HELSINKI Oct 2 Finnish cargo handling equipment
maker Cargotec Oyj said it plans to cut jobs in an
effort to bolster profitability ahead of the planned listing of
its marine unit next year.
Cargotec said it planned to cut around 245 "man years" in
jobs, 130 of them in Finland. A man year is a unit of work done
by one person in a single year.
The company is preparing to list its marine unit in Asia
next year and use the proceeds to finance new investments.
The announcement adds to a string of recent job cut plans
from Finnish companies such as Metso, Rautaruukki
, Kesko and OP-Pohjola due to the economic
(Reporting by Helsinki newsroom; Editing by Hans-Juergen