Stora Enso workers walk out in protest at mill closures, job cuts - reports |
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Published
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Fri, 26 Oct 2007 08:55
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HELSINKI (Thomson Financial) - Mills owned by Stora Enso have halted production today after employees walked out in protest at the company's plans to close plants and cut 1,700 jobs, according to Finnish media reports.According to the Finnish news agency STT, the walk-out involves workers at a dozen Stora Enso sites in Finland, but excludes the company's sawmills.Yesterday, the world's largest paper producer said it plans to slash yearly paper and pulp production capacity by a million tonnes by closing mills in Finland and Sweden next year.Some 1,700 jobs will go under the plan that will cut sales by 370 mln eur a year and costs by 140-160 mln eur.james.etheridge@thomson.comje/lamCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Stora Enso expects 380 mln eur of write-downs in Q4, reduces capacity, cuts jobs 