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 - Manufacture of paper and paper products
135 jobs Number of planned job losses
Announcement Date
22 March 2023
Employment effect (start)
22 March 2023
Foreseen end date
30 June 2023
Description
UPM, a Finnish pulp and paper manufacturer headquartered in Helsinki, has announced the elimination of 135 jobs at its Schongau (Bavaria) site by 30 June 2023.
The reason given for the job cuts is the declining demand for graphic paper in recent years. As a result, the annual production capacity is to be reduced. According to the company, the job cuts are to be made through natural fluctuation, if possible, in order to manage with as few redundancies as possible. The capacity adjustment is to take place by the end of June 2023.
UPM Schongau employs about 490 people. Worldwide, the company employs 17,200 people in 11 countries.
Eurofound (2023), UPM, Internal restructuring in Germany, factsheet number 108804, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108804.
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