Spinnova announces mass job cuts

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Uncertainty at Spinnova looks set to continue with the sustainable fibre manufacturer announcing a raft of job cuts and adjustments to its organisational structure

Spinnova’s patented technology creates biodegradable and recyclable fibre out of wood pulp or waste

Troubled Scandinavian textile fibre innovator Spinnova has announced it is to reduce its workforce by more than half in an effort to slash costs.

It is hoped that the cuts, which will see up to 35 redundancies out of a total permanent workforce of 56, will bring annual savings of approximately €2.6 million. The firm’s management team is not included in the cuts.

 

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