UPM to restructure Wood Sourcing and Forestry activities
After starting restructuring measures for the Paper Europe and North America business area and the Finance & Control activities, UPM plans to cut up to 230 jobs in the Wood Sourcing and Forestry activities as well as other Global Functions’ operations.
UPM-Kymmene Corp. today announced plans to adjust the UPM Wood Sourcing and Forestry activities as well as other Global Functions’ operations. In total, the new plans announced are estimated to impact a maximum of 230 positions, of which 150 in Finland and 80 in other countries.
In August 2013, the company unveiled its new business structure and launched a €400m performance improvement programme. As part of this programme, UPM started to reorganise its Finance & Control operations as well as the Paper Europe and North America business area.
The restructuring of Finance & Control activities will lead to 150 job cuts, UPM announced. The company is currently conducting employee consultations with employee representatives in its Paper Europe and North America business area. According to the plans announce in August, UPM expects to axe 860 jobs in various countries.
The performance improvement programme, however, seems to be bearing its first fruit: in the third quarter, profitability recovered thanks to the decrease in fixed and variable costs, together with determined cost reduction measures and seasonally higher delivery volumes.