Risk of Recession in the Euro Area
The euro area should find a mild recession in the first half of 2012 before a modest recovery in the second half of the year, However, the risk of a recession is more severe significant, estimated at 40% .
The Swiss economy, which slowed in the third quarter is also likely to dive in early next year, in a recession because of the global economic slowdown, analysts estimated Thursday. Figures released by the State Secretariat for Economic leave no illusion of the Confederation, which has so far been spared by the crisis of public debt in the euro area and the global economic downturn.
Helvetic growth, which relies on exports, has stalled in the third quarter, growth in gross domestic product and had only 0.2% compared to the previous quarter, against 0.5% in the second quarter. A way of comparison, economic growth has leveled off over the same period in the euro zone to 0.2% the previous quarter, according to data published in mid-November by the EU statistics office Eurostat.
If the numbers are in line with analysts' expectations, they demonstrate that Switzerland was affected by the deteriorating economic situation in neighboring countries. Exports of goods have fallen by 0.6% and exports of services by 2.7%, not only because of a decline in demand but also because of the strong Swiss franc.
Switzerland thus achieves its worst quarter since the second quarter of 2009, which the Confederation had emerged from a brief recession. Since the summer, Swiss companies in all sectors, have eliminated more than 10,000 posts on a AFP count.
Nokia Siemens Networks (NSN) announced to cut off 17,000 Jobs worldwide , which is the biggest ever figure in history of Nokia Siemens Networks .
HSBC wants to eliminate 672 jobs in France
The French subsidiary of British bank HSBC has indicated, Tuesday, July 5, willingness to eliminate 672 positions as part of its new strategic plan in 2014. HSBC France has, however, rely on voluntary departures, said the CEO, Christophe de Backer , during a press briefing.
The plan, which is a variation of one that was announced by the group in mid-May, should allow the establishment of "accelerate [its] income" and to "improve [its] efficiency" said M. de Backer.
The bank currently employs about 10,000 people in France. On job cuts, "we will rely on natural attrition, the retirement" and offer to eligible employees, close to retirement age, leave at retirement and solidarity, a detailed the Director General.
NO forced departure
According to the projections of the bank, the total of these three categories is potentially over three years, more than double the number of planned job cuts. There is no provision for forced departures. The French version of the strategic plan focuses on the development of wealth management customers, already one of the strengths of the bank in France, international openness offered to corporate clients, the bank market and the synergies between businesses.
This project should enable HSBC France to lower its operating ratio, currently 71%, at the French market average, between 62% and 64%. It should also lead the bank to achieve a return on equity between 12% and 15%, consistent with the objective of the group.
Retirement and public service: Calculation for civil servants
The part-time in public service came in phase seemed to be their last, but a new collective agreement put the new regulations set by 01.01.2010 retroactively. Those who date their retirement in the public sector have started this before, are not covered by the changes and they continue to apply the treaties and the calculation for civil servants , the entry into the retirement agreement were at her.
New regulations for retirement in the public service
The conditions of the new rules on retirement in the public service will now have two operational and four personal factors of: The first two are found in the areas of job cuts and restructuring as well as a quota system, the other state that workers older than 60 years must be before the beginning of 1080 have been busy years five calendar days are up to the moment the ratio in which one in the regular pension of changes, and the request is for three months before the commencement is filed.
The work amounts to half of the past and can block or in the system will be made part time. The salary in the calculation for civil servants is governed by the provisions for part-time employees in the first case, second, it is exactly half of the previous wage. The other half will be a credit balance paid in that release period, in installments, in the.
Calculation for officers to tables and collective agreement
Other points in the collective agreement on flexible work arrangements for older workers (TV FlexAZ) treat the holiday entitlement (no claim for the exemption from work, during the transitional phase, a twelfth of the annual leave), the secondary activities (not allowed), the extension of block period for sickness and the slippery slope by age flexible working hours.