The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.2 - Manufacture Of Products Of Wood, Cork, Straw And Plaiting Materials
66 jobs Number of planned job losses
Announcement Date
6 September 2023
Employment effect (start)
11 September 2023
Foreseen end date
16 October 2023
Description
Finnish producer of paper and wood products, MM Kotkamills will start cooperation negotiations affecting 66 office workers and mill workers in Kotka. The effects of the negotiations could include temporary lay-offs, staff reductions or even the closure of the entire sawmill.
The financial situation of the sawmill has worsened due to higher raw material prices and lower construction activity, while the prices of sawn timber have fallen. This in turn has had a negative impact on sawn timber exports.
The negotiations will last at least six weeks, while Kotkamills' other units will continue to operate normally.
MM Kotkamills is a paperboard and folding carton manufacturer that employs around 550 people in Finland.
Eurofound (2023), MM Kotkamills, Internal restructuring in Finland, factsheet number 200289, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200289.
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