Finland Times

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Home BUSINESSOutotec to terminate 500 employees
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Fri, 18 Oct, 2013 12:06:41 AM
FTimes-STT Report, October 18

 

A  leading technology company of the country, Outotec on Thursday decided to cut 500 jobs at different parts of the world including 60 in Finland with the view to save expenditure of EUR 500 million.

The company authority took the decision following the unstable economical situation in the global market, company sources said.

The company already started negotiation  with the employees in this regard as the sales of the products turned into much lower compared to the estimated amount, said sources.

Most of the termination task will be completed by this year, said the company officials, adding that presently about 5,000 workers are working there at different countries in the world.

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