M-real is to close its unprofitable Lielahti Mill in Tampere with the loss of 60 jobs.
Production on one paper machine at the Kangas mill in Jyväskylä will be stopped with a total of 80 job losses. The company says measures to improve profitability of the mill have proved inadequate; the rising cost of wood is also to blame.
M-real's restructuring programme also includes some 300 redundancies outside Finland.
Although the projected cuts will not directly affect company turnover, the restructuring programme aims at streamlining the production chain in several sectors.
M-real started the first phase of a restructuring programme last year. The firm has more than 12,000 employees, over 10,000 of them outside Finland.