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European companies cut jobs as economy sputters
Here are some of the layoffs announced since the start of April
The Casino hypermarket chain plans to cut between 1,293 and 3,267 positions to improve its financial situation. — AFP File
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
METSO: The Finnish mining equipment maker said on May 6 it plans to restructure its minerals equipments business, leading it to cut about 240 positions globally.
PKP CARGO: Poland's largest freight company plans to lay off 30 per cent of staff, it said on July 3.
THYSSENKRUPP: The German submarine-to-steel group said on April 24 it would lay off 450 staff in materials trade division.
UMICORE: The Belgian metal recycling group pans to cut 14 per cent positions at its German automotive catalysts business by 2027, it said on June 19.
RETAIL AND CONSUMER GOODS
CASINO: The French supermarket chain said on April 24 it would cut between 1,293 and 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.
HALEON: The British consumer healthcare company said on April 30 it would close its UK manufacturing site over the next two years, impacting 435 jobs.
TED BAKER: The retailer said on April 8 it would close 15 stores in Britain, leading to a loss of nearly 250 jobs.
UNILEVER: The consumer goods giant plans to cut a third of all office roles in Europe by the end of 2025.
TELECOMS
TELENOR: The telecom group said on April 3 its Norwegian unit would lay off around 100 employees and cut down on temporary staff.
VODAFONE SPAIN: A 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 its internal reorganization.
CUREVAC: The Germany-based pharmaceutical firm said on July 3 it would lay off about 30 per cent of workforce as part of restructuring.
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, it said on April 9.
OTHERS
BASF: The German chemicals company said on April 11 it was considering layoffs at its Harjavalta site in Finland.
BOUYGUES IMMOBILIER: The real estate arm of Bouygues will cut 225 jobs at its property development unit in France, it said on April 8.
BP: The oil company has cut more than a tenth of the workforce — over 100 jobs — in its EV charging business, company sources said on April 15. BP did not comment on the exact number of job cuts.
DEUTSCHE BAHN: The German rail operator said on July 25 it plans to cut 30,000 jobs, or around nine per cent 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.
INTRUM: The Swedish debt collector said on April 24 its cost-cutting measures would include a reduction of "several hundred" staff.
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 the company told Reuters on July 3.
SCHIBSTED: The Norwegian classified ads group will cut around 250 jobs in the Nordic region, it said on June 18.
SIEMENS GAMESA: Siemens Energy's wind turbine division plans to cut 4,100 jobs, or around 15 per cent of workforce, the unit's CEO said in an internal letter on May 28.
UPM-KYMMENE: The Finnish forestry group said on May 29 it would close a newsprint mill and a fine paper machine in Germany, affecting 345 jobs.
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