Metals recycler and battery materials producer Umicore announced on Wednesday that it is laying off 260 workers, including around 100 in Belgium.
Headquartered in Brussels, Umicore is an international materials technology company which specialises in producing and recycling materials for solar cells, batteries, LED applications and catalytic converters.
Umicore CEO Bart Sap said that the company is faced with "difficult decisions" as it feels the impacts of the automotive industry transitioning towards electric power.
The company is reducing its workforce by 260 people, as part of a cost-saving strategy outlined in its half-year results.
Research roles in Belgium affected
In Belgium, around 100 jobs will be affected, mainly in R&D roles in Olen (Antwerp province) and some corporate functions in Brussels. The information and consultation phase of the Renault procedure has already begun.
Globally, job losses are expected in Jiangmen (China) and Hørsholm (Denmark), as R&D activities for heavy-duty diesel applications will be moved to Hanau (Germany).
Umicore has also confirmed that it has suspended construction of its Canadian battery materials plant.
These cost-saving measures are in addition to an efficiency programme launched in 2023 and are expected to generate approximately €40 million in annual savings from 2025, Umicore noted.
The group currently employs about 12,000 people worldwide, including 3,500 in Belgium.
