# Factbox-European companies cut jobs as economy sputters Author: Pal sinha, Barnali Author URL: https://startupobserver.com/author/pal-sinha-barnali/ Published: 2024-07-15 Category: Headlines Category URL: https://startupobserver.com/category/headlines/ Meta Title: Europe Layoffs: Impact of War in Ukraine on Companies Meta Description: Discover the latest layoffs across Europe due to inflation and Ukraine war impact. Companies like TSB, METSO, and UNILEVER making significant cuts. URL: https://startupobserver.com/factbox-european-companies-cut-jobs-as-economy-sputters-4/ ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsrmdo0032wirgrt84jr62/images/2024-07-09t141041z1lynxmpek680k4rtroptp4britain-economy-1-1737045622762-compressed.webp) (Reuters) – Elevated levels of inflation and the impact of the war in Ukraine have forced companies across Europe to freeze hiring or [cut](https://startupobserver.com/factbox-european-companies-cut-jobs-as-economy-sputters-2/) jobs. Here are some layoffs 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](https://startupobserver.com/uks-britvic-rejects-revised-takeover-proposal-from-carlsberg/) 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. \\* PKP Cargo: Poland’s largest freight company said on July 3 it plans to lay off up to about 30% of its employees. 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](https://startupobserver.com/italy-april-jobless-rate-falls-to-6-9-lowest-since-2008/) 8 it would close 15 stores in Britain, leading to a loss of nearly 250 jobs. \\* UNILEVER: The consumer goods giant plans to cut a third of all office roles in Europe by the end of 2025, according to details of a company-wide call. 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. \\* DYSON: The vacuum cleaner manufacturer will cut about 1,000 jobs in Britain as part of a global restructuring. PHARMA \\* INDIVIOR: The drugmaker said on July 9 it would [cut](https://startupobserver.com/factbox-european-companies-cut-jobs-as-economy-sputters-2/) about 130 jobs following the discontinuation of sales of its schizophrenia drug Perseris. \\* BAYER: A top Bayer pharmaceutical executive said on June 26 the [group](https://startupobserver.com/uks-britvic-rejects-revised-takeover-proposal-from-carlsberg/) would continue slashing managerial jobs this year, planning cuts in Germany, Japan, Britain, Belgium and the Netherlands as part of the company’s internal reorganization. \\* CUREVAC: The Germany-based pharmaceutical company said on July 3 it would lay off about 30% of its workforce as a part of its restructuring. \\* NOVARTIS: The Swiss drugmaker is to cut up to 680 jobs in its development organisation, it said on April 9. OTHERS \\* MANCHESTER UNITED: 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. \\* 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](https://startupobserver.com/italy-april-jobless-rate-falls-to-6-9-lowest-since-2008/) 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. \\* 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](https://startupobserver.com/factbox-european-companies-cut-jobs-as-economy-sputters-2/) 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 articles and company websites (Compiled by Agata Rybska, Louise Breusch Rasmussen, Boleslaw Lasocki, Laura Lenkiewicz and Victor Goury-Laffont in Gdansk and Radhika Anilkumar in Bengaluru; Edited by Shounak Dasgupta and Milla Nissi) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---