The highest inflation for decades and the impact of the war in Ukraine have forced companies across Europe into layoffs or hiring freezes.
Here are some cuts announced since December:
Autos
Bosch: the automotive supplier on January 18 said it would cut 1,200 jobs in its software development division by end-2026. On February 23 it added it would cut 3,500 jobs in its home appliance division, BSH Hausgeraete. It also plans to cut up to 1,500 jobs at two German sites by 2025, it said in December.
Continental: the automotive parts supplier on February 14 flagged it would reduce research and development staffing in its automotive group sector by 1,750 jobs by the end of 2025, having already flagged thousands of job cuts in its automotive unit in November.
Forvia: the French car parts maker said on February 19 it would cut up to 10,000 jobs in Europe by 2028 mainly through natural attrition and drastically reduced hiring.
Polestar: The Volvo Car and Geely-backed EV maker said on January 26 it would cut around 450 jobs globally, or about 15 per cent of workforce.
Stellantis: the carmaker said in January it would temporarily lay off 2,500 workers in Italy and cut 600 interim jobs at its Mulhouse plant in eastern France.
Banks
Banco BPM: the Italian bank on Dec. 12 said it would lay off 1,600 employees, while pledging to hire 800 young people.
BNP Paribas Bank Polska: the Polish bank in December agreed with unions on layoffs of up to 800 employees in 2024-2026.
Deutsche Bank: the German bank on February 1 said it would cut 3,500 back office jobs, just under 4 per cent of workforce.
Lloyds: Britain's biggest domestic bank is cutting around 1,600 roles across its branches, it said on January 25.
Societe Generale: the French bank said on February 5 it would cut about 900 jobs at its Paris headquarters through voluntary departures.
Industrial and engineering
Sandvik: the Swedish mining equipment maker said on January 25 it plans to cut around 1,100 jobs.
Tata Steel: the Dutch division of the Indian steel maker said on January 19 it would close two blast furnaces in Britain by end-2024, cutting up to 2,800 jobs, a second layoff announcement since Nov. 13.
Valmet: is in negotiations to lay off around 130 personnel, it said on February 15.
Retail and consumer goods
Barry Callebaut: the Swiss chocolate maker told media on February 26 it is preparing to cut around 2,500 jobs.
H&M: the Swedish fashion retailer plans to close down more than a fifth of its stores and lay off as many as 588 workers in Spain, unions said on January 26.
Sainsbury: Britain's second-biggest grocer said on February 29 it plans to cut about 1,500 roles.
Tech
SAP: the German software company said onJanuary 24 it would restructure 8,000 jobs in a push towards AI.
Telefonica: the telecom operator on January 3 reached a deal with unions to lay off up to 3,421 employees in Spain by 2026.
Other
Bayer: the German drugmaker said on January 17 it had agreed with shop stewards on significant reduction in managerial jobs by end-2025 without specifying a number.
Delivery Hero: the takeaway food company said on December 18 it would close tech hubs in Turkey and Taiwan and adjust headcount at its Berlin headquarters without specifying numbers. It cut the workforce of its headquarters and global service roles by around 13 per cent in 2023.
Evonik: the chemicals group announced on March 4 up to 2,000 job cuts worldwide by 2026.
Kuehne+Nagel: the Swiss logistics group said on March 1 it is laying off less than 2 per cent of its staff and is currently on a hiring freeze.
Roche: the Swiss drugs company said on Feb 9 it is cutting jobs, but less than the 345 jobs reported by the local website Muula.
Shell: the oil major has begun cutting jobs beyond the previously announced 15 per cent reduction in its low-carbon division, Bloomberg News reported on Dec. 21.
Stora Enso: the Finnish forestry firm said on February 1 it could lay off around 1,000 employees in 2024.
Sky: the British media group, owned by US-based Comcast CMCSA.O, is to cut 1,000 jobs in 2024, sources familiar with the matter said on January 30.
Universal Music Group: the record label said on January 12 it will lay off some employees in 2024 without specifying a number.
Worldline: the French digital payments company will cut its workforce by around 8 per cent globally, it said on February 7.