Factbox: European companies cut jobs as economy sputters

CureVac NV

09/07/2024 15:09

(Adds details on fresh job cuts)
       July 9 (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 layoffs announced since the start of April:
    
    BANKS
    * TSB: The British bank owned by Spain's Sabadell  SABE.MC 
is seeking 250 job cuts and 36 branch closures, its spokesperson
 and employee union said on May 8.
    
    INDUSTRIALS AND ENGINEERING
    * METSO  METSO.HE : 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.
    * THYSSENKRUPP  TKAG.DE : The German submarine-to-steel
group said on April 24 it would lay off 450 staff in materials
trade division Schulte.
    * UMICORE  UMI.BR : The Belgian metal recycling group is
planning a 14% reduction in positions by 2027 at its German
automotive catalysts business, it said on June 19.
    * PKP Cargo  PKPP.WA : Poland's largest freight company said
on July 3 it plans to lay off up to about 30% of its employees.
    
    RETAIL AND CONSUMER GOODS
    * CASINO  CASP.PA : The French supermarket chain said on
April 24 it would cut between 1,293 and 3,267 positions to
improve its financial situation.
    * HALEON  HLN.L : 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.
    
    TECH
    * TELENOR  TEL.OL : The telecoms group said on April 3 that
its Norwegian unit would lay off around 100 employees and cut
down on temporary staff.
    * VODAFONE SPAIN: A former Vodafone  VOD.L  unit that was
recently acquired by Zegona Communications  ZEG.L  plans to cut
up to 1,200 jobs, or just over a third of its workforce, it said
on June 12.
    * DYSON: The vacuum cleaner manufacturer will cut about
1,000 jobs in Britain as part of a global restructuring.
    
    PHARMA
    * INDIVIOR  INDV.L : The drugmaker said on July 9 it would
cut about 130 jobs following the discontinuation of sales of its
schizophrenia drug Perseris.
    * BAYER  BAYGn.DE : A top Bayer pharmaceutical executive
said on June 26 the group will continue slashing managerial jobs
this year, planning cuts in Germany, Japan, the United Kingdom,
Belgium and the Netherlands as part of the company's internal
reorganization.
    * CUREVAC  5CV.DE : Germany-based pharmaceutical company
said on July 3 it would lay off about 30% of its workforce as a
part of its restructuring.
    
    OTHERS
    * MANCHESTER UNITED  MANU.N : 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.
    * BASF  BASFn.DE : 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
 BOUY.PA  will cut 225 jobs at its property development unit in
France, it said on April 8.
    * BP  BP.L : 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.
    * INTRUM  INTRUM.ST : The Swedish debt collector said on
April 24 that its cost-cutting measures would include a
reduction of "several hundred" staff.
    * NOVARTIS  NOVN.S : The Swiss drugmaker is to cut up to 680
jobs in its development organisation, it said on April 9.
    * SCHIBSTED  SCHA.OL : The Norwegian classified ads group
will cut around 250 jobs in the Nordic region, it said on June
18.
    * SIEMENS GAMESA: Siemens Energy's  ENR1n.DE  wind turbine
division plans to cut 4,100 jobs, or around 15% of its
workforce, the unit's CEO said in an internal letter to staff
seen by Reuters on May 28.
    * UPM-KYMMENE  UPM.HE : The Finnish forestry group said on
May 29 it would close a newsprint mill and a fine paper machine
in Germany, affecting 345 jobs.
    
    Source: Regulatory filings, Reuters articles and company
websites

 (Compiled by Agata Rybska, Louise Breusch Rasmussen, Boleslaw
Lasocki, Laura Lenkiewicz and Victor Goury-Laffont in Gdansk and
Radhika Anilkumar in Bengaluru; Edited by Milla Nissi and
Shounak Dasgupta)
 ((agata.rybska@thomsonreuters.com))