The wave of layoffs is growing across Europe, giant companies are cutting staff

Volkswagen, Bosch, Vodafone and Barclays are among the major European companies cutting jobs as rising costs, weak economic growth, competition from Chinese manufacturers and AI-driven automation push employers to shrink headcounts. The wave spans the region's key industrial and services sectors, signaling that Europe's largest employers are prioritizing cost discipline over expansion amid a sluggish growth outlook. The breadth of the cuts matters because it threatens to weaken consumer demand and complicate the European Central Bank's policy path. Investors will watch upcoming earnings and PMI data for confirmation that labor-market softness is spreading beyond manufacturing.