---
title: "Umicore Puts Up to 350 Jobs at Risk While Investing €450…"
canonical: "https://www.metaintro.com/blog/umicore-jobs-at-risk-belgium-investment"
language: "en"
author: "drashtigarach"
published: "2026-11-12T11:17:44.000Z"
modified: "2026-11-12T11:17:44.000Z"
---

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# Umicore Puts Up to 350 Jobs at Risk While Investing €450 Million (About $500 Million) in Belgium

Umicore says up to about 350 jobs could go over two years, mostly in enterprise functions, while it puts €450 million (about $500 million) into Hoboken.

[![Drashti Garach](https://cdn.metaintro.com/rs:fill:40:40/q:72/plain/images/5719d740-e510-42bc-8017-e040d145f35f_1766029465094.png)Drashti Garach @DrashtiGarach](/blog/author/drashtigarach)

[November 12, 2026](/blog/archive/2026/11)13 min read

![A large metals refining and recycling plant on a Belgian riverbank under a bright blue sky](https://cdn.metaintro.com/rs:fill:1200:675/q:78/plain/images/10854.jpg)

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[Umicore](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/)'s proposed organisational changes [could affect up to ca. 350 employees potentially facing job loss over the next two years](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), in the same release in which it confirmed a €450 million (about $500 million at the [November 12 exchange rate](https://open.er-api.com/v6/latest/USD)) investment in its Hoboken refinery in Belgium. The cuts are not limited to Hoboken, and are expected to fall [mostly on enterprise functions across different regions](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and [which sites will lose jobs is not yet known](https://www.vrt.be/vrtnws/nl/2026/11/12/umicore-investeert-450-miljoen-euro-in-hoboken-en-schrapt-tot-35/) (translated). The investment goes into [industrial capabilities](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), while the job plan targets [more integrated and standardized support functions](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). For [Metaintro](https://www.metaintro.com) readers who work in corporate roles at Umicore or a similar industrial group, this guide covers who is in scope, what Belgian law requires before any dismissal, what support workers are owed, and where Umicore is still hiring.

## What Exactly Did Umicore Announce on November 12?

Two announcements came out together on [November 12, 2026](https://www.deaandeelhouder.be/nieuws/2026/11/12/beursupdate-brusselse-beurs-in-het-groen-3/). The first is an investment, as Umicore [has decided to invest](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) in the expansion of the flowsheet in Precious Metals Refining at its site in Hoboken, [a district of Antwerp](https://www.lalibre.be/economie/placements/2026/11/12/umicore-investit-un-demi-milliard-deuros-a-anvers-mais-licencier-350-personnes-6ERA57UOHZFWJEOWYTUH5WVLJE/) (translated).

The second is a proposed reshaping of how the company is run, as Umicore is [targeting a simpler, more agile operating model with clearer accountabilities and stronger collaboration](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and the proposed job losses are tied to that change.

Umicore's [Q3 2026 trading was in line with expectation and FY 2026 guidance was reiterated](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). The job plan comes alongside unchanged guidance for [adj. EBITDA slightly above €1 billion](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) (about $1.1 billion at the [November 12 exchange rate](https://open.er-api.com/v6/latest/USD)) for the full year.

## Is This a Hoboken Job Cut, and Who Is Actually in Scope?

Not as announced. [One early La Libre headline](https://www.lalibre.be/dernieres-depeches/2026/11/12/umicore-investit-450-millions-mais-prevoit-de-supprimer-environ-350-postes-a-hoboken-V4VQOTGPU5HANLCRG25VIG5QWE/) tied the cuts to Hoboken, but the company did not. The roles are [mostly impacting enterprise functions across different regions](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and the release does not say [in which parts or at which sites the jobs will disappear](https://www.vrt.be/vrtnws/nl/2026/11/12/umicore-investeert-450-miljoen-euro-in-hoboken-en-schrapt-tot-35/) (translated). Hoboken is where the money goes, and [the Umicore press release](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) does not limit the job plan to any one site.

The initiative [aims to reshape enterprise functions and standardize processes using automation, digital tools, AI and selective outsourcing](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). Chief executive Bart Sap described the target as [more integrated and standardized support functions](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) that sharpen the focus of the business teams on customers, innovation and growth.

The headline figure is a ceiling, not a count of notices, since the employees in scope are only [potentially facing job loss](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). That figure [excludes external contractor positions that are also in scope of the initiative](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), so the roles in scope go beyond the employee figure.

For scale, Umicore lists [11,230 employees on its current careers page](https://www.umicore.com/en/careers/), and describes itself as [a global advanced materials and recycling group](https://www.umicore.com/en/about/). Its operations are [divided into four business groups, each consisting of decentralized business units](https://www.umicore.com/en/about/). In November 2024 the group had [about 3,500 in Belgium](https://newmobility.news/en/2024/11/07/umicore-slashes-260-jobs-in-its-battery-materials-division/) out of about 12,000 people worldwide.

## How Long Will the Changes Take, and What Is the Savings Target?

The timeline runs longer than the two-year window for job losses, since implementation [is anticipated to be phased through the end of 2029](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), while any job losses could come [over the next two years](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

The money target comes earlier. Umicore expects [an estimated €60 million in annualized savings](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) (about $67 million a year at the [November 12 exchange rate](https://open.er-api.com/v6/latest/USD)) to be delivered by the end of Q4 2028.

The new target is not the same as the [efficiency measures of € 60 million](https://www.umicore.com/en/media/newsroom/half-year-results-2026/) (about $67 million at the [same exchange rate](https://open.er-api.com/v6/latest/USD)) Umicore listed for H1 2026. The November figure is annualized savings from the operating model change, [expected to be delivered by the end of Q4 2028](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

The half-year 2026 results add that [corporate costs are expected to increase somewhat versus 2025, with targeted investments in digitalization and artificial intelligence capabilities](https://www.umicore.com/en/media/newsroom/half-year-results-2026/).

> Sustaining performance and growth over the long term requires both investment in our industrial capabilities and a more effective organization, CEO Bart Sap said, according to [the Umicore press release](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

## What Will the Hoboken Investment Do?

The money goes into the [Precious Metals Refining flowsheet](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and the new [state-of-the-art hydro-metallurgical flowsheet](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) is meant to bring greater feed flexibility, [shorter throughput times for Platinum Group Metals and other precious metals](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and more capacity for minor and specialty metals like antimony and tin.

The expansion [will also enable the refining and recycling of cobalt, adding an 18th metal to the flowsheet](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). On the environmental side, it is designed to enable [compliance with the EU’s Ambient Air Quality Directive](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and it is meant to enhance operational safety [through increased automation](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

The money [will be deployed between 2027 and 2030 which is the expected commissioning year](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and Umicore expects [a payback period of about 6 years](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). The project is still [subject to required regulatory approvals](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

The European Commission [recently selected the expansion as a strategic project under the Critical Raw Materials Act](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). The release gives no figure for how many jobs, if any, the [Hoboken expansion](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) will add.

The Precious Metals Refining unit [is part of Umicore Recycling Business Group](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and in the first half of 2026 Recycling [revenues and, to a greater extent, adj. EBITDA increased y/y, by 8% and 36% respectively](https://www.umicore.com/en/media/newsroom/half-year-results-2026/). That was despite [lower volumes in Precious Metals Refining, following the scheduled maintenance shutdown in H1 2026](https://www.umicore.com/en/media/newsroom/half-year-results-2026/).

## Is This Investment New, or Was It Announced Before?

The investment was [envisioned at its Capital Markets Day in March 2025](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and the March 2025 roadmap listed an [investment for the future in Precious Metals Refining plant in Hoboken, Belgium](https://www.umicore.com/en/media/newsroom/umicore-unveils-roadmap-to-2028/). What is new is the firm [decision to invest](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/). Sap confirmed that money [will be invested in the Hoboken site, which had already been discussed last year](https://www.vrt.be/vrtnws/nl/2026/11/12/umicore-investeert-450-miljoen-euro-in-hoboken-en-schrapt-tot-35/) (translated).

At that Capital Markets Day, Umicore set a [capex reduction of € 1.4 billion](https://www.umicore.com/en/media/newsroom/umicore-unveils-roadmap-to-2028/) (about $1.6 billion at the [November 12 exchange rate](https://open.er-api.com/v6/latest/USD)) between 2025 and 2028 versus its previous plan. It also kept targeting the offset of inflation through [gross efficiencies of minimum € 50 million to € 75 million per year from 2026 to 2028](https://www.umicore.com/en/media/newsroom/umicore-unveils-roadmap-to-2028/) (about $56 million to $83 million a year at the [same exchange rate](https://open.er-api.com/v6/latest/USD)).

## Has Umicore Cut Jobs Like This Before?

Yes. In November 2024, Umicore set out plans for [cutting about 260 jobs worldwide](https://newmobility.news/en/2024/11/07/umicore-slashes-260-jobs-in-its-battery-materials-division/), with [some 100 jobs disappearing in Belgium, including 71 in Olen and the rest in Brussels](https://newmobility.news/en/2024/11/07/umicore-slashes-260-jobs-in-its-battery-materials-division/). Those cuts were in its [battery materials division](https://newmobility.news/en/2024/11/07/umicore-slashes-260-jobs-in-its-battery-materials-division/).

Umicore [launched the information and consultation phase of the Renault law](https://newmobility.news/en/2024/11/07/umicore-slashes-260-jobs-in-its-battery-materials-division/), and by January 2025 management and unions [reached an agreement on a social plan](https://www.vrt.be/vrtnws/nl/2025/01/29/umicore-sociaal-akkoord/) (translated), as reported by [the liberal union ACLVB](https://www.vrt.be/vrtnws/nl/2025/01/29/umicore-sociaal-akkoord/). Umicore confirmed that the [information and consultation phase has been formally concluded](https://www.umicore.com/en/media/newsroom/agreement-on-accompanying-measures/).

ACLVB secretary Christophe Van Audenhove said the aim was [to rely as much as possible on voluntary departure](https://www.vrt.be/vrtnws/nl/2025/01/29/umicore-sociaal-akkoord/) (translated), with financial incentives, and that SWT, the system of unemployment with company top-up that used to be called the bridging pension, would not be used. In Germany, Umicore has informed employees at Hanau about its plans [to reduce close to 140 positions or 14 percent of its workforce in Hanau](https://www.umicore.com/en/media/newsroom/workforce-reduction-plans-for-its-automotive-catalysts-business-in-hanau/) until 2027, including voluntary leaver programs.

## What Does Belgian Law Require Before Anyone Is Dismissed?

Collective dismissals in Belgium follow the [Law of 13 February 1998, the so-called Renault Law](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium). Umicore [has begun consultations with trade unions and works councils’ representatives](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

The rule applies when, within 60 days, a firm plans dismissals of [at least 10 workers in firms with 20-99 employees, of at least 10% of the workforce in companies with 100-299 employees or at least 30 workers in firms with 300 or more staff](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium). The employer must notify the regional employment office, which is [VDAB in Flanders, FOREM in Wallonia and ACTIRIS in Brussels](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium).

The consultation has [no time limit with regards to when it should end](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium). Once it is complete, the employer must notify the regional office in writing, [providing proofs that the consultation procedure has been respected](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium).

> From that moment, union representatives have [30 days to object](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium) about the information and consultation process. During this period, the employer cannot proceed to any layoff, according to [the Eurofound restructuring legislation database](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium).

If unions object, the regional office [can extend this period up to 60 days](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium). Outside Belgium, support for those affected will follow [local practices and requirements](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/).

## What Support Are Affected Workers in Belgium Owed?

If an employer announces a collective dismissal and is in restructuring, it [must set up an employment cell and provide extra guidance for your search for new work](https://www.socialsecurity.be/citizen/nl/werk-en-werkloosheid/bedrijfsherstructurering-en-collectief-ontslag) (translated), and outplacement is offered to everyone who signs up to that cell.

If the restructuring leads to your dismissal, you may, under certain conditions, be entitled to [a reintegration allowance (or a higher unemployment benefit), and a reduction card](https://www.socialsecurity.be/citizen/nl/werk-en-werkloosheid/bedrijfsherstructurering-en-collectief-ontslag) that brings social security (RSZ) advantages with your next employer (translated).

[Outplacement rules](https://www.vdab.be/ontslag/outplacement) depend on notice length and age. Under the general scheme, you qualify if you were not dismissed for serious cause and have [a notice period of at least 30 weeks](https://www.vdab.be/ontslag/outplacement) (translated) or equivalent pay. With less than 30 weeks, you still qualify if you worked in the private sector, were dismissed for a reason other than serious cause, were at least 45 at dismissal and had [worked one year without interruption for your employer](https://www.vdab.be/ontslag/outplacement) (translated). Under that special scheme, if you qualify for a retirement pension, you [no longer have a right to outplacement](https://www.vdab.be/ontslag/outplacement) (translated).

If you are required to follow it and do not, [the VDAB control service can impose a sanction](https://www.vdab.be/ontslag/outplacement) (translated) that affects your unemployment benefit. Outplacement can also [start during your notice period](https://www.vdab.be/ontslag/outplacement) (translated), on your job-search leave days.

## Where Is Umicore Still Hiring?

Umicore is still posting jobs, and its [job finder page](https://www.umicore.com/en/careers/job-finder/) currently lists a Laboratory Support Specialist in Nysa, Poland, a Commercial Operations Specialist in Songdo, Korea, and production roles in Changshu, China, and Quapaw in the United States.

In Belgium, Umicore is advertising a [Management Officer role in Belgium, Olen, at Mid-Level](https://www.umicore.com/en/careers/job-finder/) on its current job finder, and the production and maintenance page lists a [Vlinder procesoperator (Vaste Nacht) role in Belgium, Brugge](https://www.umicore.com/en/careers/what-you-could-do/production-and-maintenance/), a fixed night shift process operator job (translated) marked for mid-level and entry-level applicants.

Applications, with a CV and cover letter, [are submitted online](https://www.umicore.com/en/careers/recruitment-process/). If they stand out, Umicore invites you to [a video interview to get to know each other, followed by some assessments](https://www.umicore.com/en/careers/recruitment-process/), and if you are successful, a second interview at one of its sites. In some cases there is a medical exam, and [a certificate of good conduct will also be required](https://www.umicore.com/en/careers/recruitment-process/).

If no current role fits, Umicore [accepts spontaneous applications](https://www.umicore.com/en/careers/) through its open application page. It [only recruits via this page or approved partners](https://www.umicore.com/en/careers/job-finder/), and its careers page warns that [scammers may sometimes pose as recruiters](https://www.umicore.com/en/careers/).

## What This Means for Umicore Staff and Job Seekers, and What Should You Do Next?

Umicore's plan pairs a [refinery investment](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) with a leaner support layer, built on [automation, digital tools, AI and selective outsourcing](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) to standardise the work. Factory floors are changing too, as [Europe adds AI in factories while its workforce ages](https://www.metaintro.com/blog/europe-ai-manufacturing-workforce-2026).

If you work in a support function at Umicore, or as a contractor in one, your role sits in the [enterprise functions](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/) the plan targets. Use the Belgian process to your advantage. It has [no time limit](https://apps.eurofound.europa.eu/legislationdb/public-authorities-information-and-consultation-on-dismissals/belgium), and no layoff can happen until it ends and the 30-day objection window has passed.

- **Know the numbers that apply to you.** Your notice length and age decide your [outplacement rights](https://www.vdab.be/ontslag/outplacement), so check your contract start date and notice period now.
- **Look inside first.** Umicore is still hiring in production, labs and commercial roles on its [job finder page](https://www.umicore.com/en/careers/job-finder/).
- **Build the skills the new model runs on.** The plan names [automation, digital tools, AI and selective outsourcing](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), so list any process, systems or automation work on your CV now.
- **Sign up to the employment cell if one is set up.** It is the route to outplacement, and a dismissal in a restructuring can, under certain conditions, bring the [reintegration allowance and reduction card](https://www.socialsecurity.be/citizen/nl/werk-en-werkloosheid/bedrijfsherstructurering-en-collectief-ontslag).

Start by mapping your support-function skills to open roles, using [AI tools for a job search after a layoff](https://www.metaintro.com/blog/job-search-with-ai-after-a-layoff).

Lacey Kaelani, [Metaintro](https://www.metaintro.com)'s CEO, puts it this way: A long consultation is time you are still being paid. Use it to map your skills to the plants and suppliers that are hiring, not to wait for the final list.

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## People Also Asked

### Q: How many jobs is Umicore cutting?

A: Umicore's proposed changes [could affect up to ca. 350 employees potentially facing job loss over the next two years](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), not counting external contractor positions that are also in scope.

### Q: Are the Umicore job cuts at the Hoboken plant?

A: Umicore has not tied them to Hoboken. They are expected to fall [mostly on enterprise functions across different regions](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), and the sites affected [are not yet known](https://www.vrt.be/vrtnws/nl/2026/11/12/umicore-investeert-450-miljoen-euro-in-hoboken-en-schrapt-tot-35/) (translated).

### Q: When will the Hoboken investment be finished?

A: The €450 million (about $500 million) will be spent [between 2027 and 2030 which is the expected commissioning year](https://www.umicore.com/en/media/newsroom/umicore-to-invest-450-million-euros-for-growth/), subject to regulatory approvals.

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