Stora Enso completes co-determination negotiations at Veitsiluoto site
STORA ENSO OYJ INVESTOR NEWS 17 June 2021 at 9:30 EESTStora Enso has completed the co-determination negotiations concerning closing down the pulp and paper production at its Veitsiluoto site in Finland. The closure will take place during the third quarter of 2021. As a result of the negotiations, 550 people will be permanently laid off. Some 28% of the redundancies can be managed through pension arrangements.In April 2021, Stora Enso announced a plan to permanently close down pulp and paper production at its Kvarnsveden and Veitsiluoto sites due to the declining paper market. As a result