Metso’s Pulp, Paper and Power segment will reduce its worksforce in order to put through a €100m cost reduction program.
Metso will reduce its staff by a total of 660 positions. This measure is part of a program to reduce annual costs in the Pulp, Paper and Power segment of approximately €100m by 2016. The cost savings for 2013 are estimated to be €5m.
The Finnish technology supplier seems to have to face further challenges: In addition to personnel reductions, temporary layoffs might also be possible if required by the business' workload or financial situation. This possibility will remain in force until the end of 2014, by which time the situation will have been reviewed. The possibility of temporary layoffs affects all units serving the paper industry.