European companies cut jobs as economy sputters
Adds Deutsche Bahn and Infineon
Aug 5 (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 April:
BANKS
* TSB: The British bank owned by Spain's Sabadell SABE.MC is seeking 250 job cuts, its spokesperson and employee union said on May 8.
INDUSTRIALS AND ENGINEERING
* METSO METSO.HE: The Finnish mining equipment maker said on May 6 it plans to restructure its minerals equipments business, leading it to cut about 240 positions globally.
* PKP CARGO PKPP.WA: Poland's largest freight company plans to lay off 30% of staff, it said on July 3.
* THYSSENKRUPP TKAG.DE: The German submarine-to-steel group said on April 24 it would lay off 450 staff in materials trade division.
* UMICORE UMI.BR: The Belgian metal recycling group pans to cut 14% positions at its German automotive catalysts business by 2027, it said on June 19.
RETAIL AND CONSUMER GOODS
* CASINO CASP.PA: The French supermarket chain said on April 24 it would cut between 1,293 and 3,267 positions to improve its financial situation.
* DYSON: The vacuum cleaner manufacturer will cut about 1,000 jobs in Britain as part of global restructuring.
* HALEON HLN.L: The British consumer healthcare company said on April 30 it would close its UK manufacturing site over the next two years, impacting 435 jobs.
* TED BAKER: The retailer said on April 8 it would close 15 stores in Britain, leading to a loss of nearly 250 jobs.
* UNILEVER ULVR.L: The consumer goods giant plans to cut a third of all office roles in Europe by the end of 2025.
TELECOMS
* TELENOR TEL.OL: The telecom group said on April 3 its Norwegian unit would lay off around 100 employees and cut down on temporary staff.
* VODAFONE SPAIN: A former Vodafone VOD.L unit that was recently acquired by Zegona Communications ZEG.L plans to cut up to 1,200 jobs, or just over a third of workforce, it said on June 12.
PHARMA
* BAYER BAYGn.DE: A top Bayer pharmaceutical executive said on June 26 the group would continue slashing managerial jobs this year as part of its internal reorganization.
* CUREVAC 5CV.DE: The Germany-based pharmaceutical firm said on July 3 it would lay off about 30% of workforce as part of restructuring.
* INDIVIOR INDV.L: The drugmaker said on July 9 it would cut about 130 jobs following the discontinuation of sales of its schizophrenia drug Perseris.
* NOVARTIS NOVN.S: The Swiss drugmaker will cut up to 680 jobs in its development organisation, it said on April 9.
OTHERS
* BASF BASFn.DE: The German chemicals company said on April 11 it was considering layoffs at its Harjavalta site in Finland.
* BOUYGUES IMMOBILIER: The real estate arm of Bouygues BOUY.PA will cut 225 jobs at its property development unit in France, it said on April 8.
* BP BP.L: The oil company has cut more than a tenth of the workforce - over 100 jobs - in its EV charging business, company sources said on April 15. BP did not comment on the exact number of job cuts.
* DEUTSCHE BAHN: The German rail operator said on July 25 it plans 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 on Aug. 5.
* INTRUM INTRUM.ST: The Swedish debt collector said on April 24 its cost-cutting measures would include a reduction of "several hundred" staff.
* 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 the company told Reuters on July 3.
* SCHIBSTED SCHA.OL: The Norwegian classified ads group will cut around 250 jobs in the Nordic region, it said on June 18.
* SIEMENS GAMESA: Siemens Energy's ENR1n.DE wind turbine division plans to cut 4,100 jobs, or around 15% of workforce, the unit's CEO said in an internal letter to staff seen by Reuters on May 28.
* UPM-KYMMENE UPM.HE: The Finnish forestry group said on May 29 it would close a newsprint mill and a fine paper machine in Germany, affecting 345 jobs.
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)
</body></html>Relaterade tillgångar
Senaste nytt
Ansvarsfriskrivning: XM Group-enheter tillhandahåller sin tjänst enbart för exekvering och tillgången till vår onlinehandelsplattform, som innebär att en person kan se och/eller använda tillgängligt innehåll på eller via webbplatsen, påverkar eller utökar inte detta, vilket inte heller varit avsikten. Denna tillgång och användning omfattas alltid av i) villkor, ii) riskvarningar och iii) fullständig ansvarsfriskrivning. Detta innehåll tillhandahålls därför uteslutande som allmän information. Var framför allt medveten om att innehållet på vår onlinehandelsplattform varken utgör en uppmaning eller ett erbjudande om att ingå några transaktioner på de finansiella marknaderna. Handel på alla finansiella marknader involverar en betydande risk för ditt kapital.
Allt material som publiceras på denna sida är enbart avsett för utbildnings- eller informationssyften och innehåller inte – och ska inte heller anses innehålla – rådgivning och rekommendationer om finansiella frågor, investeringsskatt eller handel, dokumentation av våra handelskurser eller ett erbjudande om, eller en uppmaning till, en transaktion i finansiella instrument eller oönskade finansiella erbjudanden som är riktade till dig.
Tredjepartsinnehåll, liksom innehåll framtaget av XM såsom synpunkter, nyheter, forskningsrön, analyser, kurser, andra uppgifter eller länkar till tredjepartssajter som återfinns på denna webbplats, tillhandahålls i befintligt skick, som allmän marknadskommentar, och utgör ingen investeringsrådgivning. I den mån som något innehåll tolkas som investeringsforskning måste det noteras och accepteras att innehållet varken har varit avsett som oberoende investeringsforskning eller har utarbetats i enlighet med de rättsliga kraven för att främja ett sådant syfte, och därför är att betrakta som marknadskommunikation enligt tillämpliga lagar och föreskrifter. Se till så att du har läst och förstått vårt meddelande om icke-oberoende investeringsforskning och riskvarning om ovannämnda information, som finns här.
