Swedish packaging paper and board company expects positive impact on earnings of SEK600m with full effect 2021.
In order to "ensure its long-term efficiency and profitability", Billerud Korsnäs is starting a cost reduction programme, including staff cuts, purchasing-related savings and efficiency improvements.
"As part of the programme, Billerud Korsnäs has decided to reduce the number of employees by up to 300. This decision affects the entire operations and negotiations with the trade unions will begin shortly," the company announced. According to Billerud Korsnäs, the cuts will mainly affect administrative jobs.
Billerud Korsnäs expects the positive SEK600m effect on earnings to be fully available as of 2021. For 2020, the results improvement is estimated at approximately SEK250m.
This article is an excerpt from our article on Billerud Korsnäs which will be published in EUWID Pulp and Paper 38/2019 on 18 September.
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