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,...

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.