Outotec introduced an efficiency improvement program on October 17, 2013 targeting up to EUR 50 million annualized savings in operating costs by the end of 2014 compared to the Q3/2013 situation. The company has achieved the targeted savings at the end of September 2014 and closes now the program. The one-time costs from the program were EUR 28 million.
As a result of the efficiency improvement program, voluntary resignations and retirements Outotec’s personnel has been reduced in total by 570 persons (212 in services, 358 in capex business and shared functions). The services personnel reductions relate to ramp-down of some low profitability service contracts. At the same time, recruitments to service business (468), especially to operation and maintenance at new customer sites, as well as product development (49) and acquisitions (23) increased the headcount by 540 persons. In total, this resulted in a net reduction of 30 persons since September 2013.
Outotec provides leading technologies and services for the Sustainable use of Earth’s natural resources. As the global leader in minerals and metals processing technology, we have developed many breakthrough technologies over the decades for our customers in metals and mining industry. We also provide innovative solutions for industrial water treatment, the utilization of alternative energy sources and the chemical industry. Outotec shares are listed on NASDAQ OMX Helsinki. www.outotec.com