlights of the most recent job cuts since 2012 started.



Lufthansa cuts 3500 jobs

HP cuts 30000 jobs

HSBC cuts 3167 UK jobs

Dell set to cuts jobs in the UK

Yahoo cuts 2000 jobs (14%)

Sony cuts 10000 jobs

Credit Suisse could cut 5000 jobs

First Solar cuts 2000 jobs

French banks about to cut thousands of jobs

T-Mobile cuts 1900 jobs

Bank of America cuts 2000 jobs + 400 investment bank jobs

RBS and Lloyds cut 2000 jobs

Allied Irish Banks cuts 2500 jobs

IBM cuts 1790 jobs

Nokia cuts 4000 jobs

American Airlines cuts 13000 jobs

Astrazeneca cuts 7300 jobs

USPS cuts 35000 jobs

PepsiCo cuts 8700 jobs

P&G cuts 5700 jobs

Kraft cuts 1600 jobs

RBS cuts 4800 jobs

Novartis cuts 1960 jobs

NEC cuts 10000 jobs

Comments

Post a Comment

Popular posts from this blog

Sibanye-Stillwater

Image
Platinum, palladium and rhodium have all been moving higher and I expect them to go higher as China is loading more palladium and rhodium in their vehicles. China vehicle sales have rebounded as well. Both palladium and rhodium are in deficit. Platinum is going to be used in 3-way catalysts , which will boost platinum prices. Sibanye-Stillwater expects platinum to reach $2000 per ounce in 2025. Sibanye-Stillwater has exposure to all of these metals. SBSW's production numbers were very good. SBSW's EBITDA was $922 million in Q3 2020. This translates to $3.7 billion EBITDA per year. With a 5 multiple, SBSW should be valued at $18 billion market cap. So there is 50% upside. The company has no net debt. Net earnings were $1 billion per year in 2020, but is expected to rise 66% on higher rhodium/platinum prices and higher production numbers. Earnings per share are expected to be at $3.52 per share, which gives Sibanye-Stillwater a P/E of 4.8 which is very cheap. On top of thi...
Read more

The Consequences of Brexit

On June 24th, 2016, Britain voted to leave the EU. The immediate reaction was an 8% plunge in the Nikkei, financials dropped between 10-30%, negative bond yields went even more negative and gold surged 8%. George Soros predicted that we would have a 20% drop in pound and he was right. These are large moves and this is my take on what investors should be doing next. Read further here .
Read more