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Outokumpu Continues to Streamline Stainless Operations
05/01/2012 - Outokumpu has announced additional measures that are expected to result in the reduction of 150 to 200 jobs in General Stainless and certain functions in Tornio as well as the Group’s Terneuzen unit in The Netherlands.
Outokumpu has announced additional measures that are expected to result in the reduction of 150 to 200 jobs in General Stainless and certain functions in Tornio as well as the Group’s Terneuzen unit in The Netherlands.
Outokumpu said the measures support its ongoing effort to improve operational efficiency and reach sustainable profitability. The Group expects the majority of the planned job reductions to take place in Finland.
“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,” said CEO Mika Seitovirta.
The company estimates that statutory negotiations with employee representatives should start in June, with planned job reductions expected to take place by the end of September.
Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Outokumpu employs some 8,000 people in more than 30 countries, and the Group’s head office is located in Espoo, Finland.
