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Finance

Oil company OMV plans to cut staff in Austria

Published by Global Banking and Finance Review

Posted on September 12, 2025

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(Reuters) -Energy group OMV said on Friday it has started negotiations with employee representatives in Austria as part of a cost-saving programme that it says could have a "mid-three digits labor impact" in the country.

It did not provide an exact figure.

The Austrian company added in a statement it has identified a cost savings potential of 400 million euros ($469 million) by the end of 2027.

($1 = 0.8537 euros)

(Reporting by Paolo Laudani, editing by Thomas Seythal)