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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.95 - Manufacture Of Machinery For Paper And Paperboard Production
130 jobs Number of planned job losses
Announcement Date
15 February 2024
Employment effect (start)
15 February 2024
Foreseen end date
Description
Valmet, Finnish provider of technologies, automation, and services for the pulp, paper, and energy sectors, has announced that it plans to cut about 130 jobs worldwide.
The restructuring is expected to have a significant impact on the company's operations in Finland and Sweden. For both countries, no specific number of jobs to be cut is available as of now. The conditions of the programme are negotiated with employee representatives according to local regulations.
The measure aims at restructuring Services and Paper divisions within the EMEA (Europe, Middle East, Africa) region. The company wants to improve its operational profitability and adapt to the shifting market landscape. The programme includes revising organisational structures, optimizing operational processes, and adjusting workforce levels to the current business needs.
Valmet employs about 6,900 people in Finland and 1,800 in Sweden. Globally, the company employs more than 19,000 staff.
Eurofound (2024), Valmet, Internal restructuring in World, factsheet number 200858, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200858.
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