05:29 AM EST, 11/12/2026 (MT Newswires) -- Umicore (UMI.BR) proposed changes to its operating model that could result in up to 350 job losses over the next two years as the Belgian materials technology company seeks to improve efficiency and strengthen its business. The Belgian materials technology company expects the changes to generate 60 million euros in annualized savings by the fourth quarter of 2028, according to a Thursday release. The changes, which will mostly affect enterprise functions across different regions, are expected to be implemented in phases through the end of 2029. Umicore has begun consultations with trade unions and works council representatives.

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