HELSINKI, FINLAND--(Marketwire - Nov 13, 2012) - Metso Corporation's stock exchange
release on November 13, 2012 at 9.30 a.m.
Metso has concluded the statutory employer-employee negotiations covering
personnel in its units serving the paper industry. As a result of these
discussions, 400 employees will be reduced and a further 136 positions will
outsourced in Finland.
The statutory employer-employee negotiations initiated in Metso units
the paper industry in September this year and covering personnel reductions
layoffs have ended. Following the negotiations, which involved a total of
approximately 4,100 employees, Metso has decided to reduce 400 jobs and
outsource a further 136 positions. A total of 152 employees will take
and 15 will transfer to new positions in other Metso units. At the start of
negotiations on September 18, it was estimated that a maximum of 480
would be affected, and around 150 positions likely to be outsourced.
As a result of the negotiations temporary layoffs will only be implemented
they are required by the low production and order book in 2013. Temporary
layoffs could affect jobs in units serving the paper industry in Juankoski,
Jyväskylä, Järvenpää, Raisio, and Valkeakoski.
Metso will assist those affected through a comprehensive program aimed at
helping them to set up their own company as well as retrain and find new
The redundancies and outsourcing that have been decided on are intended to
achieve savings of approximately EUR 25 million in annual operational
Cost reductions in 2013 are expected to yield savings of approximately EUR
"It's very unfortunate that we have been forced to implement such
large-scale measures affecting our personnel," says Pasi Laine, President
of Metso's Pulp,
Paper and Power segment. "By working closely and proactively with employee
representatives, however, we will try to minimize the impact of the
through a comprehensive program aimed at helping people find new
Metso's decision to make these reductions in personnel is the result of the
to adjust the manufacturing capacity of the Group's paper business unit to
permanent structural changes that have impacted the business and weakened
competitiveness and profitability.
As a result of restructuring, Metso will book non-recurring cost of around
10 million in its fourth quarter results.
Metso's pulp, paper and power professionals specialize in processes,
equipment, services, paper machine clothing and filter fabrics. Our
experience cover the entire process life cycle including new production
rebuilds and services.
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power,
oil and gas. Our 30,000 professionals based in over 50 countries deliver
sustainability and profitability to customers worldwide. Expect results.
www.metso.com , www.twitter.com/metsogroup
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
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Source: Metso Corporation via Thomson Reuters ONE