Lenzing AG plans job cuts and announces investment package for sites in Austria
News General news
Austrian company Lenzing AG has announced job cuts at its headquarters in Lenzing. At the same time, the pulp manufacturer is planning an investment package to ensure the competitiveness and profitability of its sites in Austria.
In order to further increase operational efficiency, additional measures to improve the cost structure will be implemented. This includes job cuts at the headquarters. According to the company, around 300 jobs will be cut, particularly in the administrative area, 250 of which will be cut by the end of 2025.
The group has put together an investment package to secure the Austrian pulp mills in Lenzing and Heiligenkreuz: Investments of over €100 million are planned for both sites by the end of 2027. Lenzing is also considering selling its production facility in Indonesia.
