European companies cut jobs as economy sputters
Adds Santander, Michelin, Schaeffler, Auchan, Husqvarna, Mondi, Syensqo
Nov 5 (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 start of August:
BANKS
* DNB DNB.OL: The Norwegian lender said in September it would cut the equivalent of 500 full-time jobs over the next six months, as it prepares for lower interest rates and tougher competition ahead.
* SANTANDER SAN.MC: The Spanish bank said in October it would cut more than 1,400 jobs in its British business.
* UniCredit CRDI.MI: The Italian bank has signed an agreement with labour unions that included 1,000 voluntary redundancies and 500 new jobs, Italy's banking union Fabi said on Oct. 17.
CAR AND CAR PART MAKERS
* MICHELIN MICP.PA: The French tyre maker will shut down two sites in Western France, affecting about 1,250 jobs, it said on Nov. 5.
* SCHAEFFLER SHA0.DE: The German machine and car parts maker, hit by weak demand from auto and industrial clients, said on Nov. 5 it planned to cut 4,700 jobs, with around 2,800 of them in Germany and the rest elsewhere in Europe.
INDUSTRIALS AND ENGINEERING
* NORTHVOLT: The Swedish battery maker said in September it planned to layoff 1,600 employees in Sweden, including 1,000 positions at its Northvolt Ett factory in Skelleftea.
RETAIL AND CONSUMER GOODS
* AUCHAN: The French supermarket group said on Nov. 5 it planned to cut more than 2,000 jobs amid falling traffic in its stores.
* HUSQVARNA HUSQb.ST: The Swedish garden equipment maker said in October it would cut around 400 jobs, hit by constrained consumer spending.
TELECOMS
* TELIA TELIA.ST: The Swedish telecom operator is looking to cut around 3,000 jobs in 2024, it said in September.
OTHERS
* AIRBUS AIR.PA: The aerospace group said on Oct. 16 it would cut up to 2,500 jobs in its Defence and Space division by mid-2026.
* 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 in August.
* MONDI MNDI.L: The British packaging maker said in October it would shut down a paper mill in Bulgaria after it was damaged by a fire, affecting around 300 positions.
* SHELL SHEL.L: The energy giant plans to scale back its oil and gas exploration and development workforce by 20%, company sources told Reuters in August. In Europe, the cuts are focused in the Netherlands and Britain, they said. A Shell spokesman would not comment on the reduction figures.
* SYENSQO SYENS.BR: The Belgian chemicals maker said on Nov. 5 it would cut 300-350 jobs primarily in France, the U.S., Belgium and Italy.
* TAMEDIA TXGN: The Swiss media firm said in August it would close two printing works and lay off almost 300 staff.
* UPM UPM.HE: The Finnish forestry group may cut up to 110 jobs in its Fibres Finland business, it said on Oct. 8. In August, it announced mill closures in Germany, affecting 338 jobs, and the closing of its biocomposites business, affecting 59 jobs in Finland and Germany.
* YARA YAR.OL: The Norwegian fertiliser maker said on Oct. 15 that planned production changes at its Tertre plant in Belgium, including the closing of its ammonia unit, could result in a dismissal of around 115 workers.
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)
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