Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The pulp and paper engineering and technology corporation Metso Paper has brought to a conclusion the personnel negotiations initiated at its seven Finnish locations on October 11, 2007. As a result of the negotiations, aimed at enhancing Metso Paper’s competitiveness, a personnel reduction of 210 persons in total will be carried out in Anjalankoski, Hollola, Jyväskylä, Järvenpää, Karhula, Turku and Valkeakoski. The Karhula unit will be closed, and its responsibilities transferred to other units of the Paper and Board business line.
The measures will begin to take place in the first half of 2008 and their completion will take some 6-18 months, depending on location and individual cases. The employment terminations consist of pension arrangements, discontinuation of temporary employment relationships and redundancies. Some of the personnel concerned can be offered jobs in other Metso units.
The pulp and paper engineering and technology corporation Metso Paper started personnel negotiations on 11th of October 2007 that affect its certain units in its Paper and Board business line in Finland. The primary aim of the negotiations was to agree on measures to enhance Metso Paper’s competitiveness. It was estimated that the personnel reduction need is 170 to 220 employees in total. The measures were to affect all employee groups and units in seven locations in Finland; Anjalankoski, Hollola, Jyväskylä, Järvenpää, Karhula, Turku and Valkeakoski.
The measures now initiated are connected to Metso Paper’s restructuring process that was carried out in summer 2007. The target is to eliminate overlapping operations and to develop and strengthen sales and services closer to customers within the Paper and Board business line. The non-recurring expenses related to the measures are estimated to be non-material to Metso. A more precise estimate of the expenses and savings can be made after the negotiations are concluded.
The personnel negotiations were be conducted at each location and possible reductions were estimated to take place during the first half of 2008.
Metso Paper employs approximately 12,000 people, of which some 4,000 work in the Finnish units of the Paper and Board business line.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. It has more than 26,000 employees in more than 50 countries serving customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
Eurofound (2007), Metso Paper, Internal restructuring in Finland, factsheet number 65902, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65902.
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