Finland-based global engineering and technology company Metso Corporation has announced that it has concluded negotiations with workers' representatives regarding the layoff of 115 people at its metal recycling business in Düsseldorf, Germany.
Accordingly, the primary reason for the layoffs is the weak demand for metal recycling equipment due to low scrap metal prices and the decrease in steel production in Europe and North America. The reductions are part of the process to streamline Metso's metal recycling business operations and structure, aimed at improving competitiveness in a changing business environment.
Metso's Metal Recycling business unit provides solutions including equipment and services for metal recycling to the recycling, steel and automotive industry. Up to now, approximately 500 persons have been employed in the company's metal recycling business in Düsseldorf. Globally Metso's recycling business employs approximately 800 persons.