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Europe Job Losses Accelerate on AstraZeneca-to-PepsiCo Cuts

Global companies from NEC Corp. to PepsiCo Inc. and AstraZeneca Plc are chopping jobs more than three times faster than in 2011 as they brace for recession in Europe and a slowdown in China.

Announced workforce reductions surged to 94,369 through Feb. 10 from 26,561 a year earlier, according to data compiled by Bloomberg. Employers based in Western Europe accounted for the biggest group of job-cut disclosures, threatening to add to unemployment in the euro area already running at a 13-year high.