The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.15 - Manufacture Of Fertilisers And Nitrogen Compounds
150 jobs Number of planned job losses
Announcement Date
29 November 2024
Employment effect (start)
1 February 2025
Foreseen end date
31 December 2025
Description
Yara, a Norwegian-headquartered fertilizer producer, has offered severance packages to all 700 employees in support functions in Norway as part of a cost reduction program. The offer was first announced in November 2024. As of February 2025, the company reports that approximately 150 employees have accepted the offer, with most having already left the company. Yara expects further job cuts in 2025, as a part of the company's efforts to reduce fixed costs by $150 million and cut investments by an additional $150 million by the end of the year.
Yara reports to be working closely with trade unions and employee representatives to ensure an orderly process and minimise uncertainty among staff. Union representative Ragnhild Flesland Høimyr described the severance offers as a demanding situation for affected employees and underscored the unions dedication to take care of their members, while also acknowledging the company's position that cuts are necessary to ensure long-term competitiveness.
Yara describes itself as the world’s leading crop nutrition company, operating in over 60 countries with a total of around 18 000 employees.
Eurofound (2024), Yara, Internal restructuring in Norway, factsheet number 202389, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202389.
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