Metso to cut up to 630 jobs in Finnish paper units
HELSINKI, Sept 18 |
HELSINKI, Sept 18 (Reuters) - Engineering firm Metso will start lay-off talks in Finland to cut up to 630 jobs in its units serving the paper industry due to falling demand for paper machines.
Metso said on Tuesday it aimed to save some 30 million euros ($39.4 million) annually through the job cuts, which will take place during the first half of 2013.
"The gains made by new communications technologies have weakened growth in the consumption of printing and writing paper. As a result, the market for new printing paper machines has slowed," Pasi Laine, head of Metso's pulp, paper and power business, said in a statement.
($1 = 0.7612 euros) (Reporting by Terhi Kinnunen; Editing by Mark Potter)
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