Finland / Outokumpu Oyj cuts 2,500 jobs

Finnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall.

The world’s leading stainless steel maker says about a third of the job cuts will be applied this year, mostly in Germany, Sweden and Finland, in line with production capacity reductions and streamlining.

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via Outokumpu cuts 2,500 jobs to save $455 million – Businessweek.