Finnish engineering and manufacturing firm Valmet has announced that 112 of its employees will lose their jobs, following the conclusion of restructuring talks.
When Valmet announced the beginning of talks with staff representatives at the start of September, it said about 200 jobs were on the line.
In a press release, the company said that in addition to the redundancies, the restructuring will see temporary layoffs, the termination of some fixed-term contracts, as well as trasferring a number of employees internally to other roles.
"The Board and Paper Mills business unit will implement temporary layoffs lasting up to 90 days during the first half of 2025," the statement said, adding that the changes are necessary in order to improve the "profitability and competitiveness of the business operations".
Valmet employs approximately 6,600 people in Finland and more than 19,000 people worldwide.
Edited for clarity.
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