Umicore layoffs and AI

Umicore, press release "Umicore to invest €450 million for growth; intends to strengthen operating model and reiterates FY 2026 guidance" (November 12, 2026): "Alongside investment in its industrial capabilities, Umicore plans to simplify its operating model, create clearer accountabilities and strengthen collaboration, with greater focus on customers, innovation and growth. The initiative aims to reshape enterprise functions and standardize processes using automation, digital tools, AI and selective outsourcing." and "The proposed organizational changes could affect up to ca. 350 employees potentially facing job loss over the next two years." Footnote 3: "This excludes external contractor positions that are also in scope of the initiative." And: "Implementation is anticipated to be phased through the end of 2029, mostly impacting enterprise functions across different regions."

Umicore, the Belgian materials and metals recycling group, said on November 12, 2026 that changes to its operating model could cost up to about 350 employees their jobs over the next two years, mostly in enterprise support functions across several regions, with the changes phased through the end of 2029. The company says it wants a simpler organisation with more integrated and standardised support functions and about 60 million euros of annual savings by the end of 2028, and that it will reshape those functions and standardise processes using automation, digital tools, AI and selective outsourcing. AI is one of several means and reasons the company itself names, beside simplification, savings and outsourcing, so the cut is graded Mixed. The 350 is a maximum, so it is not counted; it excludes external contractor positions that are also in scope, and Umicore has not said how many of the jobs are in Belgium. The same release announces a 450 million euro investment in its precious metals refinery in Hoboken, Belgium, which the release does not link to the job losses.

Roles the sources name:

Enterprise (corporate support) functions across several regions (Umicore's release)

Share of the workforce:

up to about 3% (our arithmetic: up to about 350 of the more than 11,000 employees Umicore gives in the same release)

Where:

Belgium (headquarters; the job losses fall mostly in enterprise functions across several regions, with no country split given)