Ence Energía y Celulosa to Trim Up to 57 Employee Contracts Under New Agreement

04:42 AM EST, 12/23/2025 (MT Newswires) -- Ence Energía y Celulosa (ENC.MC) reached an agreement with the legal representatives of its employees to terminate up to 57 employee contracts across Spain as a result of its efficiency and competitiveness plan. The agreement forms part of the collective dismissal procedure affecting the Spanish pulp mills company's Pontevedra biorefinery workplaces, its head offices in the Galicia region, Navia, and Madrid. Dismissals will be carried out between Jan. 1, 2026, and Dec. 31, 2027, according to a Tuesday release. The company expects the plan to deliver annual cash cost savings of 22 euros per tonne, with a total cash outflow of 20 million euros to be disbursed over the next two years.