AGP Executive Report
Last update: 8 hours agoAutomotive Job Cuts: Schaeffler plans to eliminate 3,460 European positions, including 2,660 in Germany, and close five sites. BMW also plans to accelerate cuts as falling sales in China deepen pressure on its workforce. Restructuring: Canva says 1,271 roles—22% of its global workforce—will be affected, though it has not said which countries will bear the cuts. Google has expanded voluntary buyout offers to employees in France, Germany, Canada, Japan and Switzerland. Jobs Preserved: An agreement with unions halves Electrolux’s planned Italian cuts to 902, all through voluntary departures, while safeguarding its factories and providing for more than €100 million in investment. Hiring Costs: UK employers face a rising bill for younger staff: a policy think tank estimates the annual cost of employing an 18- to 20-year-old full-time will reach £20,511 in April 2027, nearly £4,900 above 2024. Germany’s Labour Market: Services firms cut jobs in October for the first time since July, as weaker demand slowed sector growth.
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