Post Time：Nov 05,2024Classify:Company NewsView：903
O-I has started talks about permanently closing some of its European furnaces.
It initiated talks with its European Works Councils to permanently close several furnaces and to lay off several senior members of staff, at discussions which started last month.
The discussions are likely to conclude at the end of this year or in early 2025.
In a quarterly report it said: "The company initiated discussions with its European Works Councils to permanently close several furnaces and eliminate a number of selling, general and administrative positions within the European segment."
The discussions come amid a decline in its European profit by 41% compared to the year before.
It has temporarily stopped production at 21% of its European capacity.
"The company will continue to monitor business trends and consider whether any indefinite or permanent capacity closures in Europe will be necessary in the future to align its business with demand trends."
Source: www.glass-international.comAuthor: shangyi
