Finnish paper and packaging company Valmet has announced the commencement of negotiations as it aims to restructure its Services and Paper divisions within the Europe, Middle East, and Africa (EMEA) region, and corporate functions.
This move is aimed at enhancing profitability and competitiveness in response to evolving market conditions.
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The proposed plan will primarily affect operations in Finland and Sweden, and involves the restructuring of organisational structures, the development of new working forms, and the adjustment of personnel levels to match work demands.
The plan’s preliminary estimates suggest permanent and temporary layoffs, with approximately 130 positions to be reduced permanently.
However, the full scope and details of the potential layoffs will be determined through the negotiation process.
Valmet is a provider of technologies, automation, and services for the pulp, paper, and energy industries. It employs about 6,900 individuals in Finland and 1,800 in Sweden.
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By GlobalDataThe company has more than 19,000 employees across the globe.
In 2023, Valmet reported net sales of approximately €5.5bn ($5.9bn).
In its financial statements review for 1 January to 31 December 2023, Valmet said that orders received decreased 17% to €1.15bn against €1.38bn in the prior year.
Recently, the company received an order for electrostatic precipitators from Nordic Paper for its paper mill in Kristinehamn, Sweden.
