Outotec starts employee cooperation negotiations in Finland
Outotec will start employee cooperation negotiations about the restructuring and possible reduction of workforce with the entire personnel in Finland.
As part of Outotec's global cost structure program targeting EUR 70 million annualized savings in fixed costs (stock exchange release on November 20, 2015), the company is analyzing the resourcing needs and restructuring opportunities in its operations in Finland. Outotec will start employee cooperation negotiations about the restructuring and possible reduction of workforce with the entire personnel in Finland.
The effects of the considered restructuring on different locations will be determined by mid-January 2016. The restructuring may lead to the reduction of maximum 160 permanent employees in Finland through redundancies and other arrangements. In addition, non-renewal of fixed-term contracts and, depending on capacity utilization, temporary lay-offs may be used to achieve the targeted savings.
The temporary lay-offs in Turula and Lappeenranta manufacturing facilities in Finland, started during the previous EUR 45 million savings program, will continue.
"The global market in minerals and metals processing has further weakened during the recent months. Therefore we need to adjust our operations and improve our cost structure correspondingly. The actions we need to take are tough but necessary to ensure our competitiveness in the challenging market situation", says Outotec's CEO Pertti Korhonen.
Outotec employs approximately 1,350 persons in Finland.
source: Outotec
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
