Which European Companies are slashing jobs due to Coronavirus?

Since the outbreak of the novel coronavirus, the world economy has witnessed a huge down curve, resulting in massive job cuts.

According to data, about 397,000 people in the European Union lost their jobs in April. The jobless rate rose to 6.6% in April, from a 12-year low of 6.4% in June.

Read on below to find out which companies in Europe have slashed jobs amid the rising grim conditions due to Coronavirus.

Mulberry (25% of its workforce)

The novel coronavirus has gripped the entire fashion industry in Europe.

Mulberry, the UK brand known for its leather goods and costly handbags said it would cut 25% of its worldwide workforce.

Swissport (4,556 jobs)

Swissport (Aviation services company )said it could cut 4,556 jobs in the UK and Ireland.

Moreover, Swissport Western Europe operates at London airports Heathrow and Gatwick, said that it had to reduce its staff size to survive the crisis.

British Airways (up to 12,000 jobs)

British Airways announced at the end of April it would cut up to 12,000 jobs from its 42,000-strong workforce due to coronavirus wreaking havoc on the travel industry.

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EasyJet (around 4,500 jobs)

Britain’s low-cost airline EasyJet has also announced it would be cutting 30% of its workforce which amounts to about 4,500 jobs.

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Ryanair (about 3,000 jobs)

Budget airline Ryanair said it would cut 15% of its workforce globally, about 3,000 jobs, after the pandemic grounded flights.

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Renault

The French Carmaker company Renault has revealed the plan to slash 15,000 jobs worldwide as part of the plan after seeing sales plunge because of the global pandemic.

Some 4,600 jobs will go in France, and Renault has said six plants are under review for possible cuts and closure.

Airbus

European multinational aerospace corporation Airbus warned in April to its staff to brace for the deeper job cut adding that the survival o the company is at stake.

Furthermore, the administration told 135,000 employees to be ready for potentially deeper job cuts and warning its survival is at stake without immediate action.

Air France 

Air France announced this month to reduce 7,500 positions across its network. Although Air France, in its latest press release, has outlined its plans to adapt its workforce for the future.

Consequently the majority of the cuts are expected at Air France. Out of its 41,000-strong workforce, the current predictions show a reduction of 6,560 jobs over the next three years.

Lufthansa (22,000 jobs)

Lufthansa announced to cut 20% in leadership positions and the reduction of 1,000 administrative jobs because of the coronavirus pandemic.

Moreover, the German Airlines would also cut the investment volume for new aircraft in half, with its financial plan allowing for up to 80 new aircraft for the airline’s fleet up to 2023.

Nissan

Japan Automaker Nissan announced to slash more jobs in its three plants due to low demand amid the novel coronavirus pandemic.

Hence the Japan Automaker speculates to cancel all-night shifts at its plant in Oppama, Kanagawa prefecture, and at a production line in Kyushu, southern Japan, between June 29 and July 31.

In addition to this protests erupted with people burning tyres to try and fight for their jobs.