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 Paper And Paper Products 17.21 - Manufacture Of Corrugated Paper And Paperboard And Of Containers Of Paper And Paperboard
262 jobs Number of planned job losses
Announcement Date
3 April 2024
Employment effect (start)
22 May 2024
Foreseen end date
22 February 2025
Description
The Finnish and Swedish company Stora Enso has announced that they will initiate cooperation negotiations, that will affect approximately 1,900 employees. A maximum of 262 employees are at risk of being made redundant. The negotiations are taking place at five of the mills in Finland: Imatra, Oulu, Anjalankoski, Varkaus, and Heinola. The internal restructuring is part of Stora Enso's program to increase its profits and its long-term role as a competitor in the market, which was announced by the company in February.
The negotiations are expected to be carried out during 6 weeks starting mid-April.
Stora Enso is one of the largest private forest owners in the world and is a provider of renewable products in packaging, biomaterials, and wooden construction. Their headquarters lies in Helsinki, and the company has approximately 22,000 employees worldwide.
Stora Enso has gone through several unit closures recently. In June 2023 the company announced the closure of its Sunila unit (Stora Enso 2023 - FI). During the same month, the negotiations of another closure ended, also resulting in redundancies (Stora Enso 2023 - FI).
Sources
3 April 2024: Yle - Stora Enso aloittaa muutosneuvottelut Imatran, Oulun ja Anjalankosken tehtailla – 185 voidaan irtisanoa (yle.fi)
4 April 2024: Yle - Stora Enso käynnistää muutosneuvottelut Varkauden pakkauskartonkitehtaalla – vähennystarve jopa 40 työntekijää (yle.fi)
Eurofound (2024), Stora Enso, Internal restructuring in Finland, factsheet number 201040, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201040.
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