HELSINKI,
May 13, 2009
(Press Release) -
Metso has concluded the personnel negotiations started on March 30, 2009, regarding the adjustment of Metso Power Oy's business to the weakening global market situation.
As a result of these negotiations, Metso Power Oy will reduce altogether 81 employees, out of which the share of temporary employment contracts, pension and other arrangements as well as internal transfers within Metso is 66 employees. Fifteen employees will be made redundant.
Additionally, the parties have agreed on possibly needed temporary lay-offs, the duration of which will be defined according to the work load of various operations.
The employee reductions and temporary lay-offs will start in May 2009 and will be concluded by the end of the year 2010.
Savings in business costs will be searched for through other measures, too. It is expected that the targeted savings will be reached through the above reductions, voluntary off-time, replacement of the holiday compensation with off-time as well as planned savings in travel and rent expenses.
The negotiations affected all of Metso Power Oy ´s personnel in Tampere, Lapua and Vantaa, Finland, a total of approximately 840 people. The negotiations did not affect the Finnish business of MW Power, which is a joint venture between Metso and Wärtsilä.
The primary reason for the adjustment need is the pulp and paper industry's structural change, which has weakened the demand for chemical recovery line equipment. The global economic crisis has slowed down decision-making regarding power plant investments in the energy industry.
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