Ruukki Construction concludes cost-adjustment program
SSAB's subsidiary Ruukki Construction has completed the cost-adjustment program announced in June 2023. The company-wide adjustment measures resulted in a total reduction of 182 jobs in Ruukki's operating countries. The measures will result in annual cost savings of approximately EUR 15 million.
The adjustment program initiated by Ruukki Construction in June 2023 has completed. The changes affected all the company’s businesses and operating countries and were aimed at aligning operations to lower demand on the construction market and achieving cost savings of approximately EUR 15 million. In June, the company estimated that the measures could result in the reduction of approximately 200 positions.
"Although the low demand situation on the construction market looks set to continue next year, we strongly believe in our ability to succeed in the future. A clearer operating model and a stronger focus on core businesses will improve our competitiveness going forward. Sustainable low-carbon products, close customer cooperation and local operations near customers are at the core of our strategy, and we will continue to implement our multi-year investment program to ensure sustainable growth together with our customers," says Sami Eronen, President, Ruukki Construction.
Following the adjustment measures, Ruukki Construction employs around 1,350 people in a total of ten countries in the Nordics, Baltics and Central Eastern Europe.
For further information, please contact:
Sami Eronen, President, Ruukki Construction, tel. +358 40 557 8839
SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki. www.ssab.com.
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