- The highest inflation for decades and the impact of the war in Ukraine have forced companies across Europe into layoffs or hiring freezes.* BOSCH: the automotive supplier on Jan. 18 said it would cut 1,200 jobs in its software development division by end-2026. On Feb. 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 Feb.
* VOLVO: the Swedish truck maker plans to cut 250 jobs at its Tuve plant in Gothenburg, local daily reported on March 12, citing a company spokesperson.* BANCO BPM: the Italian bank on Dec. 12 said it would lay off 1,600 employees, while pledging to hire 800 young people. * LLOYDS: Britain's biggest domestic bank is cutting around 1,600 roles across its branches, it said on Jan. 25.
* SAP: the German software company said on Jan. 24 it would restructure 8,000 jobs in a push towards AI. * KUEHNE+NAGEL: the Swiss logistics group said on March 1 it is laying off less than 2% of its staff and is currently on a hiring freeze.