Finnish engineering company Valmet will begin negotiations that may lead to temporary layoffs affecting around 2,400 employees across several sites in Finland.
The company said the talks will start on 4 May and cover multiple business areas, including packaging materials and paper, as well as pulp, energy and circular economy operations. Certain support functions and the global supply chain unit are also included.
Valmet said the planned measures may involve temporary layoffs of less than 90 days, expected to take place between June and the end of December.
The company said the move aims to adjust capacity to a lower workload and maintain profitability and competitiveness. It cited delayed customer projects, continued weak demand in paper and board machine markets, and softer conditions in biomaterials services.
The temporary measures are expected to generate cost savings of about €8 million in 2026.
Both revenue and operating profit declined in the first quarter, based on the company’s latest financial results.
The negotiations will involve employees from all staff groups across several locations. The final scope, timing and implementation of any layoffs will be decided during the talks.
Valmet employs about 18,500 people worldwide, including around 5,900 in Finland.
HT
