European Firms Reduce Workforce Amid Economic Slowdown

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Oct 28 2025

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Source: Reuters

Job Cuts Across Europe: Several European companies, including Bosch, Daimler Truck, and Renault, have announced significant job cuts due to challenging economic conditions and pressures from U.S. tariffs.
Major Layoffs: Notable layoffs include Bosch cutting 13,000 jobs, Nestlé reducing its workforce by 16,000, and Novo Nordisk planning to eliminate 9,000 positions globally.
Sector-Specific Reductions: The automotive sector is heavily impacted, with companies like Stellantis and Volvo Cars implementing workforce reductions as part of restructuring efforts.
Financial Institutions and Other Industries: Banks like Commerzbank and Lloyds are also planning job cuts, alongside companies in various sectors such as oil, luxury goods, and food delivery, indicating a widespread trend of cost-cutting measures.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.