Valmet: Valmet to lay off 112 employees in Finland

Finnish engineering giant Valmet will lay off 112 employees in Finland. The announcement comes after the company concluded negotiations on staff reductions in the Board and Paper Mills business units, which are part of the Paper division. This is stated in a press release. Valmet announced its downsizing plans in early September, citing the need to improve the profitability and competitiveness of its operations. At the start of the negotiations, the company estimated that around 200 positions were redundant. Now there will be fewer than that. However, Valmet will also reduce fixed-term contracts, have others retire, and move some internally to other positions within the business. The exact number of people affected by these changes is not specified. In addition, the above-mentioned business units will implement layoffs lasting up to 90 days in the first half of 2025. Valmet has approximately 6,600 employees in Finland, and over 19,000 globally.