Job cuts to slice through Europe

Job cuts in 2023 have surpassed 116,000 as Europe battles decades-high inflation, price volatility in commodities and increasing automation


TECHNOLOGY 
88,374

BT* 		55,000 
Vodafone 	11,000 
Ericsson 	8,500 
Philips 	6,000 
SAP 		3,000
Grifols 	2,300 
Telecom Italia 	2,000 
Logitech 	300 
Nokia 		208 
Fielmann 	66


AUTO INDUSTRY
16,700 

Autoliv		8,000
Ford 		3,800
Stellantis 	2,000
Volvo Buses 	1,600
Volvo Cars	1,300
    

CHEMICALS 
2,800 

BASF 		2,600
Evonik 		200


FOOD, RETAIL 
4,300
Just Eat 	1,700 
Sainsbury’s 	1,400 
Zalando 	850 
Deliveroo 	350


INDUSTRIAL, CONSTRUCTION
2,560

KONE 		1,000
SSAB		850
Taylor Wimpey 	450
British Steel	260


BANKS
900

Deutsche Bank 	800
Standard Chartered 100


PAPER 
1,150

Stora Enso


*By 2030


Sources: Eurostat, McKinsey Global Institute, Reuters
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