Several European companies have frozen hiring or cut jobs this year, citing difficult economic conditions exacerbated by U.S. tariffs.
Here are some of the companies that announced layoffs:
CAR AND CAR PARTS MAKERS
* RENAULT:: The French carmaker confirmed it is planning cost cuts but said it has no figures to report yet, on Saturday after a newsletter reported it would cut 3,000 jobs by year-end in support services at its headquarters in the Paris suburb of Boulogne-Billancourt and other locations worldwide.
* BOSCH: The German home appliance manufacturer will cut 13,000 jobs as it battles sluggish demand, high costs and pressure from rivals, it said on September 25.
* DAIMLER TRUCK : The truckmaker confirmed media reports on August 1 that it would cut 2,000 jobs across its plants in the U.S. and Mexico, on top of the previously announced 5,000 job cuts in Germany.
* STELLANTIS : The automaker expanded its voluntary redundancy scheme for Italy, bringing the total planned workforce reduction to almost 2,500 in 2025, it said on June 10.
* VOLKSWAGEN : The company’s CFO said on April 30 it had cut headcount in Germany by around 7,000 since starting cost savings in late 2023.
* VOLVO CARS : The Swedish carmaker will cut 3,000 mostly white-collar jobs as part of a wider restructuring, it said on May 26.
BANKS
* COMMERZBANK : The German bank said on May 14 it had agreed with the works council on terms to cut around 3,900 jobs by 2028.
* LLOYDS : The British bank will consider the dismissal of around half of 3,000 staff to cut costs, a source familiar with the matter told Reuters on September 4.
ENERGY
* OMV : The Austrian oil and gas company plans to cut 2,000 positions, or a twelfth of its global workforce, the Kurier newspaper reported on September 4.
INDUSTRIALS AND ENGINEERING
* STMICROELECTRONICS : The French-Italian chipmaker’s CEO said on June 4 he expected 5,000 staff to leave the company in the next three years, including 2,800 job cuts announced in 2025.
CONSUMER GOODS
* BURBERRY : The British luxury brand will shed 1,700 jobs or around a fifth of its global workforce to cut costs, it said on May 14.
* LVMH : The Financial Times reported on May 1, citing an internal video, that the luxury group’s wine and spirits unit Moet Hennessy would cut its workforce by about 1,200 employees.
OTHERS
*JUST EAT TAKEAWAY : The food delivery company’s German unit Lieferando plans to cut 2,000 jobs from end-2025 to optimise the model of its delivery service, the company said on July 17.
* LUFTHANSA : The German airline group said on September 28 it would cut 4,000 administrative jobs by 2030.
* NOVO NORDISK : The Danish pharmaceutical company will cut 9,000 jobs globally, the company said on September 10.
Sources: Regulatory filings, Reuters reporting and company websites
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