Redundancies will be made in Espoo, Pori, Lappeenranta and Turku operations due to reduced workload and restructuring. Most of the reduction measures will be completed in Finland by the end of 2013. Outotec offers financial support for the persons made redundant as well as training programs to support re-employment and entrepreneurship.
In addition to personnel reduction, temporary lay-offs will take place in the Turula works and may also be used in other locations during 2014 to achieve the targeted savings, depending on the development of the market environment and Outotec’s order intake.
The negotiations were part of Outotec’s global efficiency improvement program, launched in October 2013 and targeting up to EUR 50 million annualized savings in operational costs by the end of 2014 compared to the Q3/2013 situation. The estimated reduction need globally was maximum 500 employees.
Further information will be provided during the course of the efficiency improvement program and the achieved savings will be reported quarterly.
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, Outotec has developed many breakthrough technologies over the decades. The company also provides 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