Umicore invests 450 million euros in Hoboken and cuts up to 350 jobs worldwide

Umicore announces a €450 million investment in its Hoboken site while potentially cutting up to 350 jobs globally over the next two years. CEO Bart Sap emphasizes the need for industrial capacity investment and organizational efficiency. The company aims to save €60 million annually by 2028 through a simpler work model. Discussions with unions and employee representatives have begun, but specific job cuts and locations remain unspecified.