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Kongsberg Automotive to Cut 150 Jobs Under Cost Reduction Plan

MT Newswires·07/03/2025 03:35:38
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03:35 AM EDT, 07/03/2025 (MT Newswires) -- Kongsberg Automotive (KOA.OL) intends to cut 150 jobs as part of the overhead cost reduction plan, resulting in an annual savings of 15 million euros. The majority of the plan, which was started in May, is scheduled to be completed in 2025, according to a Thursday release. However, certain aspects are expected to extend to the third quarter of 2026. The Norwegian automotive parts manufacturer is also adjusting its direct labor levels to align with lower production volumes amid market volatility.