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UPM Plans to Reorganise

Helsinki, Finland 27 August 2013 -- UPM plans to reorganise its Finance & Control operations and to outsource recurring transactional tasks to an external company by the end of second quarter 2014. This plan is expected to have impact on maximum 180 positions, mainly in Finland and China. This plan is part of UPM’s profit improvement program published on the 6th of August 2013.

The restructuring of operations aims to improve Finance & Control function’s cost-efficiency through simplifying the ways of working and building the ability to scale to current and future business needs.

According to the plan UPM continues centralising its finance and control operations to UPM’s Financial Service Centers in Tampere, Finland and Shanghai, China. The operations in these centers will be streamlined, and as part of that UPM is exploring the option to outsource selected recurring transactional tasks to an external company. The plan is expected to have impact on maximum 180 positions in the Finance & Control organisation, mainly in Finland and China.

Once the planned restructuring is complete, the size of Finance & Control organisation totals to approximately 450 employees. The Financial Service Centers in Tampere and Shanghai will continue to have an important role in running financial operations. 
The co-operation negotiations with personnel representatives are planned to start by employer´s initiative to negotiations on 27 August, 2013. Decisions on planned organisational changes, job reductions and support for impacted employees will be made when the consultation processes have been completed.

UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials (valid until October, 31, 2013). UPM employs approximately 22,000 people. UPM is present in 67 countries and have production units in 17 countries. UPM's annual sales exceed € 10 billion. UPM's shares are listed on the Helsinki Stock Exchange. UPM – The Biofore Company – www.upm.com

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