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Home BUSINESSValio plans to cut 320 jobs
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Sat, 18 Apr, 2015 12:10:14 AM
FTimes – STT Report, April 18
 
Valio's logistics center in Riihimäki. Photo – Lehtikuva.
firm Valio is planning to shrink its workforce by up to 320 person-years.
 
The statutory negotiations will concern its production and logistic departments. Some other operations in its headquarters will also be covered under the co-determination talks.
 
Valio has cited huge changes in the production sectors and volume in the past year as the reason for the envisaged reductions.
 
According to the company, the export embargo by Russia has reduced its revenue by about one-fifth.
 
In a statement, Mika Koskinen, the head of the company's Russia and Eastern markets said exports to Russia is still at a standstill and the uncertainty is likely to continue for a long time.
 
The statutory negotiation is estimated to cover about 2,900 employees.
 
Valio employs about 3,000 people in the country.
 
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