Factbox: European companies cut jobs as economy sputters
19/12/2024 13:21
(Updates with Bosch and Novartis, adjusts cut-off period to
beginning of October)
Dec 19 (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
October:
BANKS
* 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: Staff reduction schemes at the world's biggest car
parts supplier have put 8,000-10,000 jobs at risk in Germany,
its deputy supervisory board chairman said on Dec. 11. One of
those plans is for 3,500 job cuts in its cross-domain computer
solutions division by end-2027, half of which will be in
Germany.
* 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.
* VALEO VLOF.PA : The French car parts supplier plans to cut
around 1,000 jobs in Europe, including the closure of two sites
in France, sources told Reuters on Nov. 27.
INDUSTRIALS AND ENGINEERING
* 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.
OTHERS
* AIRBUS AIR.PA : The French aerospace group said on Dec. 5 it
would cut just over 2,000 jobs in its Defence and Space
business, fewer than the initially announced 2,500.
* 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.
* NOVARTIS NOVN.S : The Swiss drugmaker is closing German
biotech firm MorphoSys, acquired at the start of 2024, German
news outlet WirtschaftsWoche reported on Dec. 19, saying 330
jobs would be affected.
* 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 said on Nov. 27 it
would close a plant in Kaltenkirchen, Germany, affecting 154
jobs, its latest in a string of closures this year. In October,
it said it may cut up to 110 jobs in the Fibres Finland unit.
* 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))