May 2 (Reuters) – Difficult economic conditions and persistently weak demand for many products have forced companies across Europe to freeze hiring or cut jobs.
Here are some of the layoffs announced since the beginning of March:
CAR AND CAR PARTS MAKERS
* PORSCHE P911_p.DE: The German automaker will cut 2,000 jobs on top of the 1,900 already announced, and will negotiate with unions further cuts in the second half of the year, it said on March 12.
* RENAULT RENA.PA: The French carmaker said on March 11 it would cut 300 jobs at its van factory in Sandouville in response to slowing demand for commercial vehicles in Europe.
*STELLANTIS STLAM.MI: The group said on April 3 it would temporarily lay off 900 workers at five U.S. facilities in response to the Trump administration’s tariff announcement.
On April 2, the Fiom union said Stellantis had agreed with trade unions 350 job cuts at its plants in southern Italy as part of its long-term production plan.
* VOLKSWAGEN VOWG_p.DE: The German carmaker’s CFO said on April 30 it had cut headcount in Germany by around 7,000 since starting cost savings in late 2023.
Audi, which belongs to Volkswagen, said on March 18 it would cut up to 7,500 jobs in Germany by 2029 in areas, such as administration and development.
* VOLVO VOLVb.ST: The Swedish truck maker planned to lay off as many as 800 workers at three U.S. facilities over the next three months due to tariff-driven market uncertainty and demand concerns, a spokesperson said on April 18.
BANKS
* DEUTSCHE BANK DBKGn.DE: Germany’s largest bank will cut its retail bank’s workforce by almost 2,000 people in 2025, with a “significant” reduction in the number of branches, its CEO said on March 19.
* SANTANDER UK SANS_pa.L: The British arm of Spain’s Banco Santander SAN.MC said on March 19 that fresh branch closures in Britain meant around 750 staff could lose their jobs.
* UBS UBSG.S: Switzerland’s largest bank informed unions in Italy on April 1 of plans to cut 180 jobs in the country, around a third of the total, documents reviewed by Reuters showed.
INDUSTRIALS AND ENGINEERING
* SIEMENS SIEGn.DE: The German engineering group said on March 18 it would cut 5,600 jobs at its Digital Industries business as it adapts to weak market conditions in Germany and China.
* STMICRO SMPA.PA: The French-Italian chipmaker said on April 30 it would cut around 1,000 jobs in France, more than a third of the 2,800 layoffs planned in its cost-cutting program.
* THYSSENKRUPP TKAG.DE: The German conglomerate plans to cut around 1,800 jobs due to the prolonged weakness in the car sector it supplies, it said on March 6.
RETAIL AND CONSUMER GOODS
*LVMH LVMH.PA: Financial Times reported on May 1, citing an internal video, that the French luxury group’s wine and spirit unit Moet Hennessy would cut its workforce by about 1,200 employees.
* MORRISONS: The British supermarket said on March 24 that about 365 employees could lose their jobs as part of a reduction of store operations aimed at offsetting what it called “significant cost increases”.
* NESTLE NESN.S: The world’s largest packaged food company said on March 20 it would divest two factories in Germany, impacting about 225 jobs, citing overcapacity.
* PUMA PUMG.DE: The German sportswear maker will cut 500 jobs worldwide as part of a cost-reduction programme, it said on March 12.
OTHERS
* BIONTECH 22UAy.DE: The German COVID-19 vaccine maker said on March 10 it planned to cut between 950 and 1,350 full-time positions by 2027, including at its late-stage mRNA manufacturing site in Marburg, Germany and at research operations in Europe and North America.
* DHL DHLn.DE: The German logistics group announced on March 6 plans to cut about 8,000 jobs in Germany to save more than 1 billion euros ($1.15 billion).
* UPM UPM.HE: The Finnish forestry company said on March 11 it would permanently close a paper mill in Germany and implement cost-cutting measures that will impact 462 jobs, citing a changing market and overcapacity.
Sources: Regulatory filings, Reuters reporting and company websites
($1 = 0.8696 euros)
(Compiled by Boleslaw Lasocki and Bernadette Hogg in Gdansk; Edited by Milla Nissi and Tomasz Janowski)
