Terrafame concluded its change negotiations

In October 2024, Terrafame announced that it had decided to initiate change negotiations concerning the entire personnel due to a challenging market situation. At the beginning of the negotiations, Terrafame estimated that the maximum personnel reduction need would be in total 75 person-years. The possibility of layoffs was also considered in the negotiations. At the end of September 2024, Terrafame employed a total of 826 people.

As a result of the negotiations, Terrafame will make a reduction of a maximum of 30 person-years on production-related and financial grounds as well as due to operational reorganisation. In addition, Terrafame will implement layoffs and changes to the work scheduling, among other things. The company will offer those affected by the redundancies support in the change situation and in seeking re-employment.

Terrafame is seeking improved operational efficiency and cost savings primarily through other measures than personnel reductions such as various development projects.

“The market environment has remained very challenging, especially for battery chemicals. That is why we are forced to implement several measures, which are necessary for Terrafame as a company. During the change negotiations, we identified solutions to improve cash flow and profitability, which led to fewer than anticipated personnel reductions. Additionally, we can achieve cost savings by utilising various working time patterns more efficiently,” says Seppo Voutilainen, CEO of Terrafame.

For further information, please contact:

Seppo Voutilainen, CEO, tel. +358 20 7130 800, seppo.voutilainen[a]terrafame.fi

Terrafame enhances low-carbon mobility by delivering responsibly produced battery chemicals to the global battery industry. One of the world’s largest production lines for chemicals used in electric vehicle batteries is located on Terrafame’s industrial site. The plant is capable of producing nickel sulphate for around 1 million EVs per year. The carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.

Terrafame’s integrated, unique and energy-efficient production process from the mine to battery chemicals is located on a single industrial site. It provides customers with a transparent, traceable and truly European battery chemical supply chain.

Terrafame Ltd was founded in 2015. Its net sales in 2023 were EUR 560.9 million. Around 1,900 people work on its industrial site, slightly over half of whom are employees of partner companies.