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

2,500 jobs
Number of planned job losses
Job loss
Announcement Date
18 June 2013
Employment effect (start)
Foreseen end date

Description

On 18 June 2013, Finnish-Swedish pulp and paper manufacturer Stora Enso announced its plan to reduce its workforce by approximately 2,500 staff globally. In a bid to cut costs the company also plans to cut 650 jobs in Finland, 750 jobs in Sweden, 850 jobs in Europe (i.e. France) (excluding Nordic countries) and 250 jobs outside Europe.

According to the company, the exact number of job cuts will depend on the outcome of co-determination negotiations and processes. Information on the timeline of the redundancies has yet to be published.

Stora Enso currently employs around 30,000 staff across 35 countries. The company, which has headquarters in Helsinki, carried out job reduction measures in 2012 (see here).


Sources

  • 18 June 2013: ORF
  • 18 June 2013: Bloomberg business week
  • 18 June 2013: Stora Enso (press release)
  • 18 June 2013: The Wall Street Journal

Citation

Eurofound (2013), Stora Enso, Internal restructuring in World, factsheet number 75523, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75523.