Metsä Board is preparing the grounds for a possible continuation of commercial downtime at the containerboard, cartonboard and BCTMP mills in Finland in 2024. The measures are aimed at matching output to weak demand and low deliveries.
In week 45, Metsä Group's paperboard subsidiary Metsä Board will start negotiations on temporary layoffs for approximately 1,100 employees at the company's Joutseno, Kaskinen, Kemi, Kyro, Tampere, Simpele and Äänekoski mills in Finland. "The possible layoffs would last a maximum of 90 days and could be implemented in several instalments during 2024," Metsä Board announced.
With the temporary layoffs and reduction in output Metsä Board is set to respond to a continuation of the current, weak demand situation for paperboards also in the next year. The allocation and amount of layoffs would be specified during 2024, the company said. The possible layoffs announced for 2024, will have no impact on Metsä Board's operating results in the fourth quarter and full-year 2023, Metsä Board stressed.
Metsä Board had decide on a series of similar measures for 2023 back in May 2023. As "the paperboard industry’s global market environment will remain uncertain, and the visibility of near-term paperboard sales development remains weak" the company will continue with production adjustment measures and the temporary layoffs of personnel at the Finnish mills in the last quarter of 2023, Metsä Group explained when presenting its Q3 2023 results.
