Factbox: European companies cut jobs as economy sputters
16/05/2023 09:34
(Adds Vodafone in tech section)
May 16 (Reuters) - Decades-high inflation and the impact
of war in Ukraine have forced companies across Europe into
lay-offs or hiring freezes.
Here are some of the companies that have announced cuts
since January:
AUTOS
* VOLVO VOLVb.ST : the Swedish group said in March it would
restructure its European bus-making operation, leading to a
reduction of 1,600 jobs.
* VOLVO CARS VOLCARb.ST : the automaker on May 4 announced
1,300 additional layoffs in Sweden, 6% of the company's
workforce in its homecountry.
* STELLANTIS STLA.MI : the carmaker agreed with unions in
February to cut up to 2,000 workers from its Italian operations
through voluntary redundancies.
FOOD, RETAIL AND CONSUMER GOODS
* DELIVEROO ROO.L : the British meal delivery company said on
Feb. 9 it would cut around 9% of its workforce, or 350 roles.
* FIELMANN FIEG.DE : the German glasses retailer said on March
3 it would slash hundreds of jobs by 2025.
* SAINSBURY'S SBRY.L : the British supermarket group plans to
consolidate five existing Sainsbury's and Argos general
merchandise depots into three, closing two by 2026, in a move
that will impact 1,400 workers, it said on Feb. 28.
* ZALANDO ZALG.DE : the German online fashion retailer said on
Feb. 21 it would cut hundreds of jobs across the company, citing
over-expansion in some areas and a more difficult economic
environment.
INDUSTRIALS AND ENGINEERING
* KONE KNEBV.HE : the Finnish elevator maker said on Jan. 26 it
would reduce headcount by 1,000, including 150 in Finland.
* BRITISH STEEL: the Chinese-owned company said on Feb. 22 it
could cut up to 260 jobs after announcing the planned closure of
its coke ovens in northern England.
TECH
* ERICSSON ERICb.ST : the telecom equipment maker will lay off
8,500 employees globally as part of its plan to cut costs, a
memo seen by Reuters said.
* LOGITECH LOGN.S : the maker of keyboards, webcams and other
computer accessories is laying off about 300 people in a global
reorganization, Bloomberg News reported on March 22.
* NOKIA NOKIA.HE : the Finnish telecom equipment maker said on
May 3 it plans to cut up to 208 jobs in Finland.
* PHILIPS PHG.AS : the Dutch medical equipment maker on Jan. 30
said it would cut 6,000 jobs to counter falling sales and after
a massive recall of its respiratory machines.
* SAP SAPG.DE : the German software company said on Jan. 26 it
planned to shed 3,000 jobs, 2.5% of its global workforce, to cut
costs and focus on its cloud business.
* TELECOM ITALIA TLIT.MI : the group is seeking to cut as many
as 2,000 jobs in Italy through a voluntary early retirement
scheme, sources told Reuters in March.
* VODAFONE VOD.L : the British telecoms giant said on May 16 it
would cut 11,000 jobs over three years as it forecast a 1.5
billion euro drop in 2023 free cash flow.
OTHER
* BASF BASFn.DE : the German chemicals maker said on Feb. 24 it
would cut 2,600 jobs to improve competitiveness as it warned of
a further decline in earnings due to rising costs.
* DEUTSCHE BANK DBKGn.DE : Germany's largest bank said on April
27 it would cut 800 jobs in an effort to reduce costs by an
additional 500 million euros over the next few years.
* EVONIK EVKn.DE : the German specialty chemicals producer said
on April 3 it would cut 200 jobs as part of restructuring of its
pet food unit.
* GRIFOLS GRLS.MC : the Spanish pharmaceutical firm said on
Feb. 15 it would lay off around 2,300 employees, or 8.5% of its
global workforce, amid a strategy overhaul aimed at reaching
annual savings of around 400 million euros.
* TAYLOR WIMPEY TW.L : the British housebuilder said on Jan. 13
it was considering job cuts to keep a lid on costs, but did not
specify the number of potential job cuts.
Source: Regulatory filings, Reuters stories and company websites
($1 = 10.4142 Swedish crowns; $1 = 0.9222 euros)
(Compiled by Agata Rybska, Louise Breusch Rasmussen, Boleslaw
Lasocki, Laura Lenkiewicz and Victor Goury-Laffont in Gdansk;
Editing by Elaine Hardcastle, Conor Humphries, Keith Weir and
Milla Nissi)
((agata.rybska@thomsonreuters.com))