Paper and packaging company Stora Enso aims to cut 600 employees.
Some 300 jobs will be lost at the Swedish newsprint production facilities of Hylte and Kvarnsveden, which jointly produce around half a million tons of paper per year.
Around 100 jobs are under threat in Finland, with personnel reductions projected at the Honkalahti and Kitee sawmills.
Around 200 more are set to lose jobs in other countries. Stora Enso hopes the measures will produce savings of 54 million euros annually.
The company said that structural weakening of the demand for newsprint is responsible for the changes.