Factbox: European companies cut jobs as economy sputters
23/03/2023 13:00
(Updates throughout)
March 23 (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 December:
AUTOS
* MICHELIN MICP.PA : the tyre maker said in December it planned
to cut up to 1,600 jobs in France, fewer than the 2,300
estimated in its initial voluntary redundancy plan as it seeks
to safeguard production.
* STELLANTIS STLA.MI : the carmaker agreed with unions in
February to cut up to 2,000 workers from its Italian operations
through voluntary redundancies.
* 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.
INDUSTRIALS AND ENGINEERING
* 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.
* KONE KNEBV.HE : the Finnish elevator maker said on Jan. 26 it
would reduce headcount by 1,000, including 150 in Finland.
FOOD, GENERAL RETAILERS AND CONSUMER GOODS
* AHOLD DELHAIZE AD.AS : the Dutch supermarket company said on
Dec. 8 it planned to cut around 300 jobs at its online
subsidiary Bol.com as part of a restructuring campaign.
* CLAS OHLSON CLASb.ST : the Swedish hardware store chain said
in December it would cut about 85 full-time jobs amongst other
measures to deliver cost savings and reduced depreciation.
* DELIVEROO: the British meal delivery company said on Feb. 9 it
would cut around 9% of its workforce, or 350 roles.
* ICA GRUPPEN: the Swedish retailer said in December it would
cut about 200 jobs due to rising costs, inflation and decreases
in disposable income to save some 1 billion crowns annually.
* 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.
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.
* 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 March 13
it plans to shed 1,000 jobs in Italy - almost a fifth of its
total workforce in the country.
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.
* 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.
* VISTRY GROUP PLC VTVY.L : hundreds of the British
housebuilder's employees may lose their jobs as the company cuts
costs in the midst of a housing slump in Britain, Bloomberg News
reported on March 3.
Source: Regulatory filings, Reuters stories and company websites
($1 = 10.4142 Swedish crowns)
($1 = 0.9222 euros)
(Compiled by Agata Rybska, Louise Breusch Rasmussen and
Boleslaw Lasocki in Gdansk; Editing by Milla Nissi and Elaine
Hardcastle)
((agata.rybska@thomsonreuters.com))