Finland-based stainless steelmaker Outokumpu has announced that it will cut 100 jobs, mostly in Finland, as a result of the statutory negotiations concerning white-collar employees in its general stainless unit started in June 2012. Originally, the planned job reductions were 150-200. The actions related to job reductions are expected to take place by mid-October.
The company expects cost savings of around €10 million including the job reductions. Outokumpu also stated that it will register non-recurring costs of €5 million related to the job reductions in the third quarter of the current year.