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
Five last month
Two last year
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Gold price surge adds glitter to tarnished miners
Traders see gold as a surefire bet as coin-toss election looms
Gold price shows little reaction to jobs data
Anglo American sells Australian coal JV stake for $1.1 billion
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Euro Sun, Glencore enter MOU for offtake on Rovina Valley project
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years