Word is Coles are announcing 500 redundancies on Monday!
Buyers are not exempt and Wesfarmers are not happy with the buying performance. Buyers have reacted by not accepting price rises and pushing more terms for less activity.
Tim
This post was written by Tim on December 11, 2008
ANZ released its’ monthly Job Survey data yesterday and it was very grim reading. The last two months have shown falls of 5.9% in October and 8.6% last month. This two month period is the biggest fall in the index since its inception over 30 years ago.
Warren Hogan, ANZ head of Australian economics, made this astute observation;
“The latest job advertisements data suggests the global financial crisis has had a substantial impact on the Australian economy in the December quarter”
The redundancies continue to roll in with ANZ playing its part yesterday, giving 2 weeks notice to middle managers, analysts and researchers not required on the merger of Institutional and Corporate Depts.
FMCG announcements have been few and far between at this stage, with the agency/advertising area taking the brunt of it at the moment.
All the best.
Tim
This post was written by Tim on December 9, 2008
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