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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: The German automaker will cut 2,000 jobs on top of the 1,900 already announced, and will enter negotiations with unions in the second half of 2025 over further cuts, it said on March 12.
* RENAULT: 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: The carmaker said on April 3 it would temporarily lay off 900 workers at five U.S. facilities after the Trump administration announced tariffs.
On April 2, the Fiom union said Stellantis had signed a deal with trade unions for 350 job cuts in its plants in southern Italy as part of its long-term production plan.
* VOLKSWAGEN: The German carmaker plans to lay off 1,600 staff, accounting for almost 30% of the workforce at its Cariad software unit by the end of 2025, Germany’s Handelsblatt newspaper reported on March 11, citing company sources.
Audi, which belongs to Volkswagen, said on March 18 it would cut up to 7,500 jobs in Germany by 2029 in areas like administration and development.
* VOLVO: The Swedish car and truck maker plans 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: Germany’s largest bank will cut the headcount of its retail bank by almost 2,000 people in 2025, with a “significant” reduction in the number of branches, its CEO said on March 19.
* SANTANDER UK: The British arm of Spain’s Banco Santander said on March 19 that fresh branch closures in Britain meant around 750 staff could lose their jobs.
* UBS: 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: 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.
* THYSSENKRUPP: 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
* 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: The world’s largest packaged food company said on March 20 it would divest two factories in Germany, impacting about 225 jobs, citing overcapacity due to rising costs and consumer price sensitivity.
* PUMA: The German sportswear maker will cut 500 jobs worldwide as part of a cost-reduction programme, it said on March 12.
Others
* BIONTECH: 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: 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: 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.
Source: Regulatory filings, Reuters articles and company websites
($1 = 0.8696 euros)
(Compiled by Agata Rybska, Boleslaw Lasocki, Bernadette Hogg in Gdansk; Edited by David Evans, Susan Fenton and Milla Nissi)
