Finnish plant equipment provider Outotec has announced that there will be altogether 84 redundancies in Outotec's corporate management, support functions, research center and business units in Finland to be implemented in April 2010. The total personnel reduction in the company's operations in Finland by the end of 2010 will be approximately 120 employees, taking into account retirements and termination of temporary contracts.
The company had announced on February 9, 2010 its new operational model and measures to improve internal efficiency, targeting €25 million of annualized savings in operational fixed costs compared to the cost level of the fourth quarter of 2009.
The need for possible temporary layoffs will be decided separately during the first half of 2010. In addition, the estimated need for personnel reductions in Outotec's global operations is approximately 50 employees in 2010.