Outotec heightened cost cutting could lead to 650 job losses

By Kasia Patel
Published: Friday, 20 November 2015

The company has increased its cost saving targets to €70m, as its previous cost savings programme has been deemed insufficient in the current market outlook. As a result, Outotec plans to restructure its businesses, with two third of cost savings coming from personnel costs.

Engineering company Outotec has increased its cost saving measures owing to deteriorating market conditions, which could lead to the cutting a total of 650 permanent employees globally, via redundancies and other arrangements, the company said.

With 160 of the jobs potentially to be cut in Finland, where Outotec is headquartered,...

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