Cookware manufacturer Supor Group to lay off 7%, citing improved efficiency from AI
The company stated that the new recovery plan will impact up to 2,100 positions globally.
Groupe SEB, the manufacturer of Tefal cookware, announced it will cut nearly 7% of its workforce. This French home appliance manufacturer is leveraging artificial intelligence for a major strategic restructuring to drive business recovery.
As of the end of 2024, the company has approximately 31,000 employees. Groupe SEB said its new recovery plan will affect up to 2,100 positions worldwide, with about 1,400 positions in Europe. In France, 500 positions may be reduced through voluntary departures.
Groupe SEB stated on Wednesday that the new business transformation plan includes the application of artificial intelligence, accelerating product time-to-market, and boosting online sales through digital marketing. The related adjustments will mainly be implemented in 2026, with planned expenditures scheduled for 2027.
The company’s goal is to achieve annual cost savings of approximately 200 million euros (about 235.5 million US dollars) by the end of 2027.
“Our environment is undergoing profound changes, which will further intensify in 2025,” the company stated.
Groupe SEB announced that its sales in 2025 are expected to grow slightly by 0.3% year-over-year (on a comparable basis), reaching 8.17 billion euros; operating profit is expected to decline by 25% year-over-year, to 601 million euros. The company said profitability declined significantly, reflecting a challenging year of operations.
Editor: Guo Mingyu
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
OPEC+ maintains December production target as expected, November 29 decision on next year's framework is the real test
OPEC+ maintains its oil production target for December unchanged.
After the massive sell-off in tech stocks, US stocks face another crucial week: midterm elections, major earnings reports, and nonfarm payrolls taking turns
This week, the market focus has shifted to the U.S. midterm elections, the October non-farm payroll report, and more earnings reports from major companies.
Is the US stock market aiming for 8,000 points? Morgan Stanley's Wilson remains bullish: Regardless of who wins the midterm elections, dips should be bought
Morgan Stanley's well-known analyst Mike Wilson stated that regardless of who wins the midterm elections, one should buy stocks on the dip.
Crypto prices
More
