FAST FACTS: European companies cut jobs as economy sputters


This is AI generated summarization, which may have errors. For context, always refer to the full article.

FAST FACTS: European companies cut jobs as economy sputters

BASF. German Chancellor Olaf Scholz stands next to Martin Brudermueller, chairman of the board of executive directors of BASF SE, during a visit to the company in Schwarzheide, Germany, November 1, 2022.

Lisi Niesner/Pool/Reuters

(1st UPDATE) Here are some of the European companies that have announced layoffs since December 2022

Decades-high inflation and the impact of the war in Ukraine have forced companies across Europe into layoffs or hiring freezes.

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


MICHELIN: The tire maker said in December it planned to cut up to 1,600 jobs in France, fewer than the 2,300 estimated in its initial voluntary redundancy plan as it seeks to safeguard production.

STELLANTIS: The carmaker agreed with unions in February to cut up to 2,000 workers from its Italian operations through voluntary redundancies.

VOLVO: The Swedish group said in March it would restructure its European bus-making operation, leading to a reduction of 1,600 jobs.

Industrials and engineering

BRITISH STEEL: The Chinese-owned company said on February 22 it could cut up to 260 jobs after announcing the planned closure of its coke ovens in northern England.

KONE: The Finnish elevator maker said on January 26 it would reduce headcount by 1,000, including 150 in Finland.

Food, general retailers, and consumer goods

AHOLD DELHAIZE: The Dutch supermarket company said on December 8 it planned to cut around 300 jobs at its online subsidiary Bol.com as part of a restructuring campaign.

CLAS OHLSON: The Swedish hardware store chain said in December it would cut about 85 full-time jobs among other measures to deliver cost savings and reduced depreciation.

DELIVEROO: The British meal delivery company said on February 9 it would cut around 9% of its workforce, or 350 roles.

ICA GRUPPEN: The Swedish retailer said in December it would cut about 200 jobs due to rising costs, inflation, and decreases in disposable income to save some 1 billion crowns annually.

SAINSBURY’S: The British supermarket group plans to consolidate five existing Sainsbury’s and Argos general merchandise depots into three, closing two by 2026, in a move that will impact 1,400 workers, it said on February 28.

ZALANDO: The German online fashion retailer said on February 21 it would cut hundreds of jobs across the company, citing overexpansion in some areas and a more difficult economic environment.


ERICSSON: The telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said.

LOGITECH: The maker of keyboards, webcams, and other computer accessories is laying off about 300 people in a global reorganization, Bloomberg News reported on March 22.

PHILIPS: The Dutch medical equipment maker on January 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines.

SAP: The German software company said on January 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business.

TELECOM ITALIA: The group is seeking to cut as many as 2,000 jobs in Italy through a voluntary early retirement scheme, sources told Reuters in March.

VODAFONE: The British telecoms giant said on March 13 it plans to shed 1,000 jobs in Italy – almost a fifth of its total workforce in the country.


BASF: The German chemicals maker said on February 24 it would cut 2,600 jobs to improve competitiveness as it warned of a further decline in earnings due to rising costs.

GRIFOLS: The Spanish pharmaceutical firm said on February 15 it would lay off around 2,300 employees, or 8.5% of its global workforce, amid a strategy overhaul aimed at reaching annual savings of around 400 million euros.

TAYLOR WIMPEY: The British housebuilder said on January 13 it was considering job cuts to keep a lid on costs, but did not specify the number of potential job cuts.

VISTRY GROUP: Hundreds of the British housebuilder’s employees may lose their jobs as the company cuts costs in the midst of a housing slump in Britain, Bloomberg News reported on March 3.

– Rappler.com

$1 = 10.4142 Swedish crowns
$1 = 0.9222 euros

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Download the Rappler App!