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 17.21 - Manufacture of corrugated paper and paperboard and of containers of paper and paperboard
94 jobs Number of planned job losses
Announcement Date
4 August 2016
Employment effect (start)
Foreseen end date
Description
Finnish paperboard and wallpaper manufacturer Metsä Board has initiated employer-employee negotiations aiming to cut up to 100 employees at the Kyro mill in Hämeenkyrö, Finland. The reason for the redundancies is a reduced demand for wallpaper. Furthermore Metsä Board is planning to focus on its core business operation, the manufacturing of paperboard.
Metsä Board has expressed a need to increase the competitiveness of the whole Kyro mill, and therefore all employees at the Kyro mill will be affected by the internal restructuring, not only the ones working with the PM3 wallpaper machine which will be shut down. Negotiations will begin during the next week.
Metsä Board has a total of 2,600 employees world wide and 250 employees at the Kyro mill in Hämeenkyrö.
Updated, 10/10/2016; On 29 September 2016 Metsä Board announced that the employer-employee negotiations have been concluded and have resulted in 94 redundancies at the Kyro mill. The PM3 wallpaper machine will be shut down leading to a non-recurring net cost of €9 million. Metsä Board estimates that the closure will lead to a positive cash impact of €10 million.
Sources
4 August 2016: Company press release
4 August 2016: Proliitto
29 September 2016: Metsä Board (company press release)
Citation
Eurofound (2016), Metsä Board, Internal restructuring in Finland, factsheet number 88322, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88322.
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