Metsä Group initiates a cost savings programme
Metsä Wood, part of Metsä Group, will initiate a cost savings programme. The reasons for this are the unsatisfactory development of profitability over the last few years and the declining sales on the main market areas, according to the company.
Metsä Wood operations will be reorganised by merging the Plywood and
Building Products business lines into a Building and Industry business
line. The Timber and Upgrades business line will continue to do
business in its existing form. The company is proposing to initiate new adaptation measures in all UK Timber and Upgrades business units. These measures could affect in a reduction of up to 150 jobs. At the same time, Metsä Wood will continue its activities to increase sales and to ensure more efficient customer service.Based on the cost savings programme the maximum headcount reduction is not expected to exceed 255, of which an estimated 95 in Finland. Metsä Wood will launch statutory labour negotiations on 22 April 2013 in Finland.