Norsk Hydro: Hydro cuts costs and carries out strategic workforce adjustment
To strengthen its long-term resilience, Hydro has decided to initiate a process aiming to cut annual costs by NOK 1 billion, including reducing the overall workforce by 750 positions.
What credit rating implications might arise from the restructuring and reduced cost base?
Is there any risk that the cuts could impair Hydro’s ability to meet demand in key markets (e.g., aluminium for EVs and renewable energy)?
How will the cost savings be reflected in Hydro’s guidance for FY24 and FY25?
10 days ago