Internal restructuring
Location of affected unit(s)
Austria, Brazil, China, Indonesia, Thailand
Manufacture Of Material For Textiles, Apparel, Leather And Related Products
Manufacture Of Textiles
13 - Manufacture Of Textiles

500 jobs
Number of planned job losses
Job loss
Announcement Date
3 November 2023
Employment effect (start)
1 January 2024
Foreseen end date


The Austrian textile fibers and plastics manufacturer Lenzing has announced that it will lay off about 500 employees from its global workforce. The restructuring programme will affect all of the company’s locations.

The decision came after the company reported a widened third-quarter net loss related to a drop in demand which has affected the textile sector. Under the savings programme, the company expects to reduce personnel costs by up to €30 million. The implementation of the plan is expected to begin in the first quarter of 2024.

In Austria, 250 positions will be affected. The company has negotiated with the local trade unions and works councils to implement socially responsible redundancy programmes.

Lenzing group employs over 8,000 staff members worldwide. Its production facilities are located in Austria, Brazil, China, Indonesia and Thailand.



Eurofound (2023), Lenzing, Internal restructuring in World, factsheet number 200595, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200595.