Umicore's Strategic Shift: Workforce Reductions Amid Changing Auto Emissions Norms

Belgian metal recycling group Umicore plans significant workforce cuts at its German automotive catalysts business due to looser Euro 7 emissions regulations and decreased car demand. By 2027, 14% of positions, affecting 140 jobs in Hanau, Hesse, will be reduced. The strategy aligns with expected demand peaks in combustion engine cars.

Belgian metal recycling group Umicore is planning substantial workforce reductions at its German automotive catalysts business, it said on Tuesday, citing looser than expected Euro 7 emissions legislation and lower demand for cars.

The planned cuts target a 14% reduction in positions by 2027, affecting 140 jobs in Hanau, Hesse. The company said that while internal combustion engine cars will remain dominant for the next years, demand is beginning to peak, the company said.

"Umicore's strategy for Automotive Catalysts reflects this development," it added. Umicore's catalysis business, its largest by revenue, recycles rare metals used in emissions control devices, imposed by emissions regulations.

In September last year the European Union agreed on a looser compromise proposal for its latest Euro 7 norm.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)