As a result of the change negotiations, Valmet Automotive has decided to temporarily lay off a maximum of 860 employees until further notice. Some of the layoffs will be part-time. In addition, the employment of a maximum of 235 people will be terminated. The total impact of the reductions is a maximum of 1,030 person-years. In conjunction with organizational changes supporting new business, changes to job descriptions will also be implemented. Valmet Automotive is seeking cost savings also through other means, such as facility-related solutions.
“Our aim in the change negotiations was to work together with employee representatives to find solutions that best take into account the interests of both the personnel and the company, to preserve our unique expertise in industrial serial production, and to take into consideration the needs of our new strategic direction. In line with our strategy, we will offer our expertise also to other industries beyond the automotive industry going forward, including the defense sector,” says Pasi Rannus, CEO of Valmet Automotive.
When the change negotiations started, the need for adjustments was estimated to be at most 1,075 person-years. The negotiations concerned all Valmet Automotive personnel in Finland, 1,300 employees in total. The change negotiations were initiated to adjust the number of personnel to better meet the current demand. The aim was also to improve Valmet Automotive’s profitability and competitiveness and to secure the company’s ability to implement its strategy in the future.
Additional information:
Pasi Rannus, CEO, Valmet Automotive
Interview requests: Nadja Doyle, nadja.doyle@valmet-automotive.com, +358 50 317 0538