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European companies cut jobs as economy sputters
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Alfonzo
2024-09-11
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Sept 4 (Reuters) - Elevated levels of inflation and the impact of the war in Ukraine have forced companies across Europe to freeze hiring or cut jobs.
Here are some of the layoffs announced since the start of April:
BANKS
* TSB: The British bank owned by Spain's Sabadell is seeking 250 job cuts, its spokesperson and employee union said on May 8.
INDUSTRIALS AND ENGINEERING
* PKP CARGO: Poland's largest freight company plans to lay off 30% of staff, it said on July 3.
* THYSSENKRUPP: The German submarine-to-steel group said in April it would lay off 450 staff in materials trade division.
* UMICORE: The Belgian metal recycling group plans to cut 14% positions at its German automotive catalysts business by 2027, it said on June 19.
RETAIL AND CONSUMER GOODS
* CASINO: The French supermarket chain said in April it would cut 1,293-3,267 positions to improve its financial situation.
* DYSON: The vacuum cleaner manufacturer will cut about 1,000 jobs in Britain as part of global restructuring.
* UNILEVER: The consumer goods giant plans to cut a third of all office roles in Europe by the end of 2025.
TELECOMS
* TELIA: The Swedish telecom operator is looking to cut around 3,000 jobs in 2024, it said on Sept. 4.
* VODAFONE SPAIN: The former Vodafone unit that was recently acquired by Zegona Communications plans to cut up to 1,200 jobs, or just over a third of workforce, it said on June 12.
PHARMA
* BAYER: A top Bayer pharmaceutical executive said on June 26 the group would continue slashing managerial jobs this year as part of internal reorganization.
* INDIVIOR: The drugmaker said on July 9 it would cut about 130 jobs following the discontinuation of sales of its schizophrenia drug Perseris.
* NOVARTIS: The Swiss drugmaker will cut up to 680 jobs in its development organisation, 토토사이트 it said in April.
OTHERS
* BP: The oil company has cut more than a tenth of the workforce - over 100 jobs - in its EV charging business, company sources said in April. BP did not comment on the exact number of job cuts.
* DEUTSCHE BAHN: The German rail operator said on July 25 it planned to cut 30,000 jobs, or around 9% of staff.
* INFINEON: The German chipmaker will cut 1,400 jobs worldwide and relocate further 1,400 positions to countries with lower labour costs, its CEO said on Aug. 5.
* MANCHESTER UNITED: The English Premier League club is proposing to cut about 250 jobs as part of a club-wide redundancy programme, a source close to it said on July 3.
* SHELL: The energy giant plans to scale back its oil and gas exploration and development workforce by 20%, company sources told Reuters on Aug. 29. In Europe, the cuts are focused in the Netherlands and Britain, they said. A Shell spokesman would not comment on the reduction figures.
* SIEMENS GAMESA: Siemens Energy's wind turbine division plans to cut 4,100 jobs, or around 15% of workforce, the unit's CEO said in an internal letter to staff seen by Reuters on May 28.
* TAMEDIA: The Swiss media firm said on Aug. 29 it would close two printing works and lay off almost 300 staff in a fresh round of cost-saving measures.
* UPM: The Finnish forestry group said on Aug. 21 it would close a newsprint mill and shut down one fine paper machine in Germany, affecting 338 jobs. It will also close its biocomposites business by the end of 2024, affecting 59 jobs in Finland and Germany, it said on Aug. 26.
Source: Regulatory filings, Reuters articles and company websites (Compiled by Agata Rybska, Louise Breusch Rasmussen, Boleslaw Lasocki, Charlotte Eugenie Yvette Bawol, Olga Sawczuk in Gdansk and Radhika Anilkumar in Bengaluru; Edited by Shounak Dasgupta and Milla Nissi)
Here are some of the layoffs announced since the start of April:
BANKS
* TSB: The British bank owned by Spain's Sabadell is seeking 250 job cuts, its spokesperson and employee union said on May 8.
INDUSTRIALS AND ENGINEERING
* PKP CARGO: Poland's largest freight company plans to lay off 30% of staff, it said on July 3.
* THYSSENKRUPP: The German submarine-to-steel group said in April it would lay off 450 staff in materials trade division.
* UMICORE: The Belgian metal recycling group plans to cut 14% positions at its German automotive catalysts business by 2027, it said on June 19.
RETAIL AND CONSUMER GOODS
* CASINO: The French supermarket chain said in April it would cut 1,293-3,267 positions to improve its financial situation.
* DYSON: The vacuum cleaner manufacturer will cut about 1,000 jobs in Britain as part of global restructuring.
* UNILEVER: The consumer goods giant plans to cut a third of all office roles in Europe by the end of 2025.
TELECOMS
* TELIA: The Swedish telecom operator is looking to cut around 3,000 jobs in 2024, it said on Sept. 4.
* VODAFONE SPAIN: The former Vodafone unit that was recently acquired by Zegona Communications plans to cut up to 1,200 jobs, or just over a third of workforce, it said on June 12.
PHARMA
* BAYER: A top Bayer pharmaceutical executive said on June 26 the group would continue slashing managerial jobs this year as part of internal reorganization.
* INDIVIOR: The drugmaker said on July 9 it would cut about 130 jobs following the discontinuation of sales of its schizophrenia drug Perseris.
* NOVARTIS: The Swiss drugmaker will cut up to 680 jobs in its development organisation, 토토사이트 it said in April.
OTHERS
* BP: The oil company has cut more than a tenth of the workforce - over 100 jobs - in its EV charging business, company sources said in April. BP did not comment on the exact number of job cuts.
* DEUTSCHE BAHN: The German rail operator said on July 25 it planned to cut 30,000 jobs, or around 9% of staff.
* INFINEON: The German chipmaker will cut 1,400 jobs worldwide and relocate further 1,400 positions to countries with lower labour costs, its CEO said on Aug. 5.
* MANCHESTER UNITED: The English Premier League club is proposing to cut about 250 jobs as part of a club-wide redundancy programme, a source close to it said on July 3.
* SHELL: The energy giant plans to scale back its oil and gas exploration and development workforce by 20%, company sources told Reuters on Aug. 29. In Europe, the cuts are focused in the Netherlands and Britain, they said. A Shell spokesman would not comment on the reduction figures.
* SIEMENS GAMESA: Siemens Energy's wind turbine division plans to cut 4,100 jobs, or around 15% of workforce, the unit's CEO said in an internal letter to staff seen by Reuters on May 28.
* TAMEDIA: The Swiss media firm said on Aug. 29 it would close two printing works and lay off almost 300 staff in a fresh round of cost-saving measures.
* UPM: The Finnish forestry group said on Aug. 21 it would close a newsprint mill and shut down one fine paper machine in Germany, affecting 338 jobs. It will also close its biocomposites business by the end of 2024, affecting 59 jobs in Finland and Germany, it said on Aug. 26.
Source: Regulatory filings, Reuters articles and company websites (Compiled by Agata Rybska, Louise Breusch Rasmussen, Boleslaw Lasocki, Charlotte Eugenie Yvette Bawol, Olga Sawczuk in Gdansk and Radhika Anilkumar in Bengaluru; Edited by Shounak Dasgupta and Milla Nissi)