{"id":28226,"date":"2026-02-11T15:53:41","date_gmt":"2026-02-11T15:53:41","guid":{"rendered":"https:\/\/tezgyan.com\/index.php\/2026\/02\/11\/trump-tariffs-are-killing-european-jobs-list-of-companies-that-have-announced-massive-layoffs-economy-news\/"},"modified":"2026-02-11T15:53:41","modified_gmt":"2026-02-11T15:53:41","slug":"trump-tariffs-are-killing-european-jobs-list-of-companies-that-have-announced-massive-layoffs-economy-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2026\/02\/11\/trump-tariffs-are-killing-european-jobs-list-of-companies-that-have-announced-massive-layoffs-economy-news\/","title":{"rendered":"Trump Tariffs Are Killing European Jobs: List Of Companies That Have Announced Massive Layoffs | Economy News"},"content":{"rendered":"


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Europe Job Layoffs: Major firms including Bosch, Daimler Truck, Nestl\u00e9, and Ericsson announce layoffs due to weak demand, high costs and US tariffs.<\/h2>\n
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Europe Job Layoffs: As global trade tensions persist, more restructuring and job losses are expected.<\/p>\n<\/figure>\n<\/div>\n

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European companies across sectors announced large-scale layoffs and hiring freezes over the past year, citing weak demand, high costs and slowing global trade- pressures\u00a0 that have been worsened by US tariffs and prolonged geopolitical uncertainty.\u00a0From manufacturing and banking to energy, technology and consumer goods, export-heavy European firms are restructuring operations as margins shrink and growth stalls.<\/p>\n

Car And Auto Parts Makers<\/strong><\/p>\n

Europe\u2019s automobile and auto components sector has been among the hardest hit. Germany\u2019s Bosch said in September it would cut 13,000 jobs, citing weak demand and cost pressures. Tyre maker Continental plans to eliminate 1,500 additional roles at its ContiTech division, adding to 10,000 job cuts already announced as part of a broader restructuring. Daimler Truck confirmed it would cut 2,000 jobs across the US and Mexico, on top of 5,000 previously announced layoffs in Germany, while German truckmaker MAN plans to shed around 2,300 jobs over the next decade. French automaker Renault acknowledged cost-cutting measures after reports suggested up to 3,000 support roles could be cut, though the company has not confirmed final figures.<\/p>\n

Banks And Financial Services<\/strong><\/p>\n

Layoffs have also spread through Europe\u2019s banking sector. Britain\u2019s Lloyds Banking Group is considering the dismissal of around half of 3,000 employees as it looks to reduce costs. Dutch lender ABN Amro said it plans to cut 5,200 jobs by 2028, citing efficiency drives and market challenges.<\/p>\n

Energy<\/strong><\/p>\n

Austria\u2019s oil and gas group OMV plans to cut 2,000 positions, or roughly a twelfth of its global workforce, as energy firms struggle with volatile prices and weakening industrial demand.<\/p>\n

Semiconductors And Technology<\/strong><\/p>\n

In the semiconductor sector, Austria-based AMS Osram said its cost-cutting programme would affect around 2,000 employees, while Dutch chipmaking equipment giant ASML announced 1,700 job cuts as part of a wider restructuring of management roles to focus on innovation.<\/p>\n

Industrials And Engineering<\/strong><\/p>\n

Industrial groups have also moved to reduce headcount. Swiss construction chemicals maker Sika said it would cut up to 1,500 jobs, citing persistently weak markets. Germany\u2019s Thyssenkrupp has agreed with unions to cut or outsource around 11,000 jobs, nearly 40% of its steel division workforce, by 2030. Chemical firm Wacker Chemie plans to eliminate more than 1,500 jobs by 2026, blaming high energy costs and bureaucratic hurdles.<\/p>\n

Consumer Goods<\/strong><\/p>\n

Consumer-facing companies are not immune. British luxury brand Burberry announced plans to shed 1,700 jobs, while Dutch brewer Heineken said it would cut up to 6,000 roles globally over the next two years. Food giant Nestle confirmed 16,000 job cuts, nearly 6% of its workforce, as it reorganises operations.<\/p>\n

Airlines, Telecoms And Logistics<\/strong><\/p>\n

Job cuts have also been announced by Sweden\u2019s Ericsson, which will eliminate 1,600 roles in Sweden, and Germany\u2019s Lufthansa, which plans to cut 4,000 administrative jobs by 2030. Swiss logistics firm Kuehne+Nagel is targeting 1,500 job cuts, while Danish drugmaker Novo Nordisk plans to reduce its workforce by 9,000 jobs globally. Renewable energy group Orsted said it would cut around 2,000 jobs, about a quarter of its workforce, and Spain\u2019s Telef\u00f3nica is set to eliminate more than 4,500 jobs in Spain.<\/p>\n

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