Retrenchments in Australia are being felt predominately in American owned companies with the marketing and advertising industries being more vulnerable to staff freezes, job losses and budget reviews.
Cost pressures are building across the sector due to a tighter advertising market. (Sinclair, SMH, 2008)
Major global and domestic job losses so far include 50,000 global job losses by Citibank, 800 job losses by Telstra and 7000 domestic job losses by American Express. On the flip side ‘research is an area that is flourishing as clients try to find out what consumers are thinking and wanting to spend money on.’ (Sinclair, SMH, 2008)
It’s not all doom and gloom though, there are still jobs out there to be had! Why not check out admin jobs or trade services jobs.