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Outokumpu Completes Negotiation, Cuts 200 Jobs in Finland
12/16/2011 - Outokumpu has concluded the employee negotiations that were initiated in October in Finland. The negotiations resulted in some 200 job reductions.
Outokumpu has concluded the employee negotiations that were initiated in October in Finland. The negotiations resulted in some 200 job reductions.
The negotiations were part of the plans Outokumpu had announced on October 20 to streamline its organization in its transition toward sustainable profitability, improved cash flow and building a solid platform for future growth.
The company said that it plans to implement additional cost efficiency improvement measures in support functions during 2012 as part of the on-going EUR 100 million cost-cutting program. Negotiations in other countries are on-going and are expected to be finalized during the first quarter of 2012.
Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Outokumpu employs some 8000 people in more than 30 countries, and its head office is located in Espoo, Finland.
