Outokumpu to improve efficiency
6 April 2011 at 9.00 am EET
Outokumpu plans to implement actions to improve profitability, gain more efficiency and remove overlapping activities in sales, supply chain and supporting functions in Europe.
The planned actions are also expected to result in a reduction of up to 350 jobs of which up to 90 in Finland and up to 80 in Sweden. The negotiations with personnel will be started according to local laws and regulations immediately. In addition several parallel activities to improve profitability are currently on-going in different countries. The annual cost-savings from all announced actions are estimated to amount to approximately EUR 25 million in 2012.
CEO Mika Seitovirta: "Outokumpu has been loss-making the past three years and we must improve our financial performance. Outokumpu needs to become more efficient in its ways of working and serve customers better every day. Unfortunately the planned actions are expected to have impact on our personnel as well."
Outokumpu operates in 34 countries and employs 8 100 people.
No comments:
Post a Comment