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Pöyry to reduce staff and cut costs in Finland

Nov 1 2010  Pöyry has given the first indications of its planned efficiency improvement program in Finland. The number of employees will be reduced by 250-350 persons, and the targeted annual cost savings are estimated at 10-15 million Euros.

On 14 October, Pöyry announced an operational excellence program that aims at improving the efficiency of operations. The Group-wide program will be implemented during 2010-2012. Pöyry also announced that the program will be started in Finland, where the need for structural changes and streamlining of the organization is most imminent. In this conjunction Pöyry also announced it will initiate statutory employee negotiation in all its Finnish operations.The first indications of the possible impacts on the organization and capacity have now been estimated. The planned reduction in capacity is estimated to correspond to 250-350 persons. The targeted annualised cost savings are 10-15 million Euros. In addition, the future outlook for the workforce of about 200 persons, temporarily laid off, will be carefully considered.The related restructuring costs are estimated to be in the range of six to ten million euros. Implementation of the efficiency improvement measures in Finland is expected to take about six to nine months.

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