Metso concludes employee negotiations HELSINKI, FINLAND -- (Marketwire) -- 01/14/13 -- Metso Corporation's press release on January 14, 2013 at 11:00 a.m. local time Metso has concluded employee negotiations in its different businesses in Finland. As a result of the negotiations, the company will reduce a total of 101 jobs. At the start of the negotiations, the reduction need was estimated to be a total of about 160 jobs. The goal of the employee negotiations is to adjust the company's production capacity to correspond with the permanent structural changes in the operating environment and to improve long-term cost competitiveness and profitability. Automation business In Automation, 80 jobs will be reduced, 51 of them permanently. At the start of the negotiations, the job reduction need was estimated to be about 120 jobs. Temporary lay-offs in Vantaa will commence in February. The number and duration of temporary lay-offs depends on the work load and the volume of orders received. At the start of the negotiations, preparations were made for potential temporary lay-offs both in Tampere and Vantaa. Employee negotiations in other Metso businesses in Finland As a result of the employee negotiations, 15 jobs will be reduced at the Mining and Construction's Tampere foundry. According to the negotiation decision valid until September, temporary lay-offs can be implemented in crushing and screening equipment manufacturing and at the foundry only if the work situation so requires. Employee negotiations concerning temporary lay-offs have been conducted in the units serving the pulp industry in Pori, and the temporary lay-offs affecting about 20 people will commence in February. The negotiations concerning potential temporary lay-offs continue in the Power units in Tampere. Additionally, Metso's HR Services unit will reduce 6 jobs around Finland and temporarily lay-off 18 during 2013. The overall target of the employee negotiations is annual savings of approximately EUR 8 million. The cost reductions are estimated to be realized in full during 2013. Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries deliver sustainability and profitability to customers worldwide. Expect results. www.metso.com, www.twitter.com/metsogroup This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metso Corporation via Thomson Reuters ONE [HUG#1670099] For further information, please contact: Harri Nikunen CFO Metso Corporation firstname.lastname@example.org tel. +358 20 484 3010 Markku Simula President Flow Control business line, Automation business email@example.com tel. +358 40 579 8128 Pekka Pohjoismaki President Crushing and Screening business line, Mining and Construction business firstname.lastname@example.org tel. + 358 400 334 400
Metso concludes employee negotiations
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