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Lenzing Shares Plummet 17% Amid 2000 Job Cuts, Heiligenkreuz Sale, and Capital Increase Plans
Lenzing's stock plunged by 17 percent after the company announced plans to cut 2000 jobs by the end of 2027, sell its Heiligenkreuz site, and pursue a capital increase of up to 300 million euros to strengthen its financial structure, causing a nervous reaction among shareholders.
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