Lenzing to Cut 2,000 Jobs and Close Two Sites

Fiber manufacturer Lenzing will cut 2,000 jobs and end production at its Heiligenkreuz and Grimsby sites by 2027 amid a major refinancing.

Publicly traded fiber manufacturer Lenzing is undergoing a strategic realignment, phasing out production at its Heiligenkreuz site in Burgenland and its Grimsby site in England by the end of 2027. CEO Georg Kasperkovitz announced the group will reduce its global workforce by approximately 2,000 positions from its 2025 level of 7,700. The Heiligenkreuz site, which employs 285 people under an existing social plan, is seeking a new owner. To support this, Lenzing secured up to 600 million euros in fresh capital from financiers and major shareholders B&C Group, Suzano, and Oberbank. The company reached a refinancing agreement extending liabilities to 2030 and plans a 300 million euro capital increase. An extraordinary general meeting is set for August 25, 2026. Hans Peter Doskozil serves as Governor of Burgenland.