Factbox: European companies cut jobs as economy sputters

Telia AB

17/10/2024 09:43

(Adds Airbus, UniCredit, Yara, and updates UPM; changes cut-off
period to the start of July)
       Oct 17 (Reuters) - Elevated levels of inflation and the
impact of the war in Ukraine have forced companies across Europe
to freeze hiring or cut jobs.
    Here are some of the layoffs announced since the start of
July:

    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.
* UniCredit  CRDI.MI : The Italian bank 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.

    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
* DYSON: The vacuum cleaner manufacturer said in July it would
cut about 1,000 jobs in Britain as part of global restructuring.
* UNILEVER  ULVR.L : The consumer goods giant plans to cut a
third of all office roles in Europe by the end of 2025, it said
in July.

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

    PHARMA
* INDIVIOR  INDV.L : The drugmaker said in July it would cut
about 130 jobs following the discontinuation of sales of its
schizophrenia drug Perseris.

    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.
* DEUTSCHE BAHN: The German rail operator said in July it
planned to cut 30,000 jobs, or around 9% of staff.
* 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.
* MANCHESTER UNITED  MANU.N : The English Premier League club is
proposing to cut about 250 jobs as part of a club-wide
redundancy programme, a source close to it said in July.
* PKP CARGO  PKPP.WA : Poland's largest freight company plans to
lay off 30% of staff, it said in July.
* 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.
* 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)
 ((mailto:agata.rybska@thomsonreuters.com))