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 17.1 - Manufacture of pulp, paper and paperboard
365 jobs Number of planned job losses
Announcement Date
28 May 2019
Employment effect (start)
Foreseen end date
31 December 2020
Description
Finnish-Swedish forest industry company Stora Enso has concluded employer-employee negotiations concerning the entire personnel of around 600 people at the site of Oulu Mill. As a result, 365 jobs will be lost. Up to one-fifth of the redundancies can be carried out through pension arrangements.
Due to the decrease in graphic paper demand, production at the Oulu Mill is shifting from paper to paperboard. The company will invest €350 million to convert the paper mill into packaging board production. Paper machine no. 6 as well as the sheeting plant will be closed. The process is expected to be finalised by the end of 2020.
According to Stora Enso, the company will ‘provide support to the people who will not continue working at the Oulu Mill after the conversion’. The president of the Finnish Paperworkers’ Union urged the company to make personalised re-employment plans for everyone who loses their jobs.
Eurofound (2019), Stora Enso, Internal restructuring in Finland, factsheet number 97898, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97898.
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