Umicore cuts back in Karleby – over 180 employees laid off

The cobalt and battery material manufacturer Umicore will lay off 183 employees at its plant in Kokkola, Finland, while five people will be dismissed. This is reported by Finnish Yle, citing the company's announcement following concluded change negotiations. According to Yle, around 400 employees in Kokkola were affected by the negotiations, which concluded earlier this week. Umicore states that the layoffs will be of varying durations. The measures are part of the company's work to adapt operations to the current market situation, writes Yle. During the negotiations, Umicore evaluated various ways to reduce costs and adjust both production pace and staffing. Yle notes that Umicore has had extensive plans for several years to expand battery material production in Kokkola. According to previous information, the investment plans amounted to over one billion euros, but these expansion plans have now been put on ice. Despite the cutbacks, Umicore emphasizes, according to Yle, that the Kokkola plant will continue to play a central role in the company's global battery material production. In a press release referenced by Yle, the company states that it sees its operations at the site as long-term