Metso Oyj Completes Statutory Negotiations in Paper Business; to Cut Jobs
Metso Oyj announced that Metso's Pulp, Paper and Power segment has completed statutory negotiations in most of units serving the paper industry. As a result of these, the workforce in Finland will be reduced by a total of 660 positions. The aim of the personnel reductions at this stage is to achieve savings of approximately EUR 50 million in annual costs. The cost savings for 2013 are estimated to be EUR 5 million. Metso will reduce its workforce by a total of 660 positions. The reduction will take place through redundancies, retirement options and terminations of temporary contracts. Internal transfers will take place too. The impact of reductions on different Metso locations will be determined soon, after details of how many employees will transfer to other locations within the Company are known. Statutory negotiations covering Finnish operations in Company's EMEA (Europe, Middle East, Africa) area organization are continuing. Temporary layoffs might also be possible if required by the business' workload or financial situation. This possibility will remain in force until the end of 2014, by which time the situation will have been reviewed. The possibility of temporary layoffs affects all units serving the paper industry. Metso will provide a range of support measures for those affected by the restructuring through its "Polku" employment support program, which includes support for entrepreneurship, studying, re-employment, such as job-to-job training, and relocation support.
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