By: ICN Bureau
Last updated : September 17, 2025 6:56 am
OMV has entered into negotiations with employee representatives regarding the potential impact on its workforce in Austria
OMV announced a comprehensive program to further strengthen its organizational resilience and competitiveness amid ongoing commercial, economic, and geopolitical challenges. Building on its integrated business model and in line with its Strategy 2030, OMV is driving progress across its chemicals, fuels, and energy business segments while preparing for long-term resilience in a volatile market environment.
As part of this initiative, OMV has launched a Group-wide review to streamline operations, optimize its portfolio, and enhance flexibility. The program focuses on efficiency measures designed to generate cost savings of €400 million by the end of 2027, supporting the previously announced target of €500 million in operating cashflow improvements.
“Amid a challenging market and volatile geopolitical environment, we are taking decisive steps to set ourselves up for long-term resilience while delivering on our strategy. In this context, the Executive Board has initiated a comprehensive review of our portfolio, strategic priorities, and efficiency measures across the Group. Details regarding any potential impact on our workforce will be discussed and agreed in dialogue with employee representatives and announced in due course,” said Alfred Stern, Chairman of the Executive Board and Chief Executive Officer of OMV.
As part of these measures, OMV has entered into negotiations with employee representatives regarding the potential impact on its workforce in Austria, currently estimated to be in the mid-three-digit range.