Wave of Layoffs from European Companies Amid Economic Slowdown

The labor market in Europe faces challenges due to low demand and Donald Trump's tariff policies. European companies are announcing job cuts in response to the economic slowdown.

Automotive Industry:

• Bosch: Cuts of up to 1,100 jobs by 2029.
• Daimler Truck: 2,000 jobs in the US and Mexico, in addition to 5,000 in Germany.
• Stellantis: Workforce reduction of 2,500 by 2025 in Italy.
• Volkswagen: Staff reduction of approximately 7,000 in Germany.
• Volvo: Up to 800 layoffs in US factories and 3,000 jobs worldwide.

Banks:

• Commerzbank: Cut of approximately 3,900 jobs by 2028.
• HSBC: Reduction of 348 jobs in France.
• Lloyds: Considering layoffs of approximately 1,500 people.
• UBS: Layoffs of 180 employees in Italy.

Energy:

• OMV: Plans to lay off 2,000 employees.
• Uniper: Layoffs of 400 employees.

Industry:

• STMicroelectronics: 5,000 departures expected in the next three years.
• Syensqo: Elimination of approximately 200 jobs.

European governments are pushing for negotiations with the US and considering support measures.