Latest news with #French-Italian
RTÉ News
6 days ago
- Automotive
- RTÉ News
European companies cut jobs in response to slowing economy
Difficult economic conditions, exacerbated by US President Donald Trump's tariffs, and persistently weak demand for many products have forced companies across Europe to freeze hiring or cut jobs. Here are some of the layoffs announced since the beginning of April: Car and car parts makers STELLANTIS - The automaker agreed with trade unions to implement up to 200 voluntary redundancies at its Termoli plant in central Italy, it said on May 8. The Fiom-Cgil union said on May 7 that Stellantis would also cut up to 500 jobs through voluntary exits at its Melfi assembly plant in southern Italy, which employs around 5,000 people. On April 3, Stellantis said it would temporarily lay off 900 workers at five US facilities in response to the Trump administration's tariff announcement. VOLKSWAGEN - The German carmaker's CFO said on April 30 it had cut headcount in Germany by around 7,000 since starting cost savings in late 2023. VOLVO - The Swedish truck maker plans to lay off as many as 800 workers at three US facilities over the next three months, a spokesperson said on April 18. VOLVO CARS - The Swedish carmaker will cut 3,000 mostly white-collar jobs as part of a restructuring announced in April as it grapples with high costs, a slowdown in EV demand and uncertainty over trade tariffs, it said on May 26. On May 7, Volvo Cars said it would cut 5% of the workforce at its US plant in Charleston, South Carolina due to changing market conditions and evolving trade policies. Banks COMMERZBANK - The German bank said on May 14 it had agreed with the works council on terms to cut around 3,900 jobs by 2028, part of a strategy to help it deliver more ambitious profit targets. HSBC - The banking giant plans to cut 348 jobs in France through a voluntary redundancy scheme, amounting to about 10% of its workforce in the country, it said on May 14. UBS - Switzerland's largest bank informed unions in Italy on April 1 of plans to cut 180 jobs in the country, around a third of its workforce in the country, documents reviewed by Reuters showed. Industrial and engineering STMICROELECTRONICS - The French-Italian chipmaker said on April 30 it would cut around 1,000 jobs in France, more than a third of the 2,800 layoffs planned in its cost-cutting programme. SYENSQO - The Belgian chemicals maker is speeding up restructuring measures, which include cutting around 200 jobs, due to demand uncertainty caused by global economic turmoil, it said on May 15. Retail and consumer goods AUCHAN - The French supermarket group will cut 710 jobs and close 25 stores in Spain as it seeks to adapt to changing habits of shoppers, it said on May 8. BURBERRY - The British luxury brand will shed 1,700 jobs, or around a fifth of its global workforce, to cut costs to help revive its performance, it said on May 14. LVMH - The Financial Times reported on May 1, citing an internal video, that the luxury group's wine and spirit unit Moet Hennessy would cut its workforce by about 1,200 employees.
Yahoo
26-05-2025
- Business
- Yahoo
Europe is plagued by too many naval yards, French Navy chief says
PARIS — Europe has too many naval shipyards competing for business, and the industry needs to consolidate to a handful of players than can win export contracts, French Navy Chief of Staff Adm. Nicolas Vaujour said in a parliamentary hearing last week. The Naviris joint venture between Italy's Fincantieri and France's Naval Group, created in 2020 and meant as a first step in wider European naval consolidation, 'unfortunately didn't quite live up to expectations,' Vaujour told the National Assembly's defense committee on Wednesday. 'Today in Europe, we have around 14 shipyards that are competing with each other pretty much everywhere,' Vaujour said. 'In an ideal world, we would have three or four that challenge each other, but would above all be winning export market share abroad.' Europe lacks a single naval strategy, with countries having their national strategies and struggling to converge, the French Navy commander said. With governments keen to safeguard regional industrial activity and economies, political initiatives are probably not the way to consolidating military shipbuilding, according to Vaujour. 'We have the political ambition to be more coherent, from an industrial point of view, and to divvy up the market a little, so to say,' Vaujour said. 'But the reality is, we all agree here that if we must choose between Naval Group and Fincantieri, obviously it's Naval Group. And when you're in Italy, they of course say Fincantieri.' France also wants to protect the smaller naval yards along its coast, such as Piriou, Socarenam and CMN, according to the admiral. That means creating a naval equivalent of European aircraft maker Airbus would depend on the shipbuilding companies first and foremost, 'that is, if they manage to merge,' Vaujour told lawmakers. 'We didn't succeed with Fincantieri.' When Naval and Fincantieri created Naviris, they said the joint venture would serve the French and Italian navies, but also pursue export opportunities outside Europe and be a leader in shipbuilding consolidation. While Naviris won part of a €1.5 billion contract to upgrade the French-Italian Horizon-class frigates in 2023, success in the latter two areas has been more elusive. France and Italy have 'very, very different' strategies for shipbuilding and vessel size, according to Vaujour. France has been moving towards smaller frigates, with the newest Frégate de Défense et d'Intervention, or FDI, displacing 4,500 metric tons, whereas Italy's new PPA offshore patrol vessel displaces 7,000 tons and the DDX destroyer design is for 14,000 tons, Vaujour said. 'We consider that the size is a little too large,' Vaujour said. He said the FDI is drawing interest from European countries because the frigate is suitable for small navies, an accessible vessel that can be operated by a small crew. 'So we have divergence in our vision of the vessel of the future.' France and Italy also use different economic models, with the Italians buying 'a lot of ships' for their navy that they can resell, allowing to rapidly fill potential export orders, according to Vaujour. The French are in discussion with Naval Group about ordering a 'blank hull' that would be either available for export, or join the French fleet ahead of schedule if there's no buyer, Vaujour said. Naval Group currently has a minimum production rate of one FDI per year at its yard in Lorient, and says it can raise capacity to two per year, according to the admiral. France has ordered five FDI frigates from Naval Group, with the lead vessel of the class Amiral Ronarc'h completing sea trails last month. The first of three FDI frigates for the Hellenic Navy, HS Kimon, started sea trails on May 21 in Lorient. 'The first thing partners interested in the FDI ask about is the lead time – how soon can you supply me with a frigate?' Vaujour said. 'That's the only question the Norwegians, Swedes, and Danes ask when they ask for the FDI: `When can you deliver?'' Naval Group is convinced of the blank hull concept, while the Directorate General for Armament considers the model 'really relevant,' Vaujour said. He said the idea of ordering an FDI hull without a guaranteed buyer does carry risk, and the Finance Ministry still requires convincing. 'The acceleration of new contracts, we have to be able to do that,' Vaujour said. 'Lorient is capable of moving to two per year, and we can help with that.' A recent partnership agreement between Naval Group and Norway's Kongsberg should be seen in the context of a potential sale of frigates to the Royal Norwegian Navy, according to Vaujour. Norway is 'quite interested' in the FDI, which is in competition with British, German and Italian designs, and should France win the deal, there will be work sharing with Kongsberg, Vaujour said.
Time of India
20-05-2025
- Automotive
- Time of India
Citroen appoints Xavier Chardon as CEO, Koskas to leave company
HighlightsCitroen has appointed Xavier Chardon as its new Chief Executive Officer, following the departure of former CEO Carlos Tavares in December. Xavier Chardon returns to Citroen after a career that included significant roles at Volkswagen Group, where he was head of sales for Europe and head of France. Chardon will officially take over the position on June 2, 2023, succeeding Thierry Koskas, who has led the brand since 2023. Citroen has appointed Xavier Chardon as its new CEO, the brand's owner Stellantis said on Monday, as the group's search for its own top executive nears completion. The French-Italian owner of the Jeep and Peugeot brands is choosing who will lead it through one of the industry's most tumultuous periods, after its former CEO Carlos Tavares abruptly departed in December following a dramatic plunge in sales and profit. Chardon was at Citroen between 1994 and 2012, most recently as managing director of the brand in France, before joining the Volkswagen group where he has been head of sales for Europe and for the past four years head of France. He will take over the top job at Citroen from June 2 and will report to Stellantis' Chief Operating Officer for Enlarged Europe Jean-Philippe Imparato, the group added. His predecessor, Thierry Koskas, who led the brand since 2023, will leave Stellantis, a spokesperson of the group told Reuters.
Hindustan Times
20-05-2025
- Automotive
- Hindustan Times
European companies cut jobs in response to slowing economy
May 20 - Difficult economic conditions, exacerbated by U.S. President Donald Trump's tariffs, and persistently weak demand for many products have forced companies across Europe to freeze hiring or cut jobs. Here are some of the layoffs announced since the beginning of April: CAR AND CAR PARTS MAKERS * STELLANTIS: The automaker agreed with trade unions to implement up to 200 voluntary redundancies at its Termoli plant in central Italy, it said on May 8. The Fiom-Cgil union said on May 7 that Stellantis would also cut up to 500 jobs through voluntary exits at its Melfi assembly plant in southern Italy, which employs around 5,000 people. On April 3, Stellantis said it would temporarily lay off 900 workers at five U.S. facilities in response to the Trump administration's tariff announcement. * VOLKSWAGEN: The German carmaker's CFO said on April 30 it had cut headcount in Germany by around 7,000 since starting cost savings in late 2023. * VOLVO: The Swedish truck maker plans to lay off as many as 800 workers at three U.S. facilities over the next three months, a spokesperson said on April 18. * VOLVO CARS: The Swedish carmaker said on May 7 it would cut 5% of the workforce at its U.S. plant in Charleston, South Carolina due to changing market conditions and evolving trade policies, including tariffs. BANKS * COMMERZBANK: The German bank said on May 14 it had agreed with the works council on terms to cut around 3,900 jobs by 2028, part of a strategy to help it deliver more ambitious profit targets. * HSBC: The banking giant plans to cut 348 jobs in France through a voluntary redundancy scheme, amounting to about 10% of its workforce in the country, it said on May 14. * UBS: Switzerland's largest bank informed unions in Italy on April 1 of plans to cut 180 jobs in the country, around a third of its workforce in the country, documents reviewed by Reuters showed. INDUSTRIALS AND ENGINEERING * STMICROELECTRONICS: The French-Italian chipmaker said on April 30 it would cut around 1,000 jobs in France, more than a third of the 2,800 layoffs planned in its cost-cutting program. * SYENSQO: The Belgian chemicals maker is speeding up restructuring measures, which include cutting around 200 jobs, due to demand uncertainty caused by global economic turmoil, it said on May 15. RETAIL AND CONSUMER GOODS * AUCHAN: The French supermarket group will cut 710 jobs and close 25 stores in Spain as it seeks to adapt to changing habits of shoppers, it said on May 8. * BURBERRY: The British luxury brand will shed 1,700 jobs or around a fifth of its global workforce to cut costs to help revive its performance, it said on May 14. * LVMH: Financial Times reported on May 1, citing an internal video, that the luxury group's wine and spirit unit Moet Hennessy would cut its workforce by about 1,200 employees. OTHERS * PROSIEBENSAT.1: The German media group will cut 430 full-time positions as part if its digital transformation, it said on May 7. Sources: Regulatory filings, Reuters reporting and company websites
LeMonde
18-05-2025
- Entertainment
- LeMonde
Tatiana Trouvé's poetic workshop
A bit of Montreuil has made its way to Venice. On the top floor of Palazzo Grassi, the museum of the Pinault Collection, at the end of her exhibition "The Strange Life of Things" (on view until January 4, 2026), the visual artist Tatiana Trouvé has filled a room with objects she usually stores in the basement of her studio in the suburbs of Paris. These include bronze casts of shoes, bags, padlocks, radios, school soap dishes, key rings and dried flowers. A few weeks ago, they left the studio for the Venetian lagoon. "I don't miss them," said the French-Italian artist, born in 1968, with a smile. "I know they'll come back. Anyway, it's the ABC of my work, my vocabulary." Trouvé, a contemporary art figure and winner of the prestigious Marcel Duchamp Prize in 2007, who exhibited at the Centre Pompidou in 2022, is accustomed to accumulating various objects. She searches for some and stumbles upon others by chance. She makes molds of them, which then feed into her works. Take her "Necklaces" series: delicate creations made of trinkets found in various cities – Venice, Montevideo, Buenos Aires. Other objects become the basis for her sculptures and large-format drawings. "I make no distinction between mediums nor between the scales of the works. But everything is made here. By hand," she said.
