UPM to axe “at least” 2,500


12 May 2006 – Helsinki (FIN): UPM-Kymmene is to lay off at least 2,500 people in Finland over a three-year period and shut down plants in a bid to improve profitability, it has announced.

The paper maker will close three mills in Finland and change production at another plant. It has also said it will start a retraining programme for 670 laid off workers.


"In all Finnish units, people will be encouraged to apply for UPM’s internal vacancies and to move to new locations," a company statement said. "Redundant employees are to be prioritised when filling vacancies."


The layoffs are part of a cost-cutting programme announced in March, when UPM said it would close plants and cut up to 3,600 jobs worldwide – more than 10 per cent of its workforce – by 2008, in order to save €200 million ($240 million) annually.