All the 1300 employees of Finnish cars and other industrial products manufacturer Valmet Automotive will be affected as the company is initiating change negotiations on financial and production-related grounds, said the company in a press release on Tuesday.
The estimated need for adjustments is at most 1075 person-years.
The employer is considering adjustment measures such as temporary layoffs, terminations of jobs, and changes to job descriptions.
The downturn in the European automotive industry has impacted the company’s financial performance and reduced the amount of work at the Uusikaupunki plant, said the company.
On the other hand, Valmet Automotive’s recent strategic decision to offer the company’s contract manufacturing expertise to other industries, including the defense sector, has not yet been reflected in the company’s order book.
“Starting change negotiations was a difficult but necessary decision. At the beginning of September, we announced our new strategic direction, which outlines that we will utilize our expertise also beyond the automotive industry in the future, including the defense sector. This will create new pillars for our business going forward and stabilize our operations in the long term. However, at the moment, the amount of work in the manufacturing business is unfortunately decreasing”, said Pasi Rannus, Chief Executive Officer of Valmet Automotive.
- Valmet Automotive
- Cuts
- Jobs
Source: www.dailyfinland.fi
