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UPM Seeks Lay-offs at Plywood Mills in Finland

Helsinki, Finland, 27 October 2011 -- UPM plans to adjust the production of its Finnish plywood mills in response to the weakening market situation. The company is starting co-operative negotiations with the personnel on lay-offs of up to 90 days at the Joensuu, Jyväskylä, Ristiina, and Savonlinna mills.

”The economic uncertainty in Europe, together with the seasonal decline in plywood demand, has weakened our order stock. This is why we have to adjust our production using lay-offs,” said Kim Poulsen, senior vice president at UPM Plywood.

The co-operative negotiations will start immediately and the goal is to complete them by the end of November. The negotiations cover approximately 1400 employees.


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