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Intel Launches €5 Billion Leixlip Expansion, Says AI and Server Demand Is Raising Intel 3 Needs
Intel said on July 13 it has begun a €5 billion investment at its Leixlip campus to upgrade existing fabrication facilities, add manufacturing equipment and site infrastructure, and expand European Intel 3 wafer output for Xeon 6 and next-generation Xeon products. The company expects most of the spending by end-2027 and said the project will add several hundred jobs.
Companies & Earnings · a day agoVolkswagen CEO says 20% cost gap implies about 50,000 further job cuts beyond existing reductions
Volkswagen has already agreed about 50,000 job reductions across the group, including Audi and Porsche. In a July 13 staff memo, CEO Oliver Blume said a remaining cost disadvantage of about 20% versus peers mathematically points to roughly 50,000 more cuts, while final measures are still being assessed by brand, company, and region.
Finance & Banking · 9 days agoBaillie Gifford begins September 2025 workforce review, seeking voluntary departures as it reorganizes roles
In September 2025, Baillie Gifford said it was consulting on changes across about 1,600 employees, with up to 50 positions potentially affected and some departures expected before year-end. The firm said it was reallocating roles to reflect changes in client distribution, while using internal mobility to redeploy staff where possible.
Economy · 9 days agoMay 2026 euro-zone unemployment holds at 6.2%; EU rate remains 5.9%
Eurostat reported 10.986 million unemployed people in the euro area in May, down 55,000 from April, while the EU total fell 40,000 to 13.163 million. The euro area rate was down from 6.3% a year earlier. Youth unemployment was 14.7% in the euro area and 15.2% in the EU.
Companies & Earnings · 16 days agoVolkswagen studies up to 100,000 job cuts, highlighting deeper strain in Germany's auto industry
Reuters reported on June 26 that Volkswagen is considering closing or winding down production at four German sites and raising planned job reductions to as many as 100,000, with the proposal due for discussion on July 9. Industry surveys show German suppliers are also cutting hiring and delaying investment amid weaker demand, tariffs and competition from Chinese automakers.
Companies & Earnings · 18 days agoFAZ: Porsche Weighs Bringing Cayenne Production Back to Leipzig From Bratislava
Frankfurter Allgemeine Zeitung reported Porsche is considering shifting Cayenne manufacturing, including combustion, hybrid and electric versions, from Bratislava to Leipzig. Porsche said discussions with employee representatives are under way, and the works council confirmed talks remain open. Cayenne production moved fully to Bratislava in 2017.
Economy · 22 days agoUS August flash PMI edges higher as manufacturing returns to growth
S&P Global’s August flash PMI showed the composite output index at 55.4, up from 55.1, as manufacturing returned to expansion with the factory PMI at 53.3 from 49.8 and output at a more than three-year high. Services stayed in expansion at 55.4, while hiring and selling prices also increased.
Economy · a month agoILO approves first global convention setting labor standards for platform-based work
The International Labour Organization adopted its first international convention for gig and platform workers, establishing binding labor standards including protections regardless of employment classification and disclosure of how automated systems affect workers. The convention takes effect in member states 12 months after ratification.
Technology · a month agoILO approves first global convention setting labor rules for platform-based work
The International Labour Organization adopted Convention No. 193 at the International Labour Conference in Geneva on June 12, 2026, creating the first binding international standards for digital platform work. The measure establishes rules covering employment protections for gig workers and includes international provisions on algorithmic management.