Umicore announces workforce reduction plans for its Automotive Catalysts business in Hanau

Against the backdrop of the ongoing transition to electric mobility, Umicore has been working in recent years to adapt its Automotive Catalysts business to changing market conditions. This includes a continued focus on efficiency and performance, while adjusting its operations in line with market demand. Given the less stringent than initially foreseen Euro-7 legislation on emission limits for road vehicles, Umicore is now implementing some of these adjustments faster than previously planned.

As part of this ongoing assessment, Umicore has informed its employees about its plans to reduce close to 140 positions or 14 percent of its workforce in Hanau – until 2027. These plans include voluntary leaver programs which were presented earlier this year to the colleagues in Hanau and which aim to minimize the impact for its employees as much as possible. The programs have been developed in close cooperation with its social partners. Umicore will continue to work closely with its social partners in the coming months to manage the changes at its Hanau site in the best possible way for all impacted employees.

Umicore reaffirms its commitment to its Automotive Catalysts business and automotive customers. It will maintain a critical presence and capacity to support its customers through the different stages of the transformation with its leading automotive catalysts technologies. Additionally, Umicore remains firmly committed to the Hanau site¹ and to its role as an important employer in the region.

The mobility transformation towards electric driving is ongoing and irreversible, even if the pace of this transformation – like with any major transformation – is not linear. While internal combustion engine cars will remain the dominant powertrain for the next years, demand is gradually reaching its peak. Umicore's strategy for Automotive Catalysts reflects this development with a focus on optimized capacity utilization, process efficiency and costs. Along with its leading technology position and global presence in the longevity segment, Umicore continues to be a trusted partner for its customers as they transition from internal combustion engines to hybrid, electric or fuel cell vehicles.

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^{1 Umicore's largest site in Germany is located in Hanau. A total of seven business units are active in Hanau: Automotive Catalysts, Battery Materials, Battery Recycling Solutions, Fuel Cells & Stationary Catalysts, Jewelry & Industrial Metals, Precious Metals Chemistry and Precious Metals Management.}