Factbox: European companies cut jobs as economy sputters

Husqvarna AB

05/11/2024 13:12

(Adds Santander, Michelin, Schaeffler, Auchan, Husqvarna,
Mondi, Syensqo)
       Nov 5 (Reuters) - Difficult economic conditions and
persistently weak demand for many products have forced companies
across Europe to freeze hiring or cut jobs.
    Here are some of the layoffs announced since the start of
August:
    
    BANKS
* DNB  DNB.OL : The Norwegian lender said in September it would
cut the equivalent of 500 full-time jobs over the next six
months, as it prepares for lower interest rates and tougher
competition ahead.
* SANTANDER  SAN.MC : The Spanish bank said in October it would
cut more than 1,400 jobs in its British business.
* UniCredit  CRDI.MI : The Italian bank has signed an agreement
with labour unions that included 1,000 voluntary redundancies
and 500 new jobs, Italy's banking union Fabi said on Oct. 17.
    
    CAR AND CAR PART MAKERS
* MICHELIN  MICP.PA : The French tyre maker will shut down two
sites in Western France, affecting about 1,250 jobs, it said on
Nov. 5.
* SCHAEFFLER  SHA0.DE : The German machine and car parts maker,
hit by weak demand from auto and industrial clients, said on
Nov. 5 it planned to cut 4,700 jobs, with around 2,800 of them
in Germany and the rest elsewhere in Europe.
    
    INDUSTRIALS AND ENGINEERING
* NORTHVOLT: The Swedish battery maker said in September it
planned to layoff 1,600 employees in Sweden, including 1,000
positions at its Northvolt Ett factory in Skelleftea.

    RETAIL AND CONSUMER GOODS
* AUCHAN: The French supermarket group said on Nov. 5 it planned
to cut more than 2,000 jobs amid falling traffic in its stores.
* HUSQVARNA  HUSQb.ST : The Swedish garden equipment maker said
in October it would cut around 400 jobs, hit by constrained
consumer spending.

    TELECOMS
* TELIA  TELIA.ST : The Swedish telecom operator is looking to
cut around 3,000 jobs in 2024, it said in September.

    OTHERS
* AIRBUS  AIR.PA : The aerospace group said on Oct. 16 it would
cut up to 2,500 jobs in its Defence and Space division by
mid-2026.
* INFINEON  IFXGn.DE : The German chipmaker will cut 1,400 jobs
worldwide and relocate further 1,400 positions to countries with
lower labour costs, its CEO said in August.
* MONDI  MNDI.L : The British packaging maker said in October it
would shut down a paper mill in Bulgaria after it was damaged by
a fire, affecting around 300 positions.
* SHELL  SHEL.L : The energy giant plans to scale back its oil
and gas exploration and development workforce by 20%, company
sources told Reuters in August. In Europe, the cuts are focused
in the Netherlands and Britain, they said. A Shell spokesman
would not comment on the reduction figures.
* SYENSQO  SYENS.BR : The Belgian chemicals maker said on Nov. 5
it would cut 300-350 jobs primarily in France, the U.S., Belgium
and Italy.
* TAMEDIA  TXGN : The Swiss media firm said in August it would
close two printing works and lay off almost 300 staff.
* UPM  UPM.HE : The Finnish forestry group may cut up to 110
jobs in its Fibres Finland business, it said on Oct. 8. In
August, it announced mill closures in Germany, affecting 338
jobs, and the closing of its biocomposites business, affecting
59 jobs in Finland and Germany.
* YARA  YAR.OL : The Norwegian fertiliser maker said on Oct. 15
that planned production changes at its Tertre plant in Belgium,
including the closing of its ammonia unit, could result in a
dismissal of around 115 workers.

    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)
 ((agata.rybska@thomsonreuters.com))