Valmet to start co-determination negotiations for temporary lay-offs in Finland

FINLAND (News release) -- The global COVID-19 pandemic continues to cause uncertainty in Valmet's operating environment. This has impacted especially the workload in the services business which is done close to customers.

During the year, Valmet has strived to balance the workload of the services employees by moving employees to other parts of the company, reducing new recruitments and by utilizing vacations. Also, temporary lay-offs have already been realized earlier this year.

Due to financial and production related reasons, especially because of the decreasing workload, the company starts co-determination negotiations for temporary lay-offs in Finland on November 24, 2020. The employees under negotiations are Services business line's employees in Finland and the employees of the EMEA area organization in Finland. The lay-offs are going to be temporary and they are estimated to last up to 90 days at maximum.

At this point it is estimated that the need for temporary lay-offs concerns around 360 employees. The targeting of the lay-offs and the number of impacted employees will be finalized during the co-determination negotiations.

Valmet employs about 5,200 people in Finland, of which about 1,680 employees in Services business line and EMEA area organization.

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