US EditionValmet Automotive Cuts 235 Jobs, Furloughs 860
Valmet Automotive is cutting 235 jobs and furloughing 860 employees to improve profitability amid fluctuating production volumes, affecting nearly all of its 1,300 Finnish workforce.
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Valmet Automotive to cut 235 jobs and furlough 860 in Finland
Finnish car manufacturer Valmet Automotive will reduce its workforce by up to 1,030 person-years following the conclusion of restructuring talks. The company confirmed the move on Tuesday, announcing the layoff of 235 workers and the temporary furlough of as many as 860 staff members. The measures affect nearly the entire Finnish workforce of around 1,300 employees. The company said some of the furloughs will be implemented on a part-time basis.…
However, the company estimates that the reduction in work will only be temporary.
The negotiations covered personnel working throughout Finland. Valmet Automotive, which focuses on the manufacture of passenger cars and other industrial contract manufacturing, has completed its change negotiations, the company announces. The company will lay off a maximum of 860 people. According to the release, some of the layoffs will be part-time. In addition, Valmet will terminate a maximum of 235 employment relationships.
In the future, it is expected that automobile manufacturing will be replaced by, for example, defense industry manufacturing.
Valmet Automotive reports on the results of change negotiations. The negotiations included the company's entire personnel operating in Finland.
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