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Factbox-European companies cut jobs as economy sputters

Published Sep 13, 2023 07:17AM ET Updated Sep 13, 2023 07:36AM ET
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(Reuters) - The highest inflation for decades and the fallout from war in Ukraine have forced companies across Europe into layoffs or hiring freezes.

Here are some of the companies that have announced cuts since April:

AUTOS

* AUTOLIV: the Swedish airbag and seatbelt maker said on June 8 it plans to cut around 8,000 jobs.

* CONTINENTAL: the automotive parts supplier plans to phase out business activities at its Gifhorn plant by the end of 2027, initially affecting 450 out of 900 jobs at the site, it said in May.

* STELLANTIS: the carmaker said on June 28 it plans to close its mechanical gearbox plant in Austria, impacting 300 jobs.

* VOLVO CAR: the automaker on May 4 announced 1,300 additional layoffs in Sweden, 6% of its workforce in the country.

FOOD, RETAIL AND CONSUMER GOODS

* ANHEUSER-BUSCH INBEV: the Dutch brewer will lay off hundreds of corporate staff in the U.S., CNN reported on July 27.

* CARREFOUR: the French retailer said on June 26 it could cut up to 979 jobs in France on voluntary basis.

* HALEON: the Sensodyne toothpaste-maker is looking to cut hundreds of jobs in Britain and worldwide, the Guardian reported on July 13.

* FISKARS: the Finnish gardening tools maker said on Sept. 13 it plans a reduction of some 400 jobs in a move to simplify its organiSational structure.

* WILCO: administrators of British homeware and household goods discount retailer plan to lay off over 1,300 people at the collapsed chain, PwC said on Sept 5.

INDUSTRIALS AND ENGINEERING

* MARSHALLS: the British building and roofing products supplier said on July 31 it plans to cut 250 jobs.

* NOLATO: the Swedish manufacturer of polymer product systems said in August it would lay off up to 500 employees in China.

* SSAB: the Swedish steel maker said on Aug. 11 it would furlough workers at two plants in Finland. Negotiations with unions covered about 800 employees and the exact number of layoffs will depend on demand and local circumstances, it said.

* VARTA: the German battery maker said on June 30 it would cut 88 jobs through a volunteer programme.

TECH

* BT: Britain's biggest broadband provider said in May it would reduce its total workforce by up to 55,000 jobs by 2030.

* DORMAKABA: the Swiss security group said on July 3 it expects to reduce its full-time equivalent positions by around 800.

* NOKIA: the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland.

* VIRGIN MEDIA: the British mobile operator is planning to lay off 2,000 employees, the Telegraph reported on July 24.

* VODAFONE: the British telecoms group on June 15 reached an agreement with unions over 1,003 job cuts in Italy and 11,000 jobs globally over three years.

OTHER

* AIR LIQUIDE: the industrial gases firm on July 5 said it might reduce its French workforce by 430 net positions.

* DEUTSCHE BANK: the German bank is drawing up plans to cut 10% of its 17,000 German retail jobs in the next few years, a person with knowledge of the matter said on June 23. The bank had in April said it would cut 800 jobs over the next few years.

* EVONIK: the speciality chemicals producer said on April 3 it would cut 200 jobs.

* KOJAMO: the Finnish real estate firm in August launched a savings plan that will lead to temporary lay-offs of up to 70 employees and termination of employment of up to 20 people.

* PROSIEBENSAT: the German media group said on July 18 it would cut 400 full-time jobs.

* STANDARD CHARTERED: the British bank is laying off employees in its London, Singapore and Hong Kong offices and the total reduction could be more than 100 positions, Bloomberg News reported on June 7.

* STORA ENSO: the Finnish forestry firm said on June 15 it will cut 1,150 jobs.

* UBS: the biggest Swiss bank said on Aug. 31 it would axe 3,000 jobs in Switzerland following its takeover of Credit Suisse.

* UPM-KYMMENE: the Finnish forestry firm said on July 25 it planned to close its Plattling mill in Germany, putting 401 jobs at risk.

* VIAPLAY: the Swedish media group on July 20 announced job cuts affecting more than a fourth of its staff.

Source: Regulatory filings, Reuters stories and company websites

($1 = 10.4142 Swedish crowns; $1 = 0.9222 euros)

Factbox-European companies cut jobs as economy sputters
 

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