On March 17, Finnish steelmaker Rautaruukki (Ruukki) announced that Ruukki Metals division, which is responsible for Rautaruukki's steel business, is to initiate employer-employee negotiations to temporarily lay off personnel due to the current market conditions.
The negotiations will concern a total of around 340 salaried and senior salaried employees in Finland, but will not apply to salaried employees working in production or to laboratory functions, where temporary layoffs have already begun. The resulting layoffs will be implemented during the second and third quarters of the year. The duration of the layoffs will become clear as the negotiations progress.
On the other hand, the company's construction division, Ruukki Construction, concluded employer-employee negotiations to reduce the workforce and temporarily lay-off personnel at the Alajärvi, Vimpeli and Peräseinäjoki units in Finland.
Accordingly, the negotiations have resulted in 34 redundancies, around 15 of which will be effected through pension arrangements.
Furthermore, a total of around 115 people will be temporarily laid off at the above units. In addition, more people could be temporarily laid off depending on market conditions.
Rautaruukki has operations in 26 countries and employs 14,300 people.