Factbox: European companies cut jobs

Autoliv

08/05/2026 11:50

Adds Autoliv, Continental, Renault, Commerzbank

May 8 (Reuters) - Several European companies are cutting jobs, with reasons ranging from U.S. tariffs and weak demand to the artificial intelligence shift.

Here are some of the announcements made so far in 2026:

SECTOR
COMPANY
JOB CUTS
% OF WORKFORCE
DATE
DETAILS
Automotive
Autoliv
2,200
3.4%
May 8
The shutdown of Autoliv's manufacturing operations in Turkey amid the automotive industry's global slowdown
Automotive
Continental
1,600
2.0%
May 7
Cost savings at the ContiTech business business which the company wants to sell this year
Automotive
Renault
2,400
2.4%
April 14
Reductions in Renault's global engineering staff by between 15% and 20% over the next two years
Banking
Commerzbank
3000
7.5%
May 8
A third round of layoffs in recent years as Commerzbank cut around 10,000 jobs earlier this decade
Consumer goods
Heineken HEIN.AS
6,000
around 6.9%
February 11
Jobs to be cut globally over next two years as strained consumer finances, bad weather and geopolitical tensions take their toll
Consumer goods
SEB SEBF.PA
up to 2,100
around 6.6%
February 25
Cuts are part of restructuring plan aimed at saving 200 million euros ($232 million) by end-2027
Semiconductors
AMS Osram AMS2.VI
around 2,000
around 10.5%
February 10
Jobs to be cut under cost-cutting plan, roughly half of cuts expected in Europe
Semiconductors
ASML ASML.AS
1,700
3.8%
January 28
Part of a broader plan to shed 3,000 management posts and hire engineers to focus on innovation
Shipping
DB Cargo
6,000
around 43%
February 19
Jobs to be cut by 2030 as part of restructuring aimed at returning to profit
Shipping
Kuehne+Nagel KNIN.S
more than 2,000
around 2.4%
March 3
Job cuts as part of a wider cost saving programme, up from the up to 1,500 cuts previously announced
Steel
ArcelorMittal MT.LU
more than 2,400
over 10% of workforce of subsidiary ArcelorMittal Kryvyi Rih
February 27
Two divisions of ArcelorMittal's Ukrainian subsidiary ArcelorMittal Kryvyi Rih closing due to a deepening energy crisis caused by Russia's attacks on the country's energy system
Technology
Ocado OCDO.L
1,000
less than 5%
February 26
Part of a drive to lower technology and support costs by 150 million pounds ($199.46 million) in its 2025/26 fiscal year
Telecommunications
Ericsson ERICb.ST
1,600
1.8%
January 15
Cuts in Sweden mark continuation of headcount reduction over past three years in an effort to maintain profitability
Telecommunications
Proximus PROX.BR
1,200
15%
February 27
Jobs to be cut by 2030 due to AI-related efficiency measures

Sources: Regulatory filings, Reuters reporting and company websites

($1 = 0.8621 euros)

($1 = 0.7520 pounds)

 (Compiled by Boleslaw Lasocki, Bernadette Hogg and Mireia Merino in Gdansk; Edited by Milla Nissi-Prussak and Matt Scuffham)

 ((boleslaw.lasocki@thomsonreuters.com))