Metsä Group confirms major staff cuts as softwood lumber market remains weak

Metsä Group has concluded the change negotiations in Finland that began in October as part of its extensive cost-saving programme. Outside Finland, the negotiations are still partly ongoing. As a result, 520 positions will be terminated, of which up to 440 will be redundancies. The figures include reductions at Metsä Board, the listed subsidiary of Metsä Group. According to the company, the cuts will be distributed fairly evenly across Finland. “This is a very unfortunate development for our entire work community. However, it is a necessary part of the turnaround in results we are aiming for. Our ...