Biontech stops Covid vaccine production in Germany
German biotech company Biontech has announced it will cease the production of Covid-19 vaccines in Germany and close down most of its domestic production sites.
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Popular articles tagged "job cuts"
Lufthansa cancels 20,000 flights over fuel price hikes and strikes
Germany’s flagship carrier Lufthansa is set to cut 20,000 flights in the coming months to save on jet fuel and deal with additional costs from airline staff strikes.
‘Build Chinese cars in Volkswagen plants,’ says Lower Saxony’s PM
The Minister-President of Lower Saxony has suggested that Volkswagen should consider allowing Chinese manufacturers to produce vehicles in underutilised German plants…
Losses for German automotive supplier ZF double to €2.1bn after electrification failure
German technology group ZF Friedrichshafen has reported a net loss after tax of €2.1 billion for fiscal 2025, almost doubling the €1.
Volkswagen Group to cut 50,000 jobs in Germany as profits tumble
Europe’s biggest carmaker, Volkswagen Group, has presented dismal 2025 annual results.
Volkswagen mulls plant closures and drastic cuts to stop losing money
Volkswagen is facing its most severe restructuring since the 2015 "Dieselgate" scandal as CEO Oliver Blume proposes a €60 billion cost-slashing programme and refuses…
Dutch giant Heineken to cut up to 6,000 jobs on falling demand, despite solid profits
Dutch brewing giant Heineken has announced plans to eliminate between 5,000 and 6,000 jobs globally over the next two years.
French court liquidates appliance giant Brandt, 700 jobs to go
The French court pulled the plug on Brandt, the century-old appliance maker once seen as a pillar of national industry.
Dutch bank ABN Amro to cut 5,200 jobs by 2028 in AI-driven overhaul
ABN Amro, the State-backed Dutch lender, has unveiled plans to slash 5,200 full-time positions – nearly a quarter of its workforce – by 2028.
Two in five German industrial companies plan job cuts in 2026
Sentiment in Germany’s industrial sector is at rock bottom with more than 40 per cent of companies planning to reduce their workforce in the coming year.
Nestle says to cut 16,000 jobs worldwide over next two years
Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, will eliminate 16,000 jobs worldwide over the next two years, its new chief…
Stellantis cut 10,000 jobs in Italy, amid broader factory shutdowns
Automaker Stellantis has cut 10,000 jobs in Italy over the last four years, continuing a wave of workforce reductions in industries across the European economy.
Industrial giant Bosch shocks Germany with plans to cut 13,000 jobs
The Bosch group, one of Germany’s leading industrial players, has announced a far-reaching job cut programme.
Ford to slash 1,000 jobs in Cologne due to weak electric car demand
Ford Motor Company has announced plans to cut 1,000 jobs at its Cologne plant in Germany, with the reductions set to begin in early 2026.
Germany’s The Greens forced to downsize after electoral defeat
Numerous fixed-term employees have been laid off from Germany's The Greens party after poor election results and continually falling short in polls.
Intel cancels multi-billion euro chip factory in Germany
US technology giant Intel said will not move ahead with a controversial €30 billion chip factory in the German city of Magdeburg, as part of a new cost-cutting…
German industrial giant Thyssenkrupp to be ‘virtually dissolved’
Germany's iconic industrial group Thyssenkrupp will be broken up and turned into a financial holding no longer producing steel.
A 10% rise in electricity prices could kill 1 in 50 manufacturing jobs, say ECB economists
Economists from the European Central Bank (ECB) have calculated what they said was the detrimental effect of lasting high electricity prices on European employment.
Volvo plans cost cuts of €1.6 billion and staff reductions
Swedish automaker Volvo Cars has announced a cost-cutting initiative worth 18 billion Swedish krona (€1.
Situation ‘alarming’: Germany lost 120,000 jobs in manufacturing sector in 2024
In its latest job report on March 31, Germany's Federal Employment Agency (BA), announced that German industry lost around 120,000 jobs in the last 12 months.
Losses for German automotive supplier ZF top €1bn
German automotive supplier ZF has endured a brutal 2024 and reported yearly losses of more than €1 billion.
Industrial carnage: German giant Siemens to shed more than 6,000 jobs
Siemens, one of Germany’s biggest industrial conglomerates, has announced a tough cost-cutting programme that would see 5,600 jobs disappear in its Digital Industries…
Volkswagen profits tumble 30 per cent
Volkswagen's net profit plummeted by more than 30 per cent in 2024 compared to the previous year.
German post to cut 8,000 jobs as part of cost-saving strategy
DHL unveiled plans on March 6 to cut about 8,000 jobs in Germany this year as part of a strategy to save more than €1 billion by 2027, after the logistics group…
Porsche plans to cut additional 1,900 jobs by 2029
Carmaker Porsche plans to cut an additional 1,900 jobs across the entire company over the next four years after a programme that has already started was determined…
Europe’s biggest motorbike manufacturer may move production to Asia
KTM, Europe’s biggest manufacturer of motorcycles by sales, is mulling moving a large part of its production capacity to either India or China, according to company…
Record job losses for Belgium in 2024
A record 27,187 people lost their job in Belgium in 2024: the highest number of redundancies in a year ever.
Cold Christmas for employees at Austrian motorcycle giant KTM as production comes to a halt
The crisis at Austrian motorbike manufacturer KTM is worsening, with the company unable to pay its 6,000 employees the previously promised November and December…
German chemicals giant Evonik says 7,000 jobs on the line
A major restructuring and cost-cutting operation at Evonik, a publicly-listed German specialty chemicals company, could reduce its workforce by one-fifth.
Bosch, ‘absolutely unbearable,’ to cut up to 10,000 jobs as German economy slows
German industrial giant Bosch will lay off thousands more employees than it had already announced, it said on December 11.