Factbox: European companies cut jobs as economy sputters
27/11/2024 12:49
(Updates Schaeffler, adds entries on Stellantis, Thyssenkrupp
and Idorsia)
Nov 27 (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
September:
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 PARTS MAKERS
* BOSCH: The world's biggest car parts supplier is planning to
cut 3,500 jobs by end-2027 in its cross-domain computer
solutions division, it said on Nov. 22.
* 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. As part of these measures,
it will close two plants in Austria and Britain, it said on Nov.
27.
* STELLANTIS STLAM.MI : The Milan-listed automaker said on Nov.
26 it planned to shut its Vauxhall van factory in southern
England, putting more than 1,000 jobs at risk.
INDUSTRIALS AND ENGINEERING
* NORTHVOLT: The Swedish battery maker said in September it
planned to lay off 1,600 employees in Sweden.
* THYSSENKRUPP TKAG.DE : The German conglomerate's steel-making
division said on Nov. 25 it planned to cut 5,000 jobs by 2030
and an additional 6,000 jobs through spin-offs or divestitures.
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.
* EQUINOR EQNR.OL : The Norwegian oil, gas and renewable energy
producer is cutting 20% of the staff from its renewable energy
division, it told Reuters on Nov. 21.
* IDORSIA IDIA.S : The Swiss pharmaceutical company said on
Nov. 27 it would shed up to 270 jobs as part of its
restructuring efforts.
* LUFTHANSA LHAG.DE : The German flag carrier aims to gradually
reduce jobs in administration by 20%, the Manager Magazin
reported on Nov. 14.
* 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.
* SMA SOLAR S92G.DE : The German solar power parts supplier
said on Nov. 13 it planned to cut up to 1,100 jobs worldwide.
* 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.
* UPM UPM.HE : The Finnish forestry group may cut up to 110
jobs in its Fibres Finland business, it said on Oct. 8.
* 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,
Bernadette Hogg in Gdansk and Radhika Anilkumar in Bengaluru;
Edited by Shounak Dasgupta and Milla Nissi)
((mailto:agata.rybska@thomsonreuters.com))