Metso Outotec mulls 160 redundancies for metals 'restructuring'

Finnish mining engineering group plans up to 160 redundancies in its metals operations globally, as part of a reorganisation of the division that the company says will save it €15 million (US$18 million).
Metso Outotec mulls 160 redundancies for metals 'restructuring' Metso Outotec mulls 160 redundancies for metals 'restructuring' Metso Outotec mulls 160 redundancies for metals 'restructuring' Metso Outotec mulls 160 redundancies for metals 'restructuring' Metso Outotec mulls 160 redundancies for metals 'restructuring'

Metso Outotec headquarters in Espoo near Helsinki

Metso Outotec said that the proposed cuts are part of a "turnaround programme" announced at a strategy meeting in October.

"The restructuring and turnaround program aims to improve Metals' competitiveness and financial performance as well as ensure more granular management of the various businesses and resources," said says Jari Ålgars, president, Metals business area at Metso Outotec. "The restructuring will enable us to size and scope our offering and resources in a more efficient way."

The company said no more than 60 Finland-based employees in its metals division are at risk of redundancy - it has 1,100 employees working in the division around the world that are within the scope of these job cut plans. Decisions will be taken in the first quarter of 2021.

The metals restructuring plans come after the company announced in October that a maximum of 254 jobs would be lost at domestic operations to meet savings targets after the merger of Metso Minerals and Outotec.