IBM, SAP and Dow latest companies to lay off thousands of employees worldwide

Technology company IBM, software group SAP and chemical giant Dow are the latest companies to announce their plans to lay off thousands of employees worldwide. This month, a host of major tech companies already announced job cuts to cut costs.

The European SAP is culling around 3,000 employees, around 2,5% of its total workforce. IBM is laying off 3,900 employees worldwide, while Dow is cutting 2,000 jobs and closing several sites, mainly in Europe.

The companies in question join corporations like Microsoft, Meta, Amazon and Google, who will each lay off at least ten thousand employees in 2023. The companies mainly blame the bad macroeconomic conditions, rising energy prices and inflation for the layoffs.

In Belgium, Janssen Pharma announced that they will start cutting costs in the Research & Development department in Beerse. Unions fear that up to 200 employees might lose their jobs, around 4 per cent of the total workforce.



Get updates in your mailbox

By clicking "Subscribe" I confirm I have read and agree to the Privacy Policy.


Belga News Agency delivers dependable, rapid and high-quality information 24 hours a day, 7 days a week, from Belgium and abroad to all Belgian media. The information covers all sectors, from politics, economics and finance to social affairs, sports and culture, not to mention entertainment and lifestyle.

Every day, our journalists and press photographers produce hundreds of photos and news stories, dozens of online information items, plus audio and video bulletins, all in both national languages. Since the end of March 2022 English has been added as a language.

For public institutions, businesses and various organisations that need reliable information, Belga News Agency also offers a comprehensive range of corporate services to meet all their communication needs.


Arduinkaai 29 1000 Brussels