OSLO, Norway’s Tomra Systems said on Wednesday it plans to cut costs and lay off staff in its recycling technology unit to return profitability to its target level.
The company will cut 175 full-time positions to achieve annual cost reductions of 16 million euros ($19.07 million) from 2027, it said in a statement.
Tomra Recycling has a goal of an operating margin before amortisation (EBITA) of more than 20%, it added.
Tomra will book one-off costs of 15 million euros to pay for the restructuring, it said.
The company will present its full-year results for 2025 on February 13.