Factbox-Europe Inc cuts jobs as economy sputters By Reuters

(Reuters) – Decades-high inflation and the impact of the Ukraine crisis have pressured companies across Europe to consider laying off people or put a freeze on hiring.

Following is a list of some of the companies that have announced layoffs to rein in costs:

COMPANIES COMMENTS

Air France France’s flagship carrier was in talks to shed nearly 300 ground-staff

positions through voluntary redundancies, newspaper Le Figaro reported In

June.

BASF German chemicals maker BASF announced a new savings programme which will

include an undisclosed number of job cuts.

Finnair Finnish airline is in talks to cut up to about 200 jobs globally in a move

to restore profitability shattered by the Russian airspace closure.

Getir Turkey’s Getir plans to cut 14% of its staff globally due to rising global

inflation and costs, a source with knowledge of the matter told Reuters.

Henkel AG (OTC:) & Co Germany’s Henkel, the company behind Schwarzkopf, will cut about 2,000

KGaA positions due to low demand of its shampoos and hair spray, as well as

rising costs and global supply chain issues.

Klarna Swedish Klarna is slashing 10% of its 7,000-strong workforce as a

consequence of a recent steep increase in inflation, fear of a recession

and the war in Ukraine worsening business sentiment.

Monte dei Paschi Italian state-owned bank Monte dei Paschi di Siena agreed in August with

di Siena unions to shed thousands of jobs, as it works towards commitments to cut

costs. The deal will see 3,500 Monte dei Paschi employees who are within

seven years of their pension age leave by Nov. 30 through a generous early

retirement scheme.

Siemens Gamesa Spanish wind turbine maker Siemens Gamesa plans to cut 2,900 jobs, mostly

in Europe, as part of a plan to return to profitability.

Stellantis Automaker Stellantis has indefinitely laid off an unspecified number of

employees at its stamping plant in Michigan to mitigate impacts from

various supply chain issues.

Valmet Oyj Valmet said in May it was in negotiations for temporary layoffs of up to

three months, with about 340 employees part of the talks at its valve

factory in Helsinki due to reduced orders caused by the war in Ukraine and

COVID-19 restrictions in China.

Source: Regulatory filings, Reuters stories, company websites