Finland-based stainless steelmaker
Outokumpu has announced that the employee negotiations initiated in October have been concluded, resulting in the loss of 200 jobs in
Finland.
Outokumpu plans additional cost efficiency improvement measures during 2012 as part of its €100 million cost cutting program. Negotiations in other countries are still in progress and are expected to be concluded during the first quarter of 2012.
Outokumpu previously announced that it will cut 1,300 jobs globally, as excess capacity and weaker demand have hurt profits.