Keywords: Job cuts
German specialty chemicals group Evonik has announced plans to eliminate 3,200 jobs worldwide by 2029 as part of an expanded restructuring programme aimed at improving efficiency and adapting to challenging global economic conditions. The company stated that the job reductions will include approximately......
Norsk Hydro, the Norwegian aluminium producer, has announced plans to shut down two of its extrusion plants in the United States next year, resulting in the loss of approximately 350 jobs. The company said the affected facilities are located in City of Industry, California, and Delhi, Louisiana. It......
A wave of restructuring across global banking institutions has intensified job cuts linked to artificial intelligence, with 63,000 positions eliminated in 2026. Financial groups are increasingly integrating AI efficiency targets into workforce planning, moving beyond pilot programs and experimental use......
HSBC chief executive Georges Elhedery has told the bank’s 200,000 employees to embrace artificial intelligence or risk being left behind, framing generative AI as a force that will both eliminate and create jobs across the financial sector. He made the remarks during an investor day presentation......
German battery manufacturer Varta AG has announced plans to eliminate around 350 jobs following the loss of a key customer. The decision also includes the gradual end of production of button cells at its site in Noerdlingen, located in southern Germany. According to company representatives, the affected......
The Swedish furniture giant IKEA has announced plans to cut 850 jobs worldwide as part of a broader restructuring aimed at simplifying its organizational structure and reducing costs. The job reductions will affect both Sweden and international operations, with around 300 positions expected to be eliminated......
Nicolai Tangen, chief executive of Norges Bank Investment Management, warned companies against using artificial intelligence primarily as a tool for workforce reductions, arguing that aggressive job cuts could trigger public backlash and damage broader confidence in the technology. Speaking ahead of......
The German lender Commerzbank is reportedly preparing additional job cuts as part of an updated strategic plan, according to media reports, while facing renewed takeover pressure from Italy’s UniCredit. The financial newspaper Handelsblatt reported that the scale of the planned workforce reductions......
The British Broadcasting Corporation (BBC) has announced plans to cut around 2,000 jobs, representing roughly 10% of its total workforce, as part of a major cost-reduction strategy over the next three years. The decision marks the largest wave of redundancies at the public service broadcaster in 15......
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