Metsä Group completes statutory negotiations for cost savings and pro…

Metsä Group, a leading Finnish producer of renewable products, has completed statutory negotiations in Finland as part of its €300 million cost savings and profit improvement programme. This initiative, announced in July, aims to enhance profitability, increase operational efficiency, and maintain the company’s competitiveness in a rapidly changing market.

The majority of the cost savings in the programme are derived from reductions in external costs, with additional savings expected from fixed costs. On 2 October, Metsä Group announced the launch of statutory negotiations in its operating countries to ensure the success of this programme. The negotiations in Finland have now been completed, resulting in the termination of 520 permanent positions, with a maximum of 440 redundancies. This includes reductions at…