Feb 25 (Reuters) - French consumer goods company SEB said on Wednesday it would launch a restructuring plan that may impact up to 2,100 jobs worldwide by 2027, including 1,400 positions in Europe. The
SEB Plans Global Job Cuts, Affecting Up to 2,100 Positions by 2027
Feb 25 (Reuters) - French small appliance and cookware maker SEB said on Wednesday it would launch a restructuring plan that may impact up to 2,100 jobs worldwide by 2027, including 1,400 positions in Europe.
The plan targets cost savings of 200 million euros ($236 million) by the end of next year, and will include cuts to indirect purchases, improved industrial efficiency and an optimisation of recurring costs, SEB said in a statement.
SEB's Strategic Restructuring Initiative
It currently employs 32,000 people. It makes flagship products like Tefal pans in France and other European factories, and small electrical appliances in China.
The maker of Rowenta irons and Krups coffee machines expects to book a one-time spend of between 1 and 1.25 times the targeted recurring annual savings, with provisions recognised in 2026 and payment in 2027, it said.
SEB expects its operating result from activity to rise this year, after reporting a drop of 25% in 2025.
Financial Performance and Future Goals
It also aims to return to a net debt leverage of 2 times its adjusted earnings before interest, taxes, depreciation and amortisation by 2027.
The company had cut its annual profit and revenue forecasts for the second time in October, citing slower sales in Europe and a "wait and see" attitude from U.S. consumers and business clients.
($1 = 0.8472 euros)
Market Challenges and Adjustments
(Reporting by Alessandro Parodi and Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak)
