The Metso engineering corporation is to start statutory negotiations on personnel reductions in several of its units serving especially the paper industry, but also the pulp industry. Most of the 750 jobs to be eliminated are in Finland.
Metso said on Monday that the move is part of its global cost competitiveness programme to adapt to changes in the marketplace. The programme targets an annual cost reduction of approximately EUR 100 million by 2016.
Reduction measures will include redundancies, internal transfers, early retirement options, terminations of temporary contracts and temporary layoffs. The company also warned that the closure of office and production locations is also possible.
Job cut-backs are expected to be implemented during the third quarter of this year.
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