Orion S.A. announces layoffs amid preliminary fiscal year 2024 update
Orion S.A. has announced a series of layoffs as part of its preliminary fiscal year 2024 update. The company revealed that it will reduce its non-plant workforce by approximately 6%, a move expected to generate around $6 million in annualized cost savings starting in 2025. This decision comes as Orion faces several financial challenges, including foreign exchange translation impacts and weaker-than-anticipated volumes in its Rubber segment.
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