Fairfax and Kenworth the latest to cut jobs

Trucking giant Kenworth has announced it will slash 80 jobs from its Melbourne factory. According to the Australian Manufacturing Workers Union, the company has cut 380 contractors since last year. And this morning, media group Fairfax Media has announced

The list of companies slashing jobs gets longer by the day.

Trucking giant Kenworth has announced it will slash 80 jobs from its Melbourne factory as high petrol prices, interest rates and the slowing economy smash the company’s sales. According to the Australian Manufacturing Workers Union, the company has cut 380 contractors since last year.

And this morning, media group Fairfax Media has announced it will cut 5% of its workforce, or 550 staff, as part of a “business improvement” program designed to save the company $50 million a year.

Fairfax chief executive David Kirk claimed the cuts were designed to prepare the company for the next stage of its growth and development.

“Media companies fit for the modern media world need to be lean and agile,” he said in a statement.

Fairfax and Kenworth join Ford Australia, Cadbury, Starbucks Australia and Boeing Australia as companies who have recently slashed jobs as the economy slows.

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