PET recycler Carbios to cut around 40 percent of its workforce

After pausing its plans to construct a bio-recycling plant for PET packaging waste in Longlaville, France, Carbios also announced restructuring plans aimed at further reducing operating costs in late January. Up to around 40 percent of jobs at Carbios and its subsidiary Carbios 54 could be cut, said the company. According to its 2023 annual report, the company had 135 employees at the close of the reporting year.

In late December, Carbios had announced it would postpone construction of its first commercial plant in Longlaville for six to nine months owing to delays with the release of additional financing and funding for the project. This includes money from the “France 2030” investment plan, which, as state aid, is contingent on the approval by the European Commission. The company is also looking to secure funding from other, non-dilutive sources….

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