Metso Begins Talks on Temporary Layoffs Amid Low Demand in Aggregates Business

Metso Begins Talks on Temporary Layoffs Amid Low Demand in Aggregates Business

(IN BRIEF) Metso has initiated union negotiations regarding potential temporary layoffs of up to 90 days in its Aggregates business area in Finland. This decision comes in response to low demand, high inventory levels, and a decrease in orders at the Tampere plant. The negotiations will involve around 560 employees and aim to adjust production volumes and reduce costs, with layoffs expected to occur at the end of 2024 and into spring 2025.

(PRESS RELEASE) ESPOO, 26-Aug-2024 — /EuropaWire/ — In response to a significant decrease in demand and high inventory levels, Metso has announced the start of union negotiations regarding potential temporary layoffs in its Aggregates business area in Finland. The discussions are a direct result of low order backlogs at Metso’s Tampere crushing equipment plant, coupled with global challenges in the mobile equipment market, particularly in North America.

The negotiations, which involve approximately 560 employees across various departments, are aimed at adjusting production volumes and reducing costs to align with the current market conditions. The potential layoffs could last up to 90 days and are expected to take place toward the end of 2024 and into spring 2025.

The scope of the layoffs will be determined by the ongoing development of order volumes and will consider the workload across affected departments. Metso emphasizes that the negotiations will explore all possible measures and alternatives before final decisions are made.

Metso is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. We improve our customers’ energy and water efficiency, increase their productivity, and reduce environmental risks with our product and service expertise. We are the partner for positive change.

Headquartered in Espoo, Finland, Metso employs over 17,000 people in close to 50 countries and sales for 2023 were about EUR 5.4 billion. The company is listed on the Nasdaq Helsinki. metso.com, x.com/metsoofficial

Media Contacts:

Markku Simula
President, Aggregates business area, Metso
Tel: +358 20 483 5692
email markku.simula(at)metso.com

Helena Marjaranta
VP, Communications and Brand, Metso
Tel: +358 20 484 3212
email: helena.marjaranta(at)metso.com

SOURCE: Metso