Berlin:A significant wave of layoffs is sweeping across Europe, impacting various sectors including manufacturing, finance, transport, and telecommunications. The job cuts are driven by several factors such as weakening demand, trade barriers from the US, and rising competition from Chinese companies, leading to a push for cost reduction and increased automation.

According to Anadolu Agency – English, the automotive sector is particularly affected, with established manufacturers facing high production costs and challenges from electric vehicle adoption and Chinese rivals. Volkswagen plans to cut around 100,000 jobs globally by 2030, and suppliers like Bosch and ZF Friedrichshafen are also reducing their workforce significantly.

Heavy industry and energy sectors are not spared, with companies like Thyssenkrupp and Romanian energy producer Complexul Energetic Oltenia announcing job reductions as they adapt to the transition away from fossil fuels. Romanian shipyard Damen Shipyards Mangalia is also cutting jobs following bankruptcy proceedings.

In the transport and logistics sectors, Deutsche Bahn plans to eliminate 30,000 positions, while Swiss group Kuehne+Nagel and Dutch airline KLM are also set to reduce their workforce as they face rising costs and geopolitical uncertainties.

Automation is reshaping office work, with banks and insurers turning to artificial intelligence. Standard Chartered and Barclays are among those planning significant job cuts, while German insurer Allianz Partners is also reducing its workforce as it expands the use of AI.

Telecommunications companies like Telefonica and Vodafone are trimming their workforces, affecting both administrative roles and retail networks. Meanwhile, the delivery and hospitality industries are rethinking operations, with companies such as Pyszne.pl, Whitbread, and Sodexo announcing workforce reductions to enhance efficiency.