Business
Norway's Tomra to cut 175 jobs
Norway's Tomra to cut 175 jobs
About this update from Tomra Systems Asa
Norway's Tomra Systems OSL:TOM said on Wednesday it plans to cut costs and lay off staff in its recycling technology unit to return profitability to its target level.The company will cut 175 full-time positions to achieve annual cost reductions of 16 million euros ($19.07 million) from 2027, it said in a statement.Tomra Recycling has a goal of an operating margin before amortisation (EBITA) of more than 20%, it added.Tomra will book one-off costs of 15 million euros to pay for the restructuring, it said.The company will present its full-year results for 2025 on February 13.($1 = 0.8391 euros)