Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Wood And Paper Materials
Manufacture Of Paper And Paper Products
17 - Manufacture of paper and paper products

1,600 jobs
Number of planned job losses
Job loss
Announcement Date
11 September 2008
Employment effect (start)
Foreseen end date
31 December 2010

Description

UPM-Kymmene, a Finnish pulp and paper manufacturer, has announced a cost reduction programme that will involve layoffs of 1,600 employees worldwide. The staff reduction will affect mainly operation units in Finland where non-profitable paper mills may be closed. Overall restructuring measures are to be implemented in the period 2009-2010. UPM-Kymmene currently employs 27,000 people in 14 countries.


Sources

  • 11 September 2008: Hospod├írske noviny

Citation

Eurofound (2008), UPM Kymmene, Internal restructuring in World, factsheet number 67070, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67070.