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 be
outsourced in Finland.
The statutory employer-employee negotiations initiated in Metso units serving
the paper industry in September this year and covering personnel reductions and
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 retirement
and 15 will transfer to new positions in other Metso units. At the start of the
negotiations on September 18, it was estimated that a maximum of 480 employees
would be affected, and around 150 positions likely to be outsourced.
As a result of the negotiations temporary layoffs will only be implemented if
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 jobs.
The redundancies and outsourcing that have been decided on are intended to
achieve savings of approximately EUR 25 million in annual operational costs.
Cost reductions in 2013 are expected to yield savings of approximately EUR 20
"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 redundancies
through a comprehensive program aimed at helping people find new employment."
Metso's decision to make these reductions in personnel is the result of the need
to adjust the manufacturing capacity of the Group's paper business unit to the
permanent structural changes that have impacted the business and weakened its
competitiveness and profitability.
As a result of restructuring, Metso will book non-recurring cost of around EUR
10 million in its fourth quarter results.
Metso's pulp, paper and power professionals specialize in processes, machinery,
equipment, services, paper machine clothing and filter fabrics. Our offering and
experience cover the entire process life cycle including new production lines,
rebuilds and services.
www.metso.com/pulpandpaper, www.metso.com/power, www.twitter.com/MetsoPulpPaper
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power, and
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
For further information for the press, please contact:
Pasi Laine, President, Pulp, Paper and Power, Metso, tel. +358 20 484 3200
Jari Vähäpesola, President Paper Business Line, Pulp, Paper and Power, Metso,
tel. +358 40 558 6555
Further information for investors, please contact:
Juha Rouhiainen, VP, Investor Relations, Metso Corporation, tel +358 20 484 3253
VP, Investor Relations
NASDAQ OMX Helsinki Ltd