Monday 19 April 2021

Metso Outotec completes Metals business reorganisation

Helsinki, FInland, March 4, 2021

Metso Outotec has said it completed the reorganisation of its Metals business as part of the turnaround program announced in the fourth quarter of 2020.
As a result, the segment’s operational model has been adjusted to better meet customer needs, as well as the scale and nature of the business today, the company said in a statement. 
When the negotiations related to the reorganisation started on December 9, 2020, the estimated need for reduction was a maximum of 160 permanent redundancies in the Metals operations globally, including up to 60 redundancies in Finland.
As a result of the negotiations, approximately 100 jobs will be reduced globally, including 15 in Finland. Most of the global reductions are through redundancies and the rest through other arrangements, such as retirements, non-renewal of fixed-term contracts, and voluntary resignations. In addition, over 50 employees who were in the scope of the Metals reorganisation will continue in Metso Outotec in other parts of the company.
”The reorganisation of the Metals business aims for annual savings of EUR 15 million ($18.1 million). During the negotiations, we carefully evaluated all opportunities with the target to find the best possible options to meet the needs of our customers and employees. The now completed reorganisation empowers the Metals business lines for efficient use of resources and faster decision-making,” said Jari Ålgars, President, Metals business area at Metso Outotec.—TradeArabia News Service


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