European companies cut jobs as economy sputters

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Nov 3 - The highest inflation for decades and the impact of war in Ukraine have forced companies across Europe into layoffs or hiring freezes.AUTOS * AUTOLIV : the Swedish airbag and seatbelt maker said on June 8 it plans to cut around 8,000 jobs. On Oct. 30 it decided to lay-off 320 employees in France as part of the plan.

* VOLVO CAR : the automaker on May 4 announced 1,300 additional layoffs in Sweden, 6% of its workforce in the country. * HALEON : the Sensodyne toothpaste-maker is looking to cut hundreds of jobs in Britain and worldwide, the Guardian reported on July 13. * WILCO: administrators of British homeware and household goods discount retailer plan to lay off over 1,300 people at the collapsed chain, PwC said on Sept 5.

* VARTA : the German battery maker said on June 30 it would cut 88 jobs through a volunteer programme. * NOKIA : the Finnish telecom gear group said on Oct. 19 it would cut up to 14,000 jobs as part of a new cost savings plan after its third quarter sales dropped 20%. * AIR LIQUIDE : the industrial gases firm on July 5 said it might reduce its French workforce by 430 net positions.* DEUTSCHE BANK : the German bank is drawing up plans to cut 10% of its 17,000 German retail jobs in the next few years, a person with knowledge of the matter said on June 23.* KPMG : the accounting firm said on Oct. 17 it planned to cut about 100 jobs in its deal advisory business in the UK.

 

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