Outokumpu to axe 100 jobs in general stainless division

Stainless steel producer Outokumpu is to cut 100 jobs as part of its restructuring programme to “reach sustainable profitability”, the company said on Monday September 10.

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The company is set to start cutting jobs at its general stainless division from mid-October.

Outokumpu said the job cuts would be made through “pension arrangements, terminations of fixed-term contracts and lay-offs” and said most of the cuts would be made in Finland.

The company aims to make total efficiency savings of about €10 million ($12.8 million), of which €5 million will come as a direct result of job cuts.