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Factbox-European companies cut jobs as economy sputters

Published Nov 03, 2023 10:35 Updated Nov 03, 2023 10:40
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(Reuters) - The highest inflation for decades and the impact of war in Ukraine have forced companies across Europe into layoffs or hiring freezes.

Here are some of the companies that have announced cuts since April:

AUTOS

* AUTOLIV: the Swedish airbag and seatbelt maker said on June 8 it plans to cut around 8,000 jobs. On Oct. 30 it decided to lay-off 320 employees in France as part of the plan.

* CONTINENTAL: 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: the carmaker said on June 28 it plans to close its mechanical gearbox plant in Austria, impacting 300 jobs.

* VOLKSWAGEN: the German carmaker said on Oct. 27 it intends to cut 2,000 jobs at its troubled software unit Cariad as part of a restructuring plan.

* VOLVO CAR: 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: the brewer will lay off hundreds of corporate staff in the U.S., CNN reported on July 27.

* CARREFOUR: the French retailer said on June 26 it could cut up to 979 jobs in France on a voluntary basis.

* ELECTROLUX: the Swedish home appliances maker said on Oct. 27 actions aimed at stepping-up cost reductions and simplifying the organisation would affect 3,000 jobs.

* HALEON: the Sensodyne toothpaste-maker is looking to cut hundreds of jobs in Britain and worldwide, the Guardian reported on July 13.

* FISKARS: the Finnish gardening tools maker said on Sept. 13 it plans a reduction of some 400 jobs in a move to simplify its organisational structure.

* FORTE: the Polish furniture maker said on Nov. 3 it would lay off up to 230 employees, or about 10% of all staff.

* HUSQVARNA: the Swedish garden equipment and tools maker said on Oct. 20 it would cut about 300 positions, adding to the 1,000 job reduction plan announced in October 2022.

* WILCO: administrators of British homeware and household goods discount retailer plan to lay off over 1,300 people at the collapsed chain, PwC said on Sept 5.

INDUSTRIALS AND ENGINEERING

* MARSHALLS: the British building and roofing products supplier said on July 31 it plans to cut 250 jobs.

* NOLATO: the Swedish manufacturer of polymer product systems said in August it would lay off up to 500 employees in China.

* SSAB: the Swedish steel maker said it would furlough workers at two plants in Finland. Negotiations with unions covered about 800 employees and the exact number of layoffs will depend on demand and local circumstances, it said.

* VARTA: the German battery maker said on June 30 it would cut 88 jobs through a volunteer programme.

TECH

* BT (LON:BT): Britain's biggest broadband provider said in May it would reduce its total workforce by up to 55,000 jobs by 2030.

* IG GROUP: British online trading platform said on Oct. 31 it would cut 10% of its headcount as part of cost-saving measures.

* DORMAKABA: the Swiss security group said on July 3 it expects to reduce its full-time equivalent positions by around 800.

* NOKIA: the Finnish telecom gear group said on Oct. 19 it would cut up to 14,000 jobs as part of a new cost savings plan after its third quarter sales dropped 20%.

* VIRGIN MEDIA: the British mobile operator is planning to lay off 2,000 employees, the Telegraph reported on July 24.

* VODAFONE: 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

* A.P. MOELLER-MAERSK: the Danish shipping group said on Nov. 3 it would cut 10,000 jobs as it battles with lower freight rates and subdued demand for container shipping.

* AIR LIQUIDE: the industrial gases firm on July 5 said it might reduce its French workforce by 430 net positions.

* BNP PARIBAS: the Polish unit said on Oct. 16 it would lay off up to 900 people in 2024-2026.

* DEUTSCHE BANK: 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.

* EVONIK: the speciality chemicals producer said on April 3 it would cut 200 jobs.

* KPMG: the accounting firm said on Oct. 17 it planned to cut about 100 jobs in its deal advisory business in the UK.

* KOJAMO: the Finnish real estate firm in August launched a savings plan that will lead to temporary lay-offs of up to 70 employees and termination of employment of up to 20 people.

* NESTE: the Finnish oil refiner and biofuels producer said on Nov. 1 it plans to shed 400 jobs globally to prepare for increasing competition in renewable fuels.

* LANXESS (ETR:LXSG): the speciality chemicals maker said on Oct. 18 it planned to cut 870 jobs worldwide, citing weak business amid the deep crisis of the country's chemicals sector.

* PROSIEBENSAT: the German media group said on July 18 it would cut 400 full-time jobs.

* ROLLS-ROYCE: the British airplane engine maker said on Oct. 17 it would cut up to 2,500 jobs as its new CEO seeks to build a more efficient business.

* STANDARD CHARTERED: 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: the Finnish forestry firm said on June 15 it will cut 1,150 jobs.

* UBS: the biggest Swiss bank said on Aug. 31 it would axe 3,000 jobs in Switzerland following its takeover of Credit Suisse (SIX:CSGN).

* UPM-KYMMENE: the Finnish forestry firm said on July 25 it planned to close its Plattling mill in Germany, putting 401 jobs at risk.

* VIAPLAY: the Swedish media group on July 20 announced job cuts affecting more than a fourth of its staff.

* VISTRY: the homebuilder said on Oct. 23 it would cut 200 jobs, as it sharpens its focus on affordable housing.

Source: Regulatory filings, Reuters stories and company websites

($1 = 10.4142 Swedish crowns; $1 = 0.9222 euros)

Factbox-European companies cut jobs as economy sputters
 

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