| Valmet's co-determination negotiations for temporary layoffs are completed |
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Valmet announced on April 21, 2020 the start of co-determination negotiations for temporary lay-offs in Finland. The negotiations were started due to financial and production related reasons, especially because of the reducing workload in the services business done close to customers and in order to prepare for the potential widening of the business impacts caused by the Covid-19 pandemic.
The negotiations concerned all employee groups in the Services business line in Finland and in the EMEA area organization in Finland, in total 1,700 employees. Valmet estimated at the start of the negotiation process that the need for temporary lay-offs would be around 200 employees at this stage.
The co-determination negotiations have now been completed, and as a result at this stage 72 employees in the Services business line in Finland and 105 employees in the EMEA area organization in Finland will be temporarily laid-off due to low workload. The lay-offs concern all employee groups.
The lay-offs can be implemented until the end of October and the scope and length of a lay-off can vary up to 90 days at maximum. The lay-off procedure will start next week (week 18) in those units, where workload has declined.
Valmet employs in Finland around 5,150 employees of which 1,700 in the Services business line and EMEA area organization.
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