Hydro cuts 2,200 employees

Photo: Håkon Mosvold Larsen / NTB scanpix

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Aluminum giant Norsk Hydro announces cuts of 2,200 employees by 2023. It is not known how many will be affected in Norway.

A total of around 2,200 employees will lose their jobs by 2023 compared to the 2018 level, writes Dagens Næringsliv.

“From day one, I have been clear: Earnings have simply been too low,” CEO Hilde Merete Aasheim said at the start of Hydro’s investor day on Tuesday.

How many will lose their jobs in Norway is still unclear, but Hydro’s CFO Pål Kildemo warns that both the administration at Vækerø and Hydro’s rolling mill in Holmestrand and at Karmøy will lose staff.

1,200 employees will be cut at facilities for so-called extruded products. One of these is located at Magnor in Hedmark, but there are no specific plans for this plant, says Information Director Halvor Molland to NTB.

Magnor’s press office has around 100 employees.

© NTB Scanpix / #Norway Today

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