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Home BUSINESSMetso to cut jobs of 750 employees
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Tue, 06 Aug, 2013 01:22:44 AM
FTimes-STT Report, August 06
Metso's logo on the company's head office in Helsinki. Photo - Lehtikuva.
Engineering company Metso has started a move to reduce 750 manpower by September this year and save EUR 50 million.
 
The Company authority on Monday said that negotiation has already started to reduce the manpower through termination, internal transfer, sending the employees to early retirement under pension scheme and closing office units.
 
“Most of the manpower reduction will take place in Finland in the process that started in July and expected to end by September,” a high official of the management Pasi Laine told on Monday, adding that the process would be completed through  a negotiation with the employees leaders.
 
Top officials of the company in front of the factory office.Photo - Lehtikuva.
Earlier, the company in its interim financial report of second quarter said that it would go for a programme to save EUR 100 million by the year 2016.
 
In the financial report, Metso authority said that a total of 5000 employees are working in Finland and 12,500 at its pulp, paper and power engineering units in rest of the world.
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