Austrian fiber producer Lenzing to cut 2,000 jobs globally by 2027

Austrian fiber manufacturer Lenzing has announced a major restructuring plan that will eliminate approximately 2,000 jobs globally by the end of 2027. The expanded cost-cutting measures follow a previous reduction of up to 600 administrative positions announced over the past year.

The company's facility in Heiligenkreuz, located in southern Burgenland, is among the locations most heavily affected. The prospective closure of the site directly threatens 285 jobs, alongside secondary impacts on local suppliers and regional businesses, unless a new investor is secured. The downsizing highlights broader financial pressures and structural shifts currently impacting Austrian industrial manufacturers.

Sources: Der Standard