Inside information: Metsä Board commences change negotiations on possible temporary layoffs in Finland
Metsä Board Corporation Stock exchange release Inside information 26 October 2023 at 10:00 am EEST
Metsä Board, part of Metsä Group, will initiate change negotiations on possible temporary layoffs for its paperboard and BCTMP mills in Finland. The negotiations involve a total of approximately 1,100 employees at the Joutseno, Kaskinen, Kemi, Kyro, Tampere, Simpele and Äänekoski mills.
The possible layoffs would last a maximum of 90 days and could be implemented in several instalments during 2024.
The change negotiations will start in week 45 and are estimated to last two weeks. With the change negotiations, Metsä Board is preparing for a possible continuation of the adjustment of production to match the low delivery volumes, if the demand situation for paperboards does not improve in 2024. The allocation and amount of layoffs will be specified during 2024.
Metsä Board has announced on similar layoffs on May 17, 2023, which may continue until the end of 2023. The possible layoffs announced now would be scheduled for 2024, and will therefore have no impact on Metsä Board's operating result for January–September 2023 and January–December 2023.
METSÄ BOARD CORPORATION
Further information:
Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101
Marjo Halonen, VP, Communications, tel. +358 50 598 7046
Metsä Board
metsagroup.com/metsaboard
Metsä Board is a leading European producer of premium fresh fibre paperboards. We focus on lightweight and high-quality folding boxboards, food service boards and white kraftliners. The pure fresh fibres we use in our products are a renewable and recyclable resource, that can be traced back to sustainably managed northern forests. We are a forerunner in sustainability, and we aim to have completely fossil free mills and raw materials by the end of 2030.
Together with our customers we develop innovative packaging solutions to create better consumer experiences with less environmental impact. In 2022 our sales totalled around EUR 2.5 billion, and we have around 2,250 employees. We promote a culture of diversity, equality and inclusion. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.