Finance
Oil company OMV plans to cut staff in Austria
Published by Global Banking & Finance Review®
Posted on September 12, 2025
1 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 12, 2025
1 min readLast updated: January 21, 2026
OMV plans staff reductions in Austria as part of a cost-saving strategy, aiming for 400 million euros in savings by 2027.
(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)
OMV has started negotiations with employee representatives in Austria as part of a cost-saving program that may lead to staff reductions.
The company has identified a cost savings potential of 400 million euros (approximately $469 million) by the end of 2027.
The article mentions that $1 is equivalent to 0.8537 euros.
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