Valmet Automotive to Cut 235 Jobs, Temporarily Lay Off 860 Staff in Finland
Finnish automotive and industrial manufacturer Valmet Automotive announced on Tuesday that it will terminate 235 employees and temporarily lay off 860 more, following the conclusion of codetermination talks that began in September. Some of the layoffs will be part-time, with the total impact of the reductions equivalent to a maximum of 1,030 person
-years. The negotiations involved all 1,300 Valmet Automotive employees in Finland. The company said the restructuring is aimed at aligning staffing levels with current demand, improving profitability and competitiveness, and securing its ability to implement strategic plans for the future. “Our aim in the change negotiations was to work together with employee representatives to find solutions that best take into account the interests of both the personnel and the company, to preserve our unique expertise in industrial serial production, and to take into consideration the needs of our new strategic direction,” said CEO Pasi Rannus.