Factbox-European companies cut jobs as economy sputters

 

(Reuters) – Persistently high inflation and the impact of the war in Ukraine have forced companies across Europe into layoffs or hiring freezes.

Here are some cuts announced since the start of April:

BANKS

* TSB: the British bank owned by Spain’s Sabadell is seeking 250 job cuts and 36 branch closures, its spokesperson and employee union said on May 8.

INDUSTRIALS AND ENGINEERING

* METSO: 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.

* THYSSENKRUPP: the German submarine-to-steel group said on April 24 it would lay off 450 staff in materials trade division Schulte.

* UMICORE: the Belgian metal recycling group is planning a 14% reduction in positions by 2027 at its German automotive catalysts business, it said on June 19.

RETAIL AND CONSUMER GOODS

* CASINO: the French supermarket chain said on April 24 it would cut between 1,293 and 3,267 positions to improve its financial situation.

* HALEON: 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.

TECH

* TELENOR: the telecoms group said on April 3 that its Norwegian unit would lay off around 100 employees and cut down on temporary staff.

* VODAFONE SPAIN: A former Vodafone unit that was recently acquired by Zegona Communications plans to cut up to 1,200 jobs, or just over a third of its workforce, it said on June 12.

OTHER

* BASF: 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 will cut 225 jobs at its property development unit in France, it said on April 8.

* BP: 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.

* INTRUM: the Swedish debt collector said on April 24 that its cost-cutting measures would include a reduction of “several hundred” staff.

* NOVARTIS: the Swiss drugmaker is to cut up to 680 jobs in its development organisation, it said on April 9.

* SCHIBSTED: the Norwegian classified ads group will cut around 250 jobs in the Nordic region, it said on June 18.

* SIEMENS GAMESA: Siemens Energy’s wind turbine division plans to cut 4,100 jobs, or around 15% of its workforce, the unit’s CEO said in an internal letter to staff seen by Reuters on May 28.

* UPM-KYMMENE: 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 stories and company websites

(Compiled by Agata Rybska, Louise Breusch Rasmussen, Boleslaw Lasocki, Laura Lenkiewicz and Victor Goury-Laffont in Gdansk; editing by Milla Nissi)

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