Umicore cuts 165 jobs in Olen (Olen)


Umicore in Olen
Photo: Marc Peeters

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The Umicore materials group will reorganize its cobalt activities. As a result, 165 jobs will be lost at the site in Olen by mid-2023. Umicore announced this on Wednesday.

Management plans to relocate some of its cobalt operations in Olen to Finland, where the company acquired the Kokkola refinery last year. “This state-of-the-art refinery is one of the largest cobalt refineries in the world and allows the business unit to produce on a larger and more competitive scale,” he said.

As a result of the decision, 165 jobs will be lost in Olen. The phasing out will be done through natural attrition, Umicore said.

The group also wants to stop the cobalt activities in Arab, in the US state of Alabama. There are 42 jobs at stake.

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