OMV confirms job cuts in Austria

According to a statement on Friday, job reductions "in the mid-three-digit range" are possible in Austria. OMV plans to achieve savings of 400 million euros by 2027. Additionally, it is suggested that there could also be sales of business units.

OMV in Negotiations with Employee Representatives on the Consequences of Job Cuts

"OMV is conducting a group-wide review to secure the future of its business areas, streamline processes and portfolio, increase flexibility, and improve long-term resilience in a volatile market environment," the press release states. The "Kurier" was the first to report that the Austrian oil, gas, and chemical company could cut a total of around 2,000 jobs, about 400 of which are in Austria. Negotiations have been initiated with employee representatives "regarding possible impacts on employment in Austria, which are currently estimated to be in the mid-three-digit range," the statement says.

(APA/Red)

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