Restructuring events
European Restructuring Monitor (ERM)
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.
Finnish paper manufacturer UPM is to cut 110 jobs. It has decided to shut down its Lahti plywood mill, and 110 employees will be laid off permanently. In addition, the personnel of Kaukas mill in Lappeenranta will be temporarily laid-off for 90 days.
UPM will transfer the plywood processing operations from its Lahti processing mill to the company's other plywood mills. The reason for these decisions is the further weakened market situation of plywood. The aim is to ensure the profitability of the operating plywood mills.
The efficiency of the plywood mills will be increased by transferring the further processing operations from Lahti to Jyväskylä, Savonlinna and Joensuu mills, which produce also base panels. At Lahti mill some 110 employees will be laid off. The possibility to move to work in other UPM mills will be investigated.
During the lay-off period at Kaukas plywood mill, the manufacturing of uncoated and coated WISA plywoods will be transferred from Kaukas mainly to Joensuu and Savonlinna mills. The Kaukas mill employs some 320 people. UPM is investigating possibilities to arrange training for the employees during the temporary lay off.
Eurofound (2009), UPM, Internal restructuring in Finland, factsheet number 68815, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68815.