Factbox: European companies cut jobs as economy sputters
02/08/2023 09:18
(Adds AB InBev and Marshalls; shortens to include news since
April)
Aug 2 (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.
* SSAB SSABa.ST : the Swedish steel maker said on June 16 it
has started furlough talks concerning 850 of its 4,700 employees
in Finland.
* 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 specialty chemicals producer said on
April 3 it would cut 200 jobs.
* 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 Swiss bank unveiled a raft of management
changes in its global wealth management business on July 6,
affecting roughly 180 former Credit Suisse executives. Credit
Suisse is also set to cut more than 40 jobs in one of its China
units, two people with direct knowledge of the matter said on
July 19.
* 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))