Outokumpu continues to streamline its operations, plans job reductions in General Stainless
27 April 2012 at 8.50 am EET
Outokumpu continues to improve the efficiency of its operations to reach sustainable profitability. The measures announced today are expected to result in the reduction of 150–200 jobs in General Stainless and certain functions in Tornio as well as the Group’s Terneuzen unit in The Netherlands. Outokumpu expects the majority of the planned job reductions to take place in Finland.
CEO Mika Seitovirta: “Plans affecting the personnel are always difficult, but we need to continue our decisive actions to increase efficiency and reduce costs until we reach sustainable profitability.”
The statutory negotiations with employee representatives are estimated to start in June, and the planned job reductions are expected to take place by the end of September.