Wave of Layoffs Hit Europe Amid Economic Slowdown and U.S. Tariffs

MACROECONOMY 
Wave of Layoffs Hit Europe Amid Economic Slowdown and U.S. Tariffs 
Major European firms announced large-scale layoffs in 2025 due to weak demand, high costs, and pressure from new U.S. import tariffs. Bosch will cut 13,000 jobs, Renault 3,000, Volkswagen 7,000, and Nestlé 16,000, while Burberry and Volvo plan 1,700 and 3,000 reductions, respectively. The downsizing wave also hits finance and energy sectors, with Commerzbank, OMV, and Novo Nordisk slashing thousands of roles as Europe grapples with sluggish growth, inflation, and trade tensions. (Reuters) 

INDUSTRY 
Indonesia Imposes Up to 7.5% Export Levy on Cocoa Beans Effective 17 Oct-25 
Finance Minister Purbaya Yudhi Sadewa officially included cocoa beans under the plantation export levy scheme through PMK No. 69/2025, effective 17 Oct-25. The new rule replaces PMK No. 30/2025, setting a progressive export levy from 0% to 7.5% depending on global cocoa prices — no levy below USD 2,000/ton, 2.5% between USD 2,000–2,750, 5% for USD 2,750–3,500, and 7.5% above USD 3,500. The policy aims to strengthen state revenue and support sustainable commodity management alongside palm oil. (Kontan)

COMPANY 
Summarecon Agung (SMRA) Posted 49% YoY Marketing Sales Growth in 3Q25 
SMRA recorded marketing sales of IDR 1.39 tn in 3Q25 (+49% YoY, +8% QoQ), bringing 9M25 total to IDR 3.57 tn (+34% YoY), equivalent to 71% of its FY25 target of IDR 5 tn. The housing segment contributed 76.3% of total sales, followed by shophouses (20%), apartments (1.9%), land plots (1.6%), and office/commercial units (0.2%). (Company)