Factbox: European companies cut jobs as economy sputters
31/08/2023 12:08
(Updates SSAB and UBS; adds Kojamo and Nolato)
Aug 31 (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 April:
AUTOS
* AUTOLIV ALIVsdb.ST : the Swedish airbag and seatbelt maker
said on June 8 it plans to cut around 8,000 jobs.
* CONTINENTAL CONG.DE : the automotive parts supplier plans to
phase out business activities at its Gifhorn plant by the end of
2027, initially affecting 450 out of 900 jobs at the site, it
said in May.
* STELLANTIS STLAM.MI : the carmaker said on June 28 it plans
to close its mechanical gearbox plant in Austria, impacting 300
jobs.
* VOLVO CAR VOLCARb.ST : the automaker on May 4 announced 1,300
additional layoffs in Sweden, 6% of its workforce in the
country.
FOOD, RETAIL AND CONSUMER GOODS
* ANHEUSER-BUSCH INBEV ABI.BR : the Dutch brewer will lay off
hundreds of corporate staff in the U.S., CNN reported on July
27.
* CARREFOUR CARR.PA : the French retailer said on June 26 it
could cut up to 979 jobs in France on voluntary basis.
* HALEON HLN.L : the Sensodyne toothpaste-maker is looking to
cut hundreds of jobs in Britain and worldwide, the Guardian
reported on July 13.
INDUSTRIALS AND ENGINEERING
* MARSHALLS MSLH.L : the British building and roofing products
supplier said on July 31 it plans to cut 250 jobs.
* NOLATO NOLAB.ST : the Swedish manufacturer of polymer product
systems said in August it would lay off up to 500 employees in
China.
* SSAB SSABa.ST : the Swedish steel maker said on Aug. 11 it
would furlough workers at two plants in Finland. Negotiations
with unions covered about 800 employees and the exact number of
layoffs will depend on demand and local circumstances, it said.
* VARTA VAR1.DE : the German battery maker said on June 30 it
would cut 88 jobs through a volunteer programme.
TECH
* BT BT.L : Britain's biggest broadband provider said in May it
would reduce its total workforce by up to 55,000 jobs by 2030.
* DORMAKABA DOKA.S : the Swiss security group said on July 3 it
expects to reduce its full-time equivalent positions by around
800.
* NOKIA NOKIA.HE : the Finnish telecom equipment maker said on
May 3 it plans to cut up to 208 jobs in Finland.
* VIRGIN MEDIA: the British mobile operator is planning to lay
off 2,000 employees, the Telegraph reported on July 24.
* VODAFONE VOD.L : the British telecoms group on June 15
reached an agreement with unions over 1,003 job cuts in Italy
and 11,000 jobs globally over three years.
OTHER
* AIR LIQUIDE AIRP.PA : the industrial gases firm on July 5
said it might reduce its French workforce by 430 net positions.
* DEUTSCHE BANK DBKGn.DE : the German bank is drawing up plans
to cut 10% of its 17,000 German retail jobs in the next few
years, a person with knowledge of the matter said on June 23.
The bank had in April said it would cut 800 jobs over the next
few years.
* EVONIK EVKn.DE : the speciality chemicals producer said on
April 3 it would cut 200 jobs.
* KOJAMO KOJAMO.HE : the Finnish real estate firm in August
launched a savings plan that will lead to temporary lay-offs of
up to 70 employees and termination of employment of up to 20
people.
* PROSIEBENSAT PSMGn.DE : the German media group said on July
18 it would cut 400 full-time jobs.
* STANDARD CHARTERED STAN.L : the British bank is laying off
employees in its London, Singapore and Hong Kong offices and the
total reduction could be more than 100 positions, Bloomberg News
reported on June 7.
* STORA ENSO STERV.HE : the Finnish forestry firm said on June
15 it will cut 1,150 jobs.
* UBS UBSG.S : the biggest Swiss bank said on Aug. 31 it would
axe 3,000 jobs in Switzerland following its takeover of Credit
Suisse.
* UPM-KYMMENE UPM.HE : the Finnish forestry firm said on July
25 it planned to close its Plattling mill in Germany, putting
401 jobs at risk.
* VIAPLAY VPLAYb.ST : the Swedish media group on July 20
announced job cuts affecting more than a fourth of its staff.
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 Jason Neely and Milla Nissi)
((agata.rybska@thomsonreuters.com))