Finnish mining and metal manufacturing equipment provider Outotec has announced that it has completed employee cooperation negotiations regarding the restructuring and possible reduction of its workforce in Finland. At the beginning of the negotiations on November 20, 2015, the estimated need for reduction was a maximum of 160 permanent jobs. As a result of the negotiations, Outotec will cut its workforce in Finland by a total of 150 jobs, including 105 permanent jobs through redundancies and the rest through other arrangements, such as non-renewal of fixed-term contracts, retirement arrangements and voluntary leavers. Most of the reductions will be completed by the end of January 2016.
Outotec will also adjust production capacity during 2016 through temporary layoffs in the Turula and Lappeenranta units. Possible temporary layoffs in other locations depend on the development of the market environment and Outotec's order intake. The measures are part of Outotec's global cost structure program targeting €70 million annualized savings in fixed costs, announced on November 20, 2015.