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
BOSCH: The German home appliance manufacturer will cut 13,000 jobs, it said on September 25.
CONTINENTAL: The German tire maker plans to cut 1,500 additional jobs at its ContiTech rubber and plastics division, a works council source said on November 24, on top if the 10,000 job cuts announced group-wide in restructuring efforts.
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.
MAN: The German truckmaker plans to cut around 2,300 jobs over the next decade, a spokesperson said on November 20.
RENAULT: The French carmaker confirmed on October 4 it was planning cost cuts but said it had no figures to report yet, after a newsletter reported it would cut 3,000 jobs by year-end in support services at its headquarters and other locations worldwide.
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 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.
ABN AMRO: The Dutch bank plans to cut 5,200 jobs by 2028, it said on November 25.
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
SIKA: The Swiss industrial and construction chemicals maker said on October 24 it would cut up to 1,500 jobs in persistently weak markets such as China.
STMICROELECTRONICS: The French-Italian chipmaker’s CEO said on June 4 that 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, it said on May 14.
LVMH: The Financial Times reported on May 1 that the luxury group’s wine and spirits unit Moet Hennessy would cut its workforce by about 1,200 employees.
NESTLE: The group will cut 16,000 jobs, or 5.8% of its staff, it said on October 16.
OTHERS
JUST EAT TAKEAWAY : The food delivery company’s German unit Lieferando plans to cut 2,000 jobs from end-2025, the company said on July 17.
